Monday, March 24, 2008
Wall Street: $45 Trillion in Gambling Debts
Great article on the NY Times today on the root cause of the current financial mess. Excessive and unregulated speculation by some Wall Street Insiders is the root cause. $45 TRILLION dollars! That's 2.5x the combined value of every company traded in the New York Stock Exchange.
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Essential reading for all.
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http://www.nytimes.com/2008/03/23/business/23how.html?em&ex=1206504000&en=545585f39cd180f0&ei=5087%0A