Good assessment and the same is true for Britain in fact our banks were in a way even more greedy as they lapped up the bad debts from the US.
It is interesting how the non-US exchanges tended to react more strongly—good and bad—to our problems this week than ours did. Supports Murdoch’s observation on Neil Cavuto’s show this week that Obama’s economic policies would hurt and anger the rest of the world, rather than befriend them, as he expects.