[turbo6bar]

Hehe, I was going through the same mental anguish in 06 trying to unravel CDOs, ABX, and all the other crap thrown about by the financial wizards.

See the "More Bad RE News" for a play-by-play. We were discussing this very topic in 05, 06 & 07. Blogs like Calculated Risk covered CDOs extensively in 2007. It's scary when your mind tells you one thing, while the market's view is diametrical.

Reading this commentary forces me to change my outlook on bailouts for Wall Street. I once believed it was necessary to do bailouts to prevent Armageddon. However, the bailouts enable these crooked Wall St firms to stay in business and one day, steal again. The question becomes: How do we prevent this from occurring again? Are we destined to repeat it, because we are too stupid to remember?

tiwebber, until the economy stands again on firm ground, I am hesitant to put any money back into equities. Like you, I liquidated my non-retirement accounts. I'm sticking to assets or investments I control.

gprsh924, if everyone was fiscally responsible, the American economy would lose 10, 20, perhaps 30% of GDP. The growth and health of this economy is based on unsustainable consumption habits. You should be ashamed for promoting the noble concept of responsibility.
jurgen