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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Mary Cluney who wrote (150340)	11/16/2010 11:23:24 AM
From: Steve Lokness	Read Replies (1) \| Respond to of 542147

Think about it: the savings and loan crisis was about runaway banks Huh? That was over 20 years ago! The reason Ireland got in trouble is the same reason that Greece got in trouble and Iceland and every single case where Countries and/or people become over leveraged. In ALL of these case - every single one - the problem was too much debt. If you borrow more than you can reasonably pay back - something gives.

To: Mary Cluney who wrote (150340)	11/16/2010 11:56:47 AM
From: JohnM	Read Replies (1) \| Respond to of 542147

It should have been Texas. Nice line. And very appropriate.

To: Mary Cluney who wrote (150340)	11/17/2010 1:08:48 PM
From: Katelew	Read Replies (1) \| Respond to of 542147

How weird. Krugman's pdf file is a chapter about the S & L crisis back in the 1980s. What does that have to do with the housing debacled today? Nothing. In the current housing collapse, four states account for the magnitude of the it: AZ, NV, CA and FLA. This has been written up a gazillion times. I've never seen Texas included in any list. Of course, housing prices fell in every state and there's probably still excess housing in every state. But comparing TX to Ireland makes no sense at all. Krugman is really losing it or is depending too much on hired help to keep up with his column and blog. I'm going to rename Krugman, Krockman. The man is full of it most of the time and just flailing at strawmen.