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Doom and gloom is prevalent around Wall Street, and it doesn’t look like it will be over anytime soon. Even with the $700 billion bailout, more banks will fail in the next year. While it will help stave off some of the failures that would have happened due to bad debts that the government will be buying, in the future this rescue plan will not be Wall Street’s saving grace.

Banks are still falling hard from their own greed. It was their market to lose and they blew it big time. Few small town banks are failing, and some like Regions, are prospering because of their unwillingness to partake in the sub prime lending scheme.

Yes, I’m still angry that we, the taxpayers of America, had to pay to bailout these companies that could not keep their hands out of the pockets of people who they KNEW couldn’t afford mortgages and loans they were being given.

Jeremy

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