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Posts Tagged ‘defaults on consumer credit’

From The Archives: “Where’s The Money??”

Posted by Larry Doyle on April 10th, 2009 8:16 AM |

On a quiet Good Friday morning, brief reflection never hurts. In that spirit, I thought it may be worthwhile to go into the archives for our year-end piece 2008. This piece was originally published on December 29, 2008:

I thought about providing an outlook for 2009. I considered offering further opinions on Obama’s economic plans. Perhaps a review of the Bush economic program would be well received. Then yesterday, the lead editorial in my local newspaper asked “Where did the bailout money go?” I had my answer. In previous pieces I have touched upon why I thought there was a very good chance this money would not flow through the system. I hesitate to continue to refer back to my piece published on November 12th (The Wall St. Model is Broken…and Won’t Soon be Fixed), but for new readers I do firmly believe it is as good as anything I have read or seen in any publication in explaining how we find ourselves in our current position.

Please allow me to digress for a second. I will admit that I am not a movie buff, but I do enjoy films that focus on the success of underdogs, have a measure of financial intrigue, or perhaps a combination of the two. Not surprisingly, a few of my favorite movies are, Rocky, Jerry Maguire, and The Sting. (more…)






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