Bear Stearns Collapse Good for Wall Street and World
Bill Emmott, formerly of the Economist | March 19, 2008
The Bear Stearns collapse forces Wall Street to finally face reality and end the culture of easy lending. ++ US recession combined with a Democratic president in November will spell protectionist legislation. ++ The biggest threat the American financial crisis will have on the rest of the world will be politicians blaming foreigners. ++ A rebalancing between the dollar and Asian currencies will be a welcome global change.
Tags: | recession |
US economy |
