This past Monday, Google Search picked up and published prominently a 2002 United Airlines filing for bankruptcy. The 2002 date was not printed. The source of the post was from a Florida newspaper that is affiliated with the Chicago Tribune. People who read the post and didn't give a second thought or know that UAL emerged from bankruptcy in 2006 sold shares. The stock plummeted from $12.00 to $3.00 before trading was halted. Many people lost much money before UAL was asked if the story was true. The story was true but it was 6 years old!
There is reality and there is Wall Street perception of reality. In the real world this past Monday , UAL planes continued to fly and reach their destination. This is despite the halted trading and price devestation. This is proof that the world can still function despite Wall Street seizing up. But our representaives in Washington and I use the term " representatives" loosely seem to think that Wall Street's interests are more important than the real worlds initerests. Witness oil and corn price manipulation, banking and security law failures etc.
We can function without a Wall Street and without a Washington.
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