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

To: John Vosilla who wrote (80248)	3/23/2007 8:30:35 AM
From: 5thGrader	Read Replies (1) \| Respond to of 110194

Senate Banking, Housing & Urban Affairs Cmte. Hearing on Mortgage Market Turmoil Sen. Christopher Dodd (D-CT) examines turmoil in the home mortgage market during a hearing of the Senate Banking, Housing & Urban Affairs Cmte. The chairman is expected to look at the increase in home foreclosures and solutions for the problem. CEOs of the top five housing lenders testify. 3/22/2007: WASHINGTON, DC: 3 hr. 3 min. cspan.org; Here is the archive for the people that missed the live feed. a willingness to LET the market work, to allow it to punish foolish decisions.' Again, education can be passed on by personal heartache or by learning from others. I don't understand how trotsky can say with a straight face that sending buckwheat in to jim cramers office to do business and then as mel martinez said getting suckered into a "nightmare of a lifetime of debt" is going to help buckwheat through the school of hard knocks. Sure at that point he may have learned his lesson, but its too late. Mel Martinez looked like he was sweating bullets to me, he is going to have a lot of constituents back in his state that got burned because of thier ignorance, and as he accurately asked the fed boys - how could honest men write loans that they KNOWINGLY expected to fail in 6 months to 2 years? My grandpa was not college educated, he lost his farm because he trusted the system, after he learned that trust was misplaced, that lesson did him no good, his life was ruined. All of my uncles recently went from being just mere millionaires holding thier publix stock to multi multi millionaires in publix stock - they learned from grandpa - debt is for suckers. His lesson didn't help his life however. That kind of lesson could have been avoided. I have learned a lot reading things here, from phil, and many other sources that I did not have to learn the "hard way" as trotsky and the senators on the banking committe said. I fail to see how the very senators and other crooks that let the horse carriage run away are going to be able to fix what is broken now that it is tumbling over the cliff. My grandpa taught me a lot of his lessons I didn't have to learn the hard way. I fundamentally disagree with trotsky that newborn babies have a chance against evil crooks without passing knowledge onto them. Buckwheat needs education and good examples - the school of hard knocks can be avoided. We teach 5th graders tons of useless facts that will never have any application in thier future, but how many are taught how money is created and fundamental economic ideas? It's been awhile since I was in high school but it wasn't until college before I got any of that formal education. Trotsky read Mises no? I wonder how trotstkys life would have been different if he had grown up in inner city detroit as a street gang member who walked into jim cramers office to do business - hypocrisy! He would have been just as snowed as many millions already have been. Here is a video that was posted on russ winters blog. It doesn't take gold to fix what is broken, it takes honest men, as long as corrupt jim cramers are all over the globe, nothing will change, society will progress one funeral at a time or descend into chaos one funeral at a time. video.google.com This kid had the same education and connections as jim cramer to excel in a fair/free market?? You don't honestly believe that do you Trotsky? Momma and daddy slave away all day to make the bills and send the kiddies off to the state to be educated. We need runaway spending to help the kiddies get educated without hard knocks. MIT free courses ocw.mit.edu