<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/0601950a-d78d-4191-ba4f-50fa6c1fce4c/F250827F-0998-4CBE-8A44-BEFE4E91E172/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.bloglines.com/myblogs_display?sub=73882892&site=1071740" href="http://www.bloglines.com/myblogs_display?sub=73882892&site=1071740" style="font-size: 11px;">www.bloglines.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloglines.com/myblogs_display?sub=73882892&site=1071740"><H3><A target="_blank" href="http://feeds.feedburner.com/~r/Americablog/~3/397259459/wash-post-what-we-are-witnessing-may-be.html" title="Site: AMERICAblog News| A great nation deserves the truth" class="bl_itemtitle">Wash Post: "What we are witnessing may be the greatest destruction of financial wealth that the world has ever seen"</A></H3></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloglines.com/myblogs_display?sub=73882892&site=1071740"><DIV>I don't claim to understand everything in this article- Chris is our financial guru - but it strikes me as a damn good explanation of what happened this week, and where things are heading. <A target="_blank" href="http://www.washingtonpost.com/wp-dyn/content/article/2008/09/17/AR2008091703834.html?hpid=topnews">From the Washington Post</A>:<BLOCKQUOTE>What we are witnessing may be the greatest destruction of financial wealth that the world has ever seen -- paper losses measured in the trillions of dollars. Corporate wealth. Oil wealth. Real estate wealth. Bank wealth. Private-equity wealth. Hedge fund wealth. Pension wealth. It's a painful reminder that, when you strip away all the complexity and trappings from the magnificent new global infrastructure, finance is still a confidence game -- and once the confidence goes, there's no telling when the selling will stop.</BLOCKQUOTE> <P><A target="_blank" href="http://feeds.feedburner.com/~a/Americablog?a=KS2vIK"><IMG border="0" src="http://feeds.feedburner.com/~a/Americablog?i=KS2vIK" /></A></P><DIV class="feedflare"><A target="_blank" href="http://feeds.feedburner.com/~f/Americablog?a=pKPZl"><IMG border="0" src="http://feeds.feedburner.com/~f/Americablog?i=pKPZl" /></A><A target="_blank" href="http://feeds.feedburner.com/~f/Americablog?a=1XImL"><IMG border="0" src="http://feeds.feedburner.com/~f/Americablog?i=1XImL" /></A><A target="_blank" href="http://feeds.feedburner.com/~f/Americablog?a=EZxYL"><IMG border="0" src="http://feeds.feedburner.com/~f/Americablog?i=EZxYL" /></A><A target="_blank" href="http://feeds.feedburner.com/~f/Americablog?a=Z1FBl"><IMG border="0" src="http://feeds.feedburner.com/~f/Americablog?i=Z1FBl" /></A></DIV><IMG height="1" width="1" src="http://feeds.feedburner.com/~r/Americablog/~4/397259459" /></DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/F250827F-0998-4CBE-8A44-BEFE4E91E172/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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