First of all, Larry Kudlow when he was on with Jim Cramer did a great job explaining the Lucent earnings and the problem we had in the telecom sector.
It was a good analysis and I respect him for it.
Imho, today however, he has left his analysis and is in the middle of a rant. And its not constructive
The issues we face with wall street is not an us versus them. It’s a how do we get a real market back?
The claim that the problem is the toxic debt of housing is short sighted. The over leveraged marketplace that created 47x use of the same money and claimed no risk was the flaw that pushed all the prices up and made the balloon burst.
The fact that there were speculators is no surprise.
So what to do now?
If Larry wants the taxpayer and the home owner to have all the pain, then its not congress that has declared war.
The Laizzes Faire market has shown a flaw that has been exploited. I ask Larry to give equal time to discussing the solution to that problem
He will then find the way to influence congress which means progress.