The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Les H who wrote (108577)	3/8/2008 10:07:55 PM
From: ChanceIs	Read Replies (1) of 306849

>>>the crisis had spread from mortgages to car loans, community credit and to the commercial credit market in general.<<< No, no, no. "Its contained." Who said that?? Bernanke - a year ago. Maybe Thain's predecessor at Merrill - when they had only announced a $6 billion loss. Maybe Paulson. >>>the credit crunch was a "liquidity bubble" caused by excessive credit awards during a long period of low interest rates. "Everyone bears some responsibility:<<< Hmmm. In grade school my instructors always taught to use the active (vice passive) voice. "was a liquidity bubble." Well gee whiz John. Did it inflate itself??? Or did Merrill blow it up - just the way they blew up Enron stock by swapping Nigerian power barges with Fastow's off balance sheet companies - while selling little old ladies Enron stock on the retail side. I sure don't bear any responsibility. I have been doing everything possible to take the car keys (my investment dollars) away from the drunken teenagers (that would be Merrill et al) and give them to the diligent (that would be oil companies). Memo to self: Buy some Merrill poots on Monday. When the CEO is passing the buck, you know things are rotten to the core. Hey!!!! Its someone else's fault. The American way. 'Eve gave me the apple.' 'The snake told me to do it.'

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