But the mechanism for bailing out people may be government control of those banks. And that’s a buyout, which is a bailout.

Still, that being said I *think* I agree with this op-ed:

http://www.time.com/time/business/article/0,8599,1845209,00.html?cnn=yes

Are they crazy?

As I’ve said over and over, ad infinitum, on this and other blogs, we here in the blessed eastern end of dear ol’ Mass are pretty much immune from any sort of “crisis” or “crash”. Unemployment? LOL. Slowdown? Tee hee! Not here, thank you very much!

Walk down Boylston Street from the Public Garden to Kenmore Square. What do you see? People shopping. People buying. People hurrying to and fro. People heading to their high paying jobs in Boston’s gleaming office towers. Money changing hands. High rents. Studying students, with their eyes on that mid-six figure investment banking job downtown upon graduation.

Let’s face it. Who is our next door neighbor? Harvard! Who else? MIT! Not to mention BC, BU, Northeastern, on and on. Harvard’s endowment is up to what, $40+ billion at this point? Their crack money managers squeezed out a 7 percent GAIN this year. In this so-called financial apocalypse!

Bottom line: we’ve got the smarts. Barring a major terrorist event, or a meteor crash or the sun burning out, prospects here in downtown Boston are brighter than they’ve ever been, and only getting brigher.

Anyone investing in the market here in Boston Proper can be pretty much guaranteed a safe and high-return investment. Blue Chip Boston can’t be beat!

So what does this mean, “slowdown” and “economic crater”?