Wednesday, September 17, 2008

SOMEBODY TELL SEAN HANNITY & FATS

Sean and Fats Limbaugh (The financial system is not "falling apart at the seams.") have been eager helpers to the Republican Good News Fairy and I'd like to see how he responds to this WSJ article:
Worst Crisis Since '30s, With No End Yet in Sight
By JON HILSENRATH, SERENA NG and DAMIAN PALETTA
SEPTEMBER 18, 2008
Wall Street Journal

The financial crisis that began 13 months ago has entered a new, far more serious phase.

Lingering hopes that the damage could be contained to a handful of financial institutions that made bad bets on mortgages have evaporated.

"This has been the worst financial crisis since the Great Depression. There is no question about it," said Mark Gertler, a New York University economist who worked with fellow academic Ben Bernanke, now the Federal Reserve chairman, to explain how financial turmoil can infect the overall economy.

The U.S. financial system resembles a patient in intensive care.

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