What a day,phew!!! . I was hoping that Monday will bring much needed boost and may be some goodluck to the stockmarket but nope , nothing of that sort happened today. I believe the only thing more disheartning than seeing your portfolios shrink is to see your company in jeopardy. Someone asked me today " Are you worried about your job ? " Hello.....aint we all are? Whats happening to US Economy and as a matter of fact to the world economy? All we hear about on tv is unemployment rate,housing crisis,banks collapsing and so on and on . Its sad to see that what started as greed and bad decision of some individuals could transform collectively into such a mammoth financial fiasco.
Its easy to blame big corporates like Freddie/Fannie/AIG for the current mess but as far as I am concerned the biggest culprit are those homeowners who knew all along that the mortgage was too big for them but yielded to the greed of making quick bucks on the equity of the house.
Sad to see that greed of some individuals have brought us to the brink of collapse of capitalism.
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