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It saddens me to see on Clark Howards website such a poorly informed and written article. Clark mentions that Bears Sterns was "bailed out" with tax payer money. Now I agree with Clark that taxes should not be used for this but what the article, Clark and his website writers failed to realize was that the INVESTORS got nothing! The bump from $2 to $10 was to hopefully avoid lawsuits. $2 was a kind gesture when the firm was probably worth negative amounts.<br> <br> Who did they actually "bail out"? All of the Bear Stearns customers who would have seen their share of MSFT, IBM, and Mutual Funds share go INSOLVENT! Thats very bad for the econimy, the dollar, and the United States. Fearing this the Fed took action. The only real winners are the people with accounts at Bear Stears that had $100 cash still have $100 cash. Thats it!
By Sean Farrell
