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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Victor Lazlo who wrote (60055)	6/28/2002 2:02:07 PM
From: larry	Read Replies (2) \| Respond to of 77400

victor, Well, that's the whole point of AG's easy money policy. 10 years ago when people buy a house, only 7% of them have downpayment less than 10%. However, that number has run north of 55% while the housing price shoots to the sky. And look at the number of zero downpayment (25%), and default rate among 0% rate GM cars in the first quarter (1/3). That seems pretty desperate and dangerous situation to me. And no one cares. As long as the banks can sell the house for a better price, they don't give a damn about defaults. The bankruptcy policy in the US is too way easy for people to take advantage of. I just don't think the game can go on for long period of time. And although I admit that we have the best economy in the world (IMHO), I think the difference is kind of skewed by data provided by the crooks from government to corporations. Corruption and greed are running high in our beloved America and we will pay dearly for that. Maybe not us, but our next generation. larry!