Credit Crisis

This is absolutely a joke.

WASHINGTON (AP) -- The bailout is now the hottest lobbying game in town.

Insurers, automakers and American subsidiaries of foreign banks all want the Treasury Department to cut them a piece of the largest government rescue in U.S. history.

The betting is that many with their hands out will be successful, especially with financial markets in a stomach-churning dive and predictions the economy is about to tumble into a deep recession.

By Katherine Burton

Oct. 17 (Bloomberg) -- Andrew Lahde, the hedge-fund manager who quit after posting an 870 percent gain last year, said farewell to clients in a letter that thanks stupid traders for making him rich and ends with a plea to legalize marijuana.

It was the US subprime mortgages, then it was money markets in the US, then it was money markets in the Europe, then it was the collapse of Lehman Brothers, the collapse of Washington Mutual, the run on Bank of East Asia, the collapse of Fortis, the $700bn bailout of the US, ... , and is now the collapse of the Hypo Real Estate rescue and the gloom in the Chinese art auction.

If the rest of the world were to go through what the US had to go through, I would not know if we, the rest of the world, would ever do better than what the US has done.

China Could Be Dragged Down by Wall Street Crash: William Pesek