I think the guys at Bear Stearns are some of the most responsible for how the economy has turned out and they are going to get their asses bailed out by the government like they always do. Funny how they are the same people who talk about the divine power of the invisible hand and how government regulation just impedes the market. Then the market chews them up and the useless government must save them. It's really fucking stupid and hypocritical and is exactly the kind of behavior that only reinforces risky business.

To answer the real question: If I were invested in any US banks still I would probably let it ride as this point, the Fed seems to be saying that they will print money if thats what it takes to bail out their $20,000 suited friends. If you're just talking about cash in bank accounts, you would probably be better off dumping your savings into a stable currency or into some other non-US investment but ultimately I don't think that will make a major difference for you unless you are talking significant amounts of cash. The market is pretty well fucked. The tax rebates will probably give it a little boost later this year, but the problems are structural and long-term. Maybe if the Democrats sweep the elections we will see the kind of change necessary to transform the US economy but otherwise we're on the express train to post-imperial decline. If I didn't have a mortgage and a decent job in an area of the country that seems to be mostly unaffected by the collapse I would be moving to the EU tomorrow.

It's not just Bear Stearns, It's the whole banking system. These $20,000 suits have made $20,000,000 from cooking their books. It's the only way they could sell the shit securities they were dealing. Whats sadder is that the people who were buying them were pension programs and retirement funds.

But its the way the shit rolls. When the game finally comes to an end the big players *ahem* JP Morgan in the case of Bear *ahem* come and buy up the smaller guys. I mean Bear Stearns were impaled by their junky subprime securities, but all their holdings aren't worthless. Morgan is getting that shit for free pretty much, and then to top it off they aren't even using their own money.

taxpayers pay for bailouts

And as far as investing in stable currency...good luck eating paper and coins, let me know how they taste. I think if you look ahead, I would be buying tools, equipment, foodstuff...etc.

I don't know every facet of the economic system, but I know that it fucks people worse than a mexican train in Ojos Negros prison.