I want to call my brother Douglas to ask him to explain all of this to me, but I suspect he’s going to have a busy day (he works for Merrill Lynch). But what the fuck? About Bear Stearns, I mean. I understand what happened, but how could it happen? Actually no, I only understand the bare bones of what happened. I need more back story. I need all the gray areas explained to me, I’m missing the nuance. I really don’t know what happened.
Bottom line: Should I be scared?
What should I stock up on? Will they need writers in the Great Depression of ’08?