Just moments ago, on the anniversary of Lehman Brothers bankruptcy, President Obama warned Wall Street against taking more reckless risks with Americans money. He told Wall Street that there would be no more bailouts and he credited the $787 billion ‘stimulus package’ for saving America from another Great Depression.
Although measures of investor confidence are up from their December 2008 low, the dizzy American market still teeters on fear. And it’s no wonder. With a full basket of financial woes and dominoes still toppling around the world, the economic prophets declare the Great Recession will persist through the rest of 2009.