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Where We Are Headed – Gold, USD, Oil
The year 2008 will be written about in finance textbooks for generations to come. The inevitable collapse of the boom, built single-headedly on credit, finally came home to roast.
401K Knockout! Down For the Count?Why didn’t Wall Street warn anyone that the market was going down? It still amazes me to this very day that major Wall Street firms upgrade and downgrade stocks and sectors, but they could not save themselves. Bear Stearns, Lehman Brothers, Merrill Lynch, Wachovia, Washington Mutual, and countless other financial institutions have failed in this debacle. Why didn’t they downgrade themselves to an under perform or sell rating? The reason is simple and it’s Wall Streets dirty little secret.
