I was about to write a diary the other day about  having not much to write about when I decided to not discuss my job or town stuff the other day.  I read iGrrrl's diary and so felt like writing a bit about it.  I miss feeling free to actually write about my life.  I don't mind throwing personal stuff on a public forum like this.  I do mind that people who don't get it will take extreme measures like firing you because  of stuff  you write.  It's happening way too much to web communities and people who write diaries and blogs.  It's a sad fact of the  world that companies  will use infopedia entries to write commercials about their companies, but when individuals write the truth or  vent they get fired or sued.  Note to self, when I'm elected as a state representative I'll spend some time on freedom of speech stuff. 

So I'll vent about the Federal Reserve.  With the Fed opening the window to investment banks they're now making it official that they're in the business of propping up Wall Street.  Bear Stearns went bankrupt last week.  There's no other way of putting it.  They went bankrupt by playing the market on leverage.  They borrowed money to play the market, and they borrowed money to buy and sell mortgage backed securites.  At least in the case of Bear there's a downside, a stock selling at $150 a share a couple months  ago is worth $2 now.  But as this happens to more companies it'll be a straight bail out.  So the  US taxpayer will start bailing out these companies that were run aground.  The net repercussion for Wall Street will be  nil.  Going back to the opening of the window for investment banks the Fed should  be requiring new regulations, but I can guarantee they won't.  That's not free market, nor is government bail outs  of capitalist corporations but the corporations will turn their heads at the double standard.  The next investment bank that tanks should either get sold the way Bear has or go into bankruptcy.  And yes, I'm familiar with the intertwining of the credit markets and the potential that it could bring about  a serious recession but sometimes if you want to play free market you actually have to have one.

That's it for my mostly incoherent vent.  Time for a nap.