Tuesday, September 30, 2008

Forbes Columnist: "Let markets Sort Themselves Out"

I almost spit out my coffee on this one. In an interview on Fox News, Forbes columnist and Fidelity Investor Editor Jim Lowell even stunned the rabid conservative Fox News hosts with this breathless take on letting the free market run rampant.

There are no lessons learned apparently. It would seem that Lowell doesn't quite take into consideration the gigantic losses the American public might experience while the "markets sort themselves out."

Jim Lowell: "We get paid to take risks, and if the risks turn out great, we get the reward, and if they don't, we're supposed to take the lumps. The answer is to let it go, let this market sort itself out and let the poll following lemmings do what they do best, which is basically point fingers at each other while ROME'S BURNING."

"Let the market sort itself out...while Rome's burning." You'll want to put your fist through the monitor on this one.

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