I’ve been following the bank crisis’ (note the plural) for the last week now and it reminded me of that scene from It’s a Wonderful Life where all the customers suddenly run the bank all at once and everything turns into a giant chaotic mess.

It’s been about four years since our last recession and people seem fairly upbeat about the economy. Housing has been hit the hardest with high risk loans and failed mortgages driving banks into a cash crisis and leaving Wallstreet in total chaos. AIG, the worlds largest Insurance company, filed for bankruptcy and is now 74% owned by the Fed. Fannie Mae and Freddie Mac have been bailed out by the Fed as well. Bear Stearns failed six month earlier. Retail will most likely take a hit over the Christmas season as people spend less on gifts and general spending as they continue to worry about the banks holding their money and gas prices escalating over the next few years. The unemployment rates are at 6% now, which is nearly the same as it was four years ago.  However, compared to when I was unemployed six years ago, there do seem to be jobs out there.

So what are peoples thoughts? Anything goes.