This NPR program goes into great detail and clearly explains the problem we are all in today. After listening, I am even more opposed to the bail out. It is worth the time to listen.
NPR
The entire process is disgusting. It is really disturbing how much fraud was part of this blow up. Now they want tax payer money? I am also convinced the government will not make money on this deal. Taxpayers will be stuck with the worst of the worst investments resulting in huge losses.
The irresponsibility that permeated this mess will cost us all dearly. My guess is it will occur again within 10 years. Privatizing profits and socializing losses makes everyone forget the nasty side effects of risk.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment