Weimar hyperinflation,1922-3
$700 billion+ to bailout CEO's and shareholders who made bad bets?
Why not take the money and set up a new national bank? Why not use the money to pay the interest on the defaulted mortgages, thus making them whole?
Let the banks go bankrupt. "Derivatives" and unregulated greed are behind this mess. End speculation. Revive the Glass-Steagall Act. Put the crooks in jail.
I think its too late- a total economic collapse seems just around the corner. War in the Middle East, and elsewhere, seems about to accelerate or break out. The Dollar is collapsing, as Russian warships sail toward the Caribbean. The Kremlin wants to put Nuclear missiles back in Cuba. The Bush gang caused the deteriorating relations with Russia- we lecture them on how to run their society and we try to encircle them militarily....
The bad loans that individuals took out for mortgages that they eventually couldn't handle only amount to $61 billion dollars. Why couldn't this be paid off with a smaller bailout and end the mortgage crisis ? Because it's too late to do so... derivative debt bombs are exploding elsewhere.....over $100 trillion in bad bets are outstanding and about to go bust.
The Glass-Steagall Bank Act prevented insurance and Investment firms from getting overly involved with mortgages. Repealing this Act loosened up this prohibition, and the derivative casino-which already was a problem- opened for business 24/7.
The markets should be allowed to fall, then the market can correct itself in about 4-5 years, with the proper regulatory safeguards in place.
Alan Greenspan and his low interest rate- housing bubble are also partly to blame for the mess.
Bailouts=tax slavery for our children, and a further fall in the value of the dollar, which means we will all pay more at the pump and pay more for food.
Has an entity with deep pockets deliberately made short sells and seized up the lines of credit? Trades originating from London and Dubai look very suspicious.
Why not take the money and set up a new national bank? Why not use the money to pay the interest on the defaulted mortgages, thus making them whole?
Let the banks go bankrupt. "Derivatives" and unregulated greed are behind this mess. End speculation. Revive the Glass-Steagall Act. Put the crooks in jail.
I think its too late- a total economic collapse seems just around the corner. War in the Middle East, and elsewhere, seems about to accelerate or break out. The Dollar is collapsing, as Russian warships sail toward the Caribbean. The Kremlin wants to put Nuclear missiles back in Cuba. The Bush gang caused the deteriorating relations with Russia- we lecture them on how to run their society and we try to encircle them militarily....
The bad loans that individuals took out for mortgages that they eventually couldn't handle only amount to $61 billion dollars. Why couldn't this be paid off with a smaller bailout and end the mortgage crisis ? Because it's too late to do so... derivative debt bombs are exploding elsewhere.....over $100 trillion in bad bets are outstanding and about to go bust.
The Glass-Steagall Bank Act prevented insurance and Investment firms from getting overly involved with mortgages. Repealing this Act loosened up this prohibition, and the derivative casino-which already was a problem- opened for business 24/7.
The markets should be allowed to fall, then the market can correct itself in about 4-5 years, with the proper regulatory safeguards in place.
Alan Greenspan and his low interest rate- housing bubble are also partly to blame for the mess.
Bailouts=tax slavery for our children, and a further fall in the value of the dollar, which means we will all pay more at the pump and pay more for food.
Has an entity with deep pockets deliberately made short sells and seized up the lines of credit? Trades originating from London and Dubai look very suspicious.
posted by Zero at 8:07 PM
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