Only if you're a deadbeat looking for the government to bail you out. It's the banks' fault, the deadbeats are all victims who blamelessly lived beyond their means and defaulted on legally binding contracts because the banks are evil. Must suck to be you
That wasn't the analogy, moron, and that's not my point which you continue to try to obfuscate because you can't dispute it.
I'm sorry, but you have no idea what you are talking about. Have you ever taken a basic course in Macro-economics? The CREDIT MARKETS ( and thus banking sector ) is what makes the Economy run. It has ALWAYS been the focal point. But because TARP-1 got changed at the last minute by Paulson and became a failure, we are no better off than we were 6 months ago when the commercial paper market (among others) totally froze! Why do you think Germany, Japan, China, and the UK are having so many issues and melting down as well? It's about the CREDIT MARKETS. Duh.
I think a 5yr old has better judgement than you or these clown bankers/subprime engineers concerning giving out no money down,no collateral mortgages. Apparently children are less naive than you or these bankers.
LOL at you guys who think that all people who took loans beyond their means are idoits some of these guys had no net worth (nothing to lose) no credit score or bad credit score and somebody gives them a loan with no questions asked It was risk free for them if the house market goes up they get rich if it goes down who cares you got nothing they can take from you. you be an idot not to take this who the fuck wouldn't take a freeroll
Either you're a total moron or you have zero sense of personal responsibility because my point has gone completely over your head. Are you so bitter because you're a "victim" of the banks?
It's worse than that. Congress doesn't have the reserves to handle a major blowout. Who is the insurer to the USA? Some risks are too big for anyone to be able to cover them. Joe Public will eat the losses, it's as simple as that. The only question is in what form those losses will be taken - FDIC insolvency, hyperinflation, punitive class warfare taxation etc. The entire US, and developed world, is leveraged long a bubble asset - banks are long housing on leverage, the public is long housing on leverage, and then the public are long bank accounts which are leveraged 10:1 or more too. The system could well be bust.
Look who doesn't know what he's talking about... you've been listening to too many talking heads. The credit markets are a means not an end and they've frozen for good reason.