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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (67410)	8/3/2006 5:16:54 PM
From: shades	Read Replies (1) \| Respond to of 110194

There just is no plausible scenario under which the government would bail out consumers at the expense of banks and creditors. The Bankruptcy Reform Act should be proof enough of that statement. The government - they are elected by "the people" and if the people get MAD enough or restless enough those 98% incumbents are going to be out on thier arse - so it comes down to who has more POWER - the gubbment or a few rich bankers eh? When the people demand short term gain and to hell with long term pain - why do you think the FED is going to be the winner in that battle? The VOTING PUBLIC are very shortsighted and narrowminded eh? I agree if the fed COULD control the runaway train it is in their best interests to keep the dollar around - the treasury guy paulson just said this - but the ultimate power lies in pissed off voters who will get thier way no matter the rich bankers will to the contrary eh? If long term mattered - people would have bitched when ss funds were raided eh? And only voted in congresspeople that kept a balanced budget and didn't rob peter to pay paul - everything I see is that voters vote in guys who rob peter - spend the money and never pay paul. Remember all the political chaos that happened during the great depression - it was a madhouse - congressmen claiming mafia were taking hits out on them in 1932. Do you really think princess gives a damn about some child that isn't even born yet and the america that child will live in? I see princesses not even give a damn about thier own real baby! No I see people straining under that debt and gonna bitch and vote in ways that helps thier immediate short term problem - that bankruptcy bill that got passed may get overturned when the people are squeezed hard enough. By the people, for the people, of the people. Phil says again and again there are going to be a lot of people locked up at the end of all this Housing sillyness. Professor Black said Greenspan got away with it in the S&L crisis - but will they get away again?