Nightmare on Main Street?

Wow Peachtree City, I woke up this morning from a terrible dream.  Hmmm…in the movies Freddie Krueger normally got to you when you fell asleep.  But he let me continue to dream, or was it!  Well, when I woke up our economic world did not blow up during the night.  But what I saw in my dream was another outbreak of serious financial trouble.  The decades of irresponsible over-creation of excess money and credit by Alan Greenspan and his Federal Reserve along with the rest of the central banks of the world, were wreaking their inevitable damage.

The Federal Reserve…..

Hey Peachtree City, I’m just returning or I should say my computer is just returning after taking a long week off fighting a virus.  Hmmm…I always thought a trojan was used for protection.  speaking of which, is it just me or does it seem like everyone is looking for some sort of protection these days.  Job safety.  How about a safe haven for our savings and 401k.  And to think you actually thought the Feds were going to give us the answer!

Lehman Brothers, Merrill Lynch, latest financial market victims

Wall Street awakes to 2 storied firms falling
 2 storied Wall Street firms fall as US financial markets roiled by further shock waves

 NEW YORK (AP) — When Wall Street woke up Monday morning, two more of its storied firms had fallen.Lehman Brothers, burdened by $60 billion in soured real-estate holdings, filed a Chapter 11 bankruptcy petition in U.S. Bankruptcy Court after attempts to rescue the 158-year-old firm failed. Bank of America Corp. said it is snapping up Merrill Lynch & Co. Inc. in a $50 billion all-stock transaction.