Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (107803)	2/3/2010 10:56:50 AM
From: Steve Lokness	1 Recommendation Read Replies (1) of 116555

Mish; Why did people buy houses they cannot afford? Why leave the idiocy of bankers off the list? You give a whole list of evils but give bankers a pass. Allll of the reasons you gave could have been overcome if bankers had just had a moral compass to guide their lending. A morality driven by the fact that if they make a bad loan - they will lose money. Yes, relatively speaking, teacher salaries are not as problematic as police or firefighter salaries, but is that a sound reason to avoid fixing a fundamental problem with teacher pensions and union rules that protect the worst employees? Yes I agree, but how can we disparage public employees when their tax money goes to bail out bankers who get million dollar bonuses .........after they failed much worse than teachers have?

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