Melting Down

World seems to be coming to an end on the wall street. Capitalism preachers are doing what socialist were preaching some 90 years back. US Fed has spent close to $900 billion to prop up companies and buy them in worst cases. All the mortgages held by Finnae Mae and Freddie Mac have been nationalized as is AIG. But as they say you aint heard anything yet. Whats happening in the financial world is a classic example of systemic risk taking over. The real pain days are ahead. Till now it was the financial markets where the bloodbath was happening, wait till it starts rubbing off on real economy.