Originally Posted by
Brock Landers
If you dont bail them out, the global economy and financial system fails. I hate it. I hate that fact because there should be nothing but poverty for the AIG execs and the shareholders that let them do this. They own the company- in good times and bad. But at this point, if those institutions fail, banking and the economies of countries across the globe fail. Noone trades. Companies cant get financing or cash to make goods or perform services and profit, thereby going out of business themselves. It wouldnt just be AIG and Citi, but just about every company out there. Huge job losses. Remember when Lehman failed? This would dwarf that many many times over. And that sucks.
Another point...These shows all have people giving well-informed opinions on things. They know how markets work, for the most part. But this isnt an exact science. The best portfolio managers are right maybe 60% of the time. Thats enough to tilt the odds and make money. Of course Cramer and every other person on CNBC are going to be wrong as often as theyre going to be right. A dog can pick stocks- an index can pick stocks (and do very well). I feel like theres an expectation that because youre an "expert" that youre infallible- certainly not the case. You never know for sure whats going to happen with a particular stock or market, only what you think will happen.
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