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

To: Road Walker who wrote (477991)	5/5/2009 2:46:37 PM
From: HPilot	Read Replies (1) \| Respond to of 1575230

If the government hadn't backed the banks, the whole thing would have collapsed. No, it would have gone into bankruptcy. There would have been relief there. IMO the government should only step in during or after bankruptcy. Then everybody can operate with more information.

To: Road Walker who wrote (477991)	5/7/2009 9:16:01 PM
From: tejek	Read Replies (3) \| Respond to of 1575230

They are loans that are insufficiently collateralized. Some... we will soon find out. If the government hadn't backed the banks, the whole thing would have collapsed. Now the banks are regaining the ability to raise private capitol, and the trust between banks has pretty much returned. Without the government backstop we would be in a world of hurt today... quite possibly with food shortages and certainly with huge unemployment and fuel shortages. Damn! It wasn't just hearsay. The spreads in the LIBOR and TED rates had grow to extraordinary proportions. The credit markets were completely frozen. When presented with the facts, Congressmen came out of the session with Paulson looking as white as ghosts. The entire global financial system was on the brink of collapse. The country, Iceland, filed BK. Meanwhile, like Nero, inode plays his ridiculous violin. He foolishly thinks that by underplaying economic debacle, he will strenghthen the Rs and bring down the Dems. What a silly man.