Six months ago when I worked at a very popular midtown hotel that held many high-profile financial meetings, I had the pleasure of overhearing one of those American Psycho pricks give an over the phone interview with NPR right by my desk. It was around when Bear Sterns slipped into some troubled times.
I remember our financial group sales manager at the hotel freaking out, because a lot of the companies were starting to back out of the future meeting deals they were planning with us. A lot of these were off-site meetings (office was based in NYC, but staying at some hotel in NYC and renting out event space with catering). We're talking weekly or monthly meetings in the 6-7 figure range all in the name of celebration or "business."
The only thing I could really pick up on, since I don't really understand economy jargon, was the repetition of, "In the event of the collapse of a company, the fed (Federal Reserve) will be there to step in and monitor liquidity (lend some financial backing) to the company, the company remains as a player and the economy in turn will continue to be stimulated."
One month later after the Bear Sterns (JP Morgan merger) rescue, I was laid off from my position at the hotel (that lost a lot of money from financial company meeting pull-outs and an overall hit to the economy).
Six months later: The Fed to loan AIG up to 85 Billion. I guess that guy was only half right.