IT’S THE DERIVATIVES, STUPID! WHY FANNIE, FREDDIE AND AIG ALL HAD TO BE BAILED OUT

“I can calculate the movement of the stars, but not the madness of men.”- Sir Isaac Newton, after losing a fortune in the South Sea bubbleSomething extraordinary is going on with these government bailouts. In March 2008, the Federal Reserve extended a $55 billion loan to JPMorgan to “rescue” investment bank Bear Stearns from [...] continue reading the breaking news