Michael Lewitt writes in this month's HCM Market Letter about a number of troubling issues in the American economy. The issues include:
- The failure of the SEC to effectively pick and choose which companies they wish to save;
- The government's decision to postpone a new rule forcing financial institutions (primarily banks) to account for off-balance sheet assets which, when added, would severely impact their ability to continue doing business;
- The big troubles at Merrill Lynch;
- The taxpayers' bailout of Fannie Mae and Freddie Mac; and,
- The impending bankruptcy of the American automobile industry.
Mr. Lewitt goes into detail on each of these topics and explains that the light at the end of the tunnel may not be as near as we think. Please click on this link to access this interesting commentary.