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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ldo79 who wrote (351208)12/16/2007 1:38:59 PM
From: stan_hughes  Read Replies (1) of 436258
 
Every time I read pieces similar to that one I am always amazed at how they never speak to the true reality, i.e. that no one wants to lend money now, not because they're irrationally distrustful, but because the people with the cash are becoming acutely aware that the collateral being offered in exchange is (still) not worth what's it being held it to be.

So a reluctance to lend is not irrational -- au contraire -- what was happening out there before the whip came down is the behavior that was irrational.

As such, the credit crunch isn't about frightened investors exhibiting childish fears or a lack of confidence, it's about the long overdue emergence of a display of investor common sense, and about being smart enough to not hand over your cash to someone that you know isn't going to be able to pay it back -- so where's the goddamn mystery in that
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