All Government Officials Seem to Be On Prozac

Bear Stearns meltdown aftermath

Fascinating action in the world financial markets news today, in the wake of Bear Stearn's weekend meltdown. In the wake of the fear in Asian Markets earlier today, US markets responded with a yawn by today' US market closings.

By way of background, BTW, The Fed apparently put a rubber hose to the Bear Sterns Board of Directors over the weekend and convinced them that they should sell their company for pennies on the dollar. As we'll see, we'll wonder whether the BSC stockholders will go along with the FED plan to wipe out all stockholder equity.:

Here's the wrap-up for today's market trading activity:

Asian stocks took a big hit early today, while today's trading on the NYSE reveals that most NYSE traders yawned, gulped another few Prozac tablets, and accepted the fact that nanny government will avoid market forces, and enact "Happy Times." Yes.
The Dow finally finishes up a 20 points.

Gold, which went as high as $1030 last night, has now settled down to 104.30 at this very moment.

Bear Stearns executives now face the first of many predictable lawsuits.

People who are concerned about the current condition of the US economy should chime in here right now!

We predict that when the economy finally tanks, as it inevitably will, the pain will be much worse, than if the government ( and the Fed) had stood back and allowed out economy to fall into the situation now... rather than later.

Heads should roll in election 2008.