Booms, Busts, and Wall Street

A nicely written article here by Henry Blodget, he of the tech stock bubble disgrace. While I think Henry understates the willful market manipulation of which he was guilty in the 1990's, his thoughts on the current bust are right on target. I especially like his comparison of busts to hurricanes....they are a natural part of the cycle. Plus, "Henry Blodget" has always sounded like such a fantastic Dickens character to me. Hat tip to Thairish for this one.