By Danny
Bear Stearns, founded in 1923, is busted after a run on the bank. The Fed saved it, by illegally diverting funds through JP Morgan.
And 20 Canadian asset-backed commercial paper trusts declared bankruptcy today.
An English bank has been nationalized. Trust funds are being frozen and are going broke.
After bouncing up toward the 1K benchmark for the past week, Gold finally closes on the New York Mercantile Exchange above $1,000/oz for the first time ever:
The economic roller coaster begins its downward descent and picks up speed.
New Emerald City bonding, anyone?
Have a nice day.
