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"...until values reach realistic levels."The market works, if we let
it
Great bit from the Financial
Post.
Bailout or no bailout, the stock markets were heading lower as financial markets continue to undergo massive asset revaluations. No matter what elaborate new rescue packages Congress, the Bush administration and the U.S. Federal Reserve bring to the party, the market is going to continue marking stock prices and other assets down until values reach realistic levels. This is not, nor can it be, the beginning of the end of the U.S. or world financial system. It's simply how the financial market works, how it should work. And it is working, whatever the games being played out in Washington and whatever their belief that governments can resolve the crisis. This is how the system fixes itself WITHOUT government intervention. Of course, without government intervention, it never would have gotten this bad to begin with... 
Posted: Tue - September 30, 2008 at 01:34 PM
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 Pagan Vigil
Pagan philosopher, libertarian, and part-time trouble maker, NeoWayland watches for threats to individual freedom or personal responsiblity. There's more to life than just black and white, using only extremes just increases the problems.  My Thinking Blogger Nominees
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