This is a must-read New York Times article describing how the panic in the financial system after Lehman's bankruptcy on Monday Sept. 15 spiraled out of control, causing Paulson and Bernanke to go to Congress Thursday Sept. 18 warning that the "economy might not exist" by the next Monday.
Turn on the local news, 15 minutes of fear, doom, gloom, switch the channel, more nightmarish scenarios... and the solution of happy days will be here again? It all rides on the bail out! "Experts" explain how you can lose everything unless Congress passes the bail out!
Now this is clearly generating artificial panic. The market did go down and it's been going down as it will in any correction but that is not a collapse, that is a correction.
I'm not alone watching the spin machine create absolute panic.
Forbes also pointed out that many things are simply not that bad.
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