The global pool of money

Guys, this is the best explanation I've heard of why we're in the mess we're in. The shortest summary would be; the Michael Douglas/Charlie Sheen movie "Wall Street" explains that the markets have only two emotions, greed and fear, basically the greed ran things for too long, so now fear is running rampant.

This investigative story, first broadcast back in May is certainly a lot more detailed, but does an amazing job of making things clear to non money nerds and mathematically-impaired people like me. Granted, it's NPR not Bloomberg, but I think they try to be pretty unbiased too.

http://www.thislife.org/Radio_Episode.aspx?episode=355

http://www.npr.org/templates/story/story.php?storyId=90327686

Boils down to this, too much laisser-faire for too long has turned capitalism (ordinarily a good thing) into a cancer. Maybe you prefer Reagan to FDR, but I gotta tell you, I think that right about now Wall Street and Washington both need to hear two important quotes from FDR's first inaugural address-

"There is nothing to fear but fear itself" and

"in our progress toward a resumption of work we require two safeguards against a return of the evils of the old order; there must be a strict supervision of all banking and credits and investments; there must be an end to speculation with other people's money, and there must be provision for an adequate but sound currency."

Both McCain and Obama would do well to listen to this radio story and read Roosevelt's speech. Let's all pray that we come through this storm safe, sound, and SOON!