Nov 15

In what many see as a continuing indication that the economy will be heading down a bit more before it makes its eventual recovery, U.S. stocks dropped precipitously last Friday, ending the second consecutive week of losses. Pressured from record breaking drops in retail sales and falling sales of mobile phones, the stock market has economist and investors in a blue mood indeed.

Responding to calls for the government to bailout ailing businesses, Harry Rady, CEO of Rady Asset Management,  ventured his opinion on taxpayer funded bailout schemes for the overextended auto manufacturing industry.

“Even if they are given some capital, it’s a band aid. The Japanese and the Germans have much better business models and products. The free market should determine who makes the best cars, and the consumers should determine who survives.”

To read more about this issue please follow the link to:
MarketWatch.com: U.S. stocks slammed again as retail sales drop