I've kind of been waiting for this to come out.. the reasons that the markets Nuked during the fall of 2008.     Where's Dave when you need him?

http://www.cbsnews.com/stories/2010/03/12/60minutes/main6292458.shtml

Basicly we've already known some of the fundamental reasons..  CDO's, MBS, CDS, sub-Prime etc...  but the story starts to paint a picture.. right or wrong???

Capitalism here down in the trenches.. I think works.. but at the Wall Street level of Greed vs Greed... a competition of multi-million dollar bonuses is Not what I believe Adam Smith was talking about with his invisible hand analogy... so was Capitalism done in by the Capitalist as the story try's to allude?

Also was this guy a hero or villain?

http://www.cbsnews.com/video/watch/?id=6298038n&tag=contentMain;contentBody

The inital $8.4 Billion dollar short that eventually lead to the whole economic meltdown?  The system should have never been allowed to get to that point.. granted... but wow.. this guy and guys like him sure Nuked the economy by shorting the system that others blindly trusted.. nothing illegal.. but kind of like driving against the traffic of bond traders on their "itty-bitty tricycles" with a fully loaded Mack Truck going 80 mph and peeling them off like flies..

There needs to be reform of this whole mess so that it never happens again.  I believe probably 95% of the public would agree with that.

Here's the golden nugget..

http://www.cbsnews.com/video/watch/?id=6298028n&tag=contentMain;contentBody

"Society needs to think about the Wall Street trader vs the history teacher making $40 k..."

yup.

We don't need to junk the Free Markets.. but man.. I don't believe that is a "free market."  Too much manipulation for a bonus.