There is plenty of blame to go around to many different segments and players in those segments that has gotten us to the near crisis state in which we now find ourselves.

I, for one, applaud the Fed and the Treasury department for the quick and decisive actions they are now taking and took over the last week.  They helped avoid massive chaos in world wide financial markets.  Opening the Federal Reserve discount window to the dealers was a good idea (obviously a little late for Bear Stearns) but I should expect and maybe even demand added regulation and oversight to follow for those new recipients of this privilege.

I hear a lot of talk about what now needs to be done and that is good.  We certainly need to find a way to help get the retail real estate market pricing stabilized and can expect a number of old and new ideas and proposals …

I knew the economic bad news was getting worse, but it truly hit home one morning when my dad, a Brooklyn, NY, native, and thus a connoisseur of bagels as well as their prices said “Do you know that a plain bagel is going for $1.20!”  He further lamented, “Do you know why? … Wheat Prices, that’s why!”  And it’s not just wheat, it’s across many commodities.

In general, the bad economic news that was released over the last few weeks was being absorbed fairly well by the broader markets.  That was until, it wasn’t.  On Friday, February 29, 2008 leap-year, the broader markets racked up significant losses in the early hours of trading, and finished off 2.5%, marking the fourth consecutive monthly decline.  I certainly could have done without an extra day this year.  The volatility continued as an afternoon rally on March 4, 2008 trimmed the 224 point early day loss to …