Bailout Nation out on shelves TODAY!!

Synopsis (From Amazon):

Bailout Nation is a scathing expose on the politicians, financial leaders, and regulators responsible for the financial crisis of 2008. Written by Barry Ritholtz, one of today’s most popular economic bloggers and media commentators, the book shows how ideology has been turned on its head and how the U.S. has abandoned its capitalistic roots and morphed into Bailout Nation.

Ritholtz’s rogues gallery of perpetrators and enables includes Alan Greenspan, former Senator Phil Gramm, Presidents Bush and Clinton, Treasury Secretaries Robert Rubin and Larry Summers, the biggest Wall Street firms, the ratings agencies, and Washington regulators. Together these individuals and institutions created a system that allowed banks and financial institutions to operate with little or no effective oversight, reaping the rewards of their success and insuring their failures would be underwritten by taxpayers.

Scathing, tough-minded and marked by a tone of outrage, Bailout Nation perfectly matches the public mood and stands alone as a searing indictment of the financial and political establishment.

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It's Friday and boy, the day is crawling. It has become quite the trend lately, work, work, work and then it's piano and NBA for leisure. Routine but I am quite comfortable the way things are.

Though it is still nice to stretch once in a while, catching up with recent news and be in awe of the rapid change in market emotions, but at last, I am getting too tired to debate over how all the so called tests or stats are limited in their measurement of the extent of decay that has destroyed the free market system. I laughed a little when I heard about the leak of the stress test results over a week ago, quickly dismissing it as merely a gimmick. It presets a standard and raises people's tolerance of what is acceptable as good news.

So when the report cards came out, people started quoting "No news is good news" or better rephrased as "Less bad news is good news.". I swear I almost cried at the market's reaction. Naive? Compulsive? Or just desperate to take any news and look at it positively. By some self-fulfilling prophecy, maybe it will all turn around. Then maybe it will justify why just the other day, I saw a $3 Million house get multiple offers and sold for $3.4 Million. More and more people approaching for land loans for developments.

Almost time to get off work. Maybe I will go get a good book and relax.