Nightmare on Wall Street

September 15, 2008 we had a financial crisis never seen since the great depression.
With crashing of the stocks on Wall Street people are feeling a sense of lose at the vulnerability of the economy. Consumers are cringing at the impending doom of our nation, when three powerhouses are left in the carnage of yesterdays assault then we know there are troubled waters ahead.
AIG, Merrill Lynch and Lehman Bros. were nailed to the coffin as the day progress all due to direct and indirect flop of the housing market. Washington Mutual the largest S&L credit has been down graded by several financial agencies and may soon be talking bankruptcy. There is a crisis of confidence, banks have tighten up reign, lendings have decrease and people are scared. Job will be lost and small business will start going under.
With the tax cuts and deregulation of the credit industry over the last year look what has happened to the economy. "NO" the economy is not fundamentally sound, people need to take their heads out of the sand and realize that this are people's future, their retirement and their lfe savings that are at stake.
The big question "is America broke and how are we going to climb out of this one"?