I really like, and believe, this explaination of the problem.
Trust Capitalism
Further examples of how government involvement makes problems worse, not better. The very reason Paulson and Crew need to leave this one alone.
Showing posts with label credit crunch. Show all posts
Showing posts with label credit crunch. Show all posts
Monday, September 29, 2008
The Mortgage Blow Up BS
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.
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.
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