Discussion in 'Wall St. News' started by THE-BEAKER, Sep 25, 2008.

  1. mokwit


    Still think this is a spoof. it is just so unsenator like to say such things. think of all the lobbyists she is upsetting.

    I suppose she could just be so clueless that she thinks congress stands for what it purports to stand for.
  2. Ignorant biased garbage.

    Where did all this debt, zillions of dollars, come from which has swamped the US financial system? From tens of thousands of Americans who have abandoned or defaulted on their mortagages. They decided, f**k it, I'm not paying a mortgage if it isn't an easy ride of my house price perpetually going up, I'm getting off. And so they have.

    No, Wall Street did not create this supernova of debt. They took these mortgages as assets which are now illiquid and largely irrecoverable and they have been trying to absorb it. All the Federal Reserve is doing is stepping in to massage the process.

    So all you 'have-nots', failures and non-traders, try and get real, for once in your lives.
  3. i watched paulson and bernanke on bloomberg tv yesterday evening and i was impressed. they not only lacked the arguments but also the strength and belief to justify upon congressmen that the 700b bailout was paramount in preserving the future of the nation.

    it certainly looks like this has to be done just because we live in a plutocracy rather than anything else...
  4. Bernanke looks totally resigned nowadays. Paulson looks like the "tough CEO" part with a angry face.

    After the Cold War peace dividend, the US made a lot of money - and Greenspan allowed fraudulent murky debt assets be part of a corrupt lucrative new market that has cost the world roughly USD 1.3 trillion so far, according to the World Bank (or was it the IMF chief?).

    Well, the profits in the fraudulent scheme encouraged more lending, since that also racked up this new industry of debt backed assets. It was the accelerating greed of corruption in a financial system that made this happen - it was not demand from consumers at all. The system was created and presented to consumers who started super-sizing. After all started to break down, no one are taking the blame for the corruption of the financial system, and Greenspan is no longer accountable - high-tailing it before too late.