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Radical bailout plan has a jawdropping price tag
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[QUOTE]Originally posted by Machiavelli: [QB] [QUOTE]Originally posted by glassman: [qb] [b]I wouldn't call beg... I would call it calling in a favor[/b] beg? or favors? i don't care what you call it, they REFUSED and triggered the collapse we are in now... before you say i'm blaming them? forget misquoting me... we did it to ourselves by being dumb enough to allow this freetrade BS to begin with. it's a series of stupid decisions that are not and were not inevitable... i actually pointed this stuff out as it was happening. i beleive we are at war and we are losing this one. [/qb][/QUOTE]I don't blame the Freetrade at all. The only problem with Freetrade is that it seemed to be a oneway street. From them to us only. Had it been more two way it would of made us stronger. I do blame the banks, brokerages etc. with their greed though Mike Bloomberg doesn't: MIKE SLAMS 'NOW' SOCIETY Comments: 3Read Comments Leave a Comment By DAVID SEIFMAN Posted: 3:55 am September 17, 2008 An "I want it now" society that refuses to live within its means is partly responsible for the subprime-mortgage crisis, Mayor Bloomberg said yesterday. "I think you just can't blame the banks," he said, taking borrowers to task. "They say, 'I want the great American dream. I want it now and I'm not going to wait until I put some money in the bank.' . . That's where we lost the moral compass of saying no to people who did not have the earning capacity to support a mortgage." Long before the collapse of Lehman Brothers and Merrill Lynch, Bloomberg had been warning that "nothing keeps going up forever." The one thing I do agree with him is the Nothing keeps going up forever. This is the one lesson everyone forgets in good times such as the stock market, real estate market etc. We keep repeating history and never put safeguards or we put safeguards that aren't strong enough to stop messes like this and we only put them in as a reaction. That is the problem with this country with any issue. It's always REACTIVE. [/QB][/QUOTE]
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