no one is safe anymore

From The Wall Street Journal:

Fast-growing retailer Steve & Barry's LLC is expected to file for Chapter 11 bankruptcy protection as early as Wednesday, say people familiar with the matter, a collapse that stands to hurt everyone from Sarah Jessica Parker to the nation's struggling mall owners.

Didn't see that one coming. You would think a store specializing in dirt cheap athletic apparel would do pretty well during a recession, but I guess not. Perhaps this is evidence of who's getting hit by these tough times, and who isn't.

the credit crunch is over! Yay!

Does this seem foolishly optimistic to anyone else?

what's wrong with the economy

Here is a good article from the Washington Independent explaining in layman's terms what the hell is going on. At the end, Charles Morris asks the questions that have been bugging me about the government "stimulus" efforts and every solution discussed in business news:

The question is, what are we are trying to accomplish? Do we want consumers to keep on spending and borrowing? Are we hoping over-levered companies will pile on more debt? Are we trying to make house prices go up? Isn’t that why we’re in trouble in the first place?