@allfreechips 178288 wrote:
Here is the thoughts of a Economics professor not married to wallstreet, Pretty much stating my thoughts, let them all gop bankrupt and let the markets adjust. There is too much at stake for the economy to implode, if they fail other investors will soar.
http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html?iref=mpstoryview
That’s the guy I mentioned seeing on c-span in a previous post. I didn’t catch his name as I saw it from the middle on. but now recall it after reading the article.
However, they had a caller segment and one caller brought up the Community Reinvestment Act and he said that was not the problem, he also said that sub-prime loans were just a small part of the problem. He’s kinda saying the opposite in the article. But at this point I’m tending to agree, just let the chips fall where they may. I didn’t know about the Community Reinvestment Act until this mess surfaced, however I did notice the ease with which loans were being handed out.
Can’t trust wall street, can’t trust the politicians. Who can be trusted?
This appears to be one of those “no matter how you slice it, it always comes out the same” which brings us back to the original problem, greed.