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posted by The Greek | 10:08 PM
3 Comments:
It seems like Reuters, like everyone else, doesn't have a clue if the worst is over.
I agree the news of Bear Stearns was a "panic" situation, but the Fed didn't allow that "panic" to fully play out. I think the Fed is just prolonging the agony on Wall Street. I would prefer major capitulation so we can finally find the bottom.
I think Bear's actions weren't panicked enough to save their company. The managers should be the focus of employee suits, because had they moved their eps report up, all that wealth might still exist. Cayne has himself to blame, not the Fed.
Allow the capitulation---and lets move on. Stop the procrastination of the inevitable.
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