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good post, Alex.

I'm not sure I agree with blaming Clinton for this, but yes, Greenspan is partly responsible as this mushroomed on his watch. Nonetheless, the majority of blame goes to the greed and corruption of bankers. Bill Mann calls them "Harvard stupid" ha ha.

If you're clever like Buffet, then getting in on a good value like GE is fine. I wouldn't hold any ETF's or mutual funds at this time, though. As a disclosure, I too, still hold dividend paying stocks like FRO, MFC, PCU, and some strong companies like DLB and MVL that I'm not afraid will go down too far. But I'm mostly cash.

I stand by my post: doing nothing IS better than this bailout. (Although a bailout directed towards the average Joe mortgage holder may not be a bad idea.)
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