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I don't care how much money the Fed and the Bank of England are giving them--it's only protecting their profits, not the overall economy, and we're in for bigtime trouble. We haven't even seen the worst of it yet.
http://www.bloomberg.com/apps/news?pid=20601087...
Still optimistic about that "soft" landing, RBS?
Now your beginning to see the light. And, you didn't make a silly comment like " But if the Dems will act..." Hopefully you realize that there is NO political solution to this. Its too late for that. The house of cards which is unregulated financial markets, has lost its foundation, and NO amount of "Borrowed" money can save it. Could take a week, or 5-8 months, but the bottom is going to completely fallout, and even they know it can't be stopped.
What bothers me the most is the wandering ditto head head ignorant traitor person I still have to listen to, day in, day out, still parroting complete and utter BS that this unraveling of the ponzi scheme known as Wall Street is because of people that borrowed more than they could afford. Completely typical arrogance and naiveity. These limbaugh scumbags, and I frankly just cannot believe people are so freaking stupid to even listen to those assclowns still, ALL spout how they were smarter than that, or have more integrity! ROFL. This root cause of the greatest collapse in history of wealth is the tiniest piece of it. Wall Street and its "creative" leverage is 1000 times more responsible, yet thats who we are enabling and bailing out.
Incidentally, of the almost TRILLION in short term loans, etc, made to Wall Street cronies, of course NONE of it will ever be paid back, you all know that right? LOANS? My ass. Phonly monopoly money, GIVEN to cover bad bets by gamblers,and, Nationalization of banks.
Who said the Bush admin isn't as Commie as any PRC card carrying member?
Maybe not--maybe it's a lack of ethics, maybe it's lack of care, maybe it's lack of a lot of stuff, like this regime is prone to.
Just sit back and watch the slew of lawsuits (civil, of course) by companies that may happen because of this conflagration. And watch the homeless population increase at the same time. What's their option?
Hey, go shopping!!
your the fool, pal.
But of course to recognise conspiracy is insane though, right? But its fine when you GOP boot lickers, anything for a tax cut, go on about the "left wing media"..etc..
you people should be so proud... ruthlessgravity...blind support for the very hangman on his way to drop you to your death. /golfclap
Also, I've been a Democrat my entire life. Being a Democrat and understanding finance and economics are not mutually exclusive.
Ruthless, I've worked for many companies during my 50+ work years. I've had more than a few tell me, "We're not a democracy here."
That statement you posted was just more bullshit.
I was stating that a political system needs to have an economic system that compliments it. There are very few combinations that have held up as long as ours. When political systems try to become economic systems, you get authoritative government with price controls (ie, communism). When government controls money supply, you get politicians managing economic systems to their own benefit (ie, Mugabe, Hitler, etc). Our system works because we have private banks that do the governments bidding by supplying capital to businesses and individuals. From time to time, the government must step in and save the banks from themselves with taxpayer money. Is there another combination that has had as few hiccups as our system? I'm waiting all day for someone to name one....
Greenspan did another media tour last week, this time defending his legacy in the Financial Times, Wall Street Journal, and on CNBC Television. Unfortunately the story from Greenspan was much the same: he reiterated that the financial markets are best left to self-regulate, and that investors around the world (not the Fed) took control of long-term interest rates thus leading to the U.S. housing bubble. Astonishingly, Greenspan added, “I have no regrets on any of the Federal Reserve policies that we initiated back then…’ and ‘I don't remember a case when the process by which the decision making at the Federal Reserve failed.’ Having already amassed a fair amount of criticism as the U.S. housing bubble deflates and the financial system teeters on the brink, is it any wonder that Greenspan’s most recent comments sparked a further lambasting? Who does ‘no regrets’ and never ‘failed’ Mr. Greenspan think he is - a cross between Frank Sinatra and Jesus?
It may be nice to think in his own warped little mind that he has no regrets, but there are millions in our country who are suffering now because this man didn't do his job as the chief regulator for our nations banks and those we elected were alsleep at the switch as well. It will take years to put Humpty Dumpty back together again, and in the meantime, those in D.C. seem to have no problem extracting yet another pound of flesh from we the tax payers in order to clean up their mess.