Today's New York Times has a fascinating article detailing some of the more nuanced questions concerning the recent purchase of Bear Stearns by JP Morgan Chase. Of course, what remains so fascinating about all of this is that we have been through similar economic situations before, yet nobody seems to learn from their past mistakes! The media does not seem optimistic about the prospects of people learning from this round of trouble.
With the amount of uncertainty still left in the market and the slow pace that this uncertainty is being wrung out, I think it will likely be an economically frosty 2009. Let's just hope we do not start to have runs on banks and serious employment problems, as those will truly be signs of a crisis beyond control.
Grab those profits while you can and wait for the dust to settle folks!
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