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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: neolib who wrote (188629)	3/5/2009 5:27:40 PM
From: X Y Zebra	Read Replies (1) \| Respond to of 306849

I was unaware that fiction built this country. did i say that ? no. first, it was not ayn rand who built this country. however, it was individual effort that did, she recognized that. the opportunity to be willing to take risks, and the knowledge that you would be rewarded accordingly, and without pre-set limitations by politicians, whom if we were to apply the same standards to their own behaviors, we would have to jail them all. funny... her fictional tale has become reality. i wonder why. it was not all greenspan doing, yes, he was wrong, but he did not push reckless bankers into creating the mortgages that put people without the capacity to pay for what they were buying, nor he forced these 'home owners' (or clueless 'investors') to sign on the doted line... nor the derivatives created that are freezing credit markets. did ayn rand push greenspan to do what he did ? i do not believe so. did ayn rand believed that markets could not collapse ? no. did ayn rand pushed everyone of those INDIVIDUAL decisions ? no... it was greenspan who made mistakes... and individuals who executed each and everyone of those decisions. (and should acknowledge the corresponding responsibility) yet, you and roubini assign all the blame to her and/or greenspan. ok... those were individual decisions and in this world where NO RESPONSIBILITY is assessed because the blame is never assigned, but shifted... how can we take decisive actions, as it is evident currently... THERE IS NO TRUST i wonder why... again.. is the lack of recognizing the INDIVIDUAL responsibility that specific actions would yield specific results... and hiding behind committees and boards to blame .... whomever. those responsible should be prosecuted (assuming they broke current laws) and if not, those institutions should be allowed to fail... if not, this charade will be perpetuated for years to come.