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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (373874)	3/12/2008 7:31:34 PM
From: tejek	Respond to of 1584959

And it can't come too soon. The economy clearly is struggling. The job market is shrinking. Sales of new single-family homes are off almost 40% in the past year, dragging prices down by 12% -- and the betting is that the bottom hasn't been hit. Nearly 2 million mortgages are in default -- a number that could surge if unemployment begins to rise. Yes, I do. I think the alternative was too disastrous to consider. Would have I preferred that some of the worst abusers had gone under? Yes, I would have. Unfortunately, it was the better companies that were taking the brunt of the problem. Like I said to Chris, I also think in the end the feds will make out okay with the exchange because the bad loans have been so deeply discounted that they are probably worth more than the feds are paying. Bottom line: the financial markets were so badly frozen we were in danger of throwing the US into a depression and the rest of the world into a serious recession. I believe there were few if any benefits to be gained by inflicting that much pain.