The company I work for invests our money for us and I cant touch it right now..I'm in one of the safest things there is and have lost money.I saw this coming and moved mine just in time.Those in higher risk have lost tons of money.
A CD only pays 3% right now and inflation is over 10%.There is no safe place to put anything.
The point I'm making is the actions of Wall Street affects everything that we do.The Fed interest rate cuts were made for the benefit of Wall Street,not for the average Joe Blow..Why should the taxpayer be bailing out Wall Street?100's of billions of dollars have been thrown their way and it still may not be enough.
Bear Stearns gave employees $100,000 bonuses in late 2007.In less than 3 months they were history.
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