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

To: Road Walker who wrote (465391)	3/20/2009 5:30:01 PM
From: Alighieri	Read Replies (1) \| Respond to of 1572637

You have massive bankruptcy and nobody trusts the middle/lower middle class with credit again. The banks fail under that scenario...credit vanishes, businesses shutter...it's depression on steroids. Al

To: Road Walker who wrote (465391)	3/20/2009 8:31:11 PM
From: SilentZ	Read Replies (2) \| Respond to of 1572637

>Think about it. We're talking massive debt defaults if we keep spiraling down. Say the 'non-foxes' decide to let the banks fail. Who takes the existing credit card balances? The mortgages? They won't, so they get called. Pay up now. You have massive bankruptcy and nobody trusts the middle/lower middle class with credit again. The government establishes a department to assume them at no cost to us. We decrease the payments to points where we make the government some money but most of them can get paid. It's not where we really should be going, but it's better than where we are going. -Z