Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: bentway who wrote (239236)	2/24/2010 2:04:41 PM
From: LLCF	Respond to of 306849

<Because of their success at heading off this global financial catastrophe, things seem somewhat "normal" other than the high unemployment.> I don't think it's that simple, BUT, I DO think if steps weren't taken (by Bush as well) that EVERY MAJOR BANK would have had to go into bankrupcy due to "counterparty" agreements. DAK

To: bentway who wrote (239236)	2/24/2010 2:07:04 PM
From: Mike M2	Read Replies (1) \| Respond to of 306849

I am opposed to a banking system which privatizes the profits and socializes the lossses and yes both parties shame the blame. see Message 26333846 . I disagree that the bailout of the bankers sytem saved us - it delayed the pain.

To: bentway who wrote (239236)	2/24/2010 4:09:53 PM
From: Perspective	Respond to of 306849

deleted <EOM>

To: bentway who wrote (239236)	2/24/2010 4:14:46 PM
From: Perspective	Respond to of 306849

<I don't doubt mistakes were made-but I'm not sure what they are yet> I am. These guys: en.wikipedia.org and these guys: en.wikipedia.org could have lessened the severity of this disease had they TRULY learned the lessons of the Great Depression, by stamping out speculation when it began to take over the system. Instead, these miscreants not only let it occur, but openly embraced and encouraged it. Greenspan, Rubin, Summers, and Snow, around the time of the tech bubble, were among a select few people on the planet who 1. had the authority and opportunity to change history for the better 2. the education and career background to understand what the right choices were 3. were tasked with taking such actions (ie it was their JOB) and yet they 4. ignored these and chose to encourage the bubble to the benefit of their buddies, the oligarchs on Wall Street, to the detriment of every other citizen of the United States We can debate about how much worse Bernanke, Paulson, and Geithner have made things, but the right path was not to permit the bubble to grow so large in the first place. When someone has accelerated the car to 120mph approaching a sharp turn and then yelled "HERE, YOU TAKE THE WHEEL!" the next guy in the driver's seat is under extraordinary circumstances and will no doubt make mistakes before the car vaults over the edge of the cliff. However, I have a hard time criticizing the fall guy. `BC