NSAV Holding Inc (NSAV)

[Russ49]

It couldn't be managed by them. The financial markets are interwoven. Many had mortgage backed securities in the US which were triple A rated. We know what happened there. When the housing market was going up, everything was fine. Once it took a dive, a downward "death" spiral happened and they can't pay the interest on their debt. Now, they are doing things to try to stop the downward spiral. However, there is only so much they can do without severe pain to the people of the countries involved and we can't help them much because we have our own problems. We have to hope that the Germans and the French print more money and do what they have to do to keep the Euro afloat. And the Chinese come in and buy more European debt. They have their issues too though as discussed in the recent Time article "The China Bubble". We are in a very precarious time. It could go either way. It really isn't a time to put more money into stocks. That said, Warren Buffet just bought $6.7 billion of IBM. That's in addition to his huge stake in Bank of America, and others. He's looking 3-5 years out, not next month as most of the people here.