GREED....It STRIKES AGAIN!

[lasersailor184]

Greed is the root of all that is great in man.


It's socialism that is the root of all evil.

[Shamus]

I would agree, if we didn't guarantee bank accounts, pensions and bail out the bankers that bought all those  bum mortgages, folks would be more careful, but those bankers come to the government and claim the entire financial system will fail if we don't.

Guess what..they are probably right, but they screamed bloody murder in the 90's that regulation was killing them and successfully lobbied to get Glass-Steagall repealed, another example of privatizing profits and laying the losses off on the public, cant blame them for wanting it both ways I guess, they saw what happened in the great S&L caper. 

shamus       

[ghi]

The inevitable collapse of the dollar
http://www.youtube.com/watch?v=4n3g5lUgkWk


Ron Paul on the economy
http://www.youtube.com/watch?v=_FGeHvDgyMc

[AWMac]

Check out some of the CEO's, CFO's that are ducking outta BIG Corporations and see what they recieve at the door.

Verizon
Level3
McLeodUSA

It'll make you wanna puke... and they get away with it.

Mac

[Lumpy]

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America

[Excel1]

I would agree, if we didn't guarantee bank accounts, pensions and bail out the bankers that bought all those  bum mortgages, folks would be more careful, but those bankers come to the government and claim the entire financial system will fail if we don't.

Guess what..they are probably right, but they screamed bloody murder in the 90's that regulation was killing them and successfully lobbied to get Glass-Steagall repealed, another example of privatizing profits and laying the losses off on the public, cant blame them for wanting it both ways I guess, they saw what happened in the great S&L caper. 

shamus       

a similar situation to the u.s sub prime fiasco is happening in new zealand. easy credit, zero deposit high interest rate mortgages coupled with an over heated housing market has and is sending finance and investment companies to the wall. plenty of financial pain involved for a lot of people, but unlike the u.s nz truly does have a deregulated economy, so no bail outs or government interference. it's generally accepted here that by biting the bullet now- the economy will adjust and work through the problem quicker than if the government starts to meddle with it. the situation caused by sub prime mortgages in the u.s from what i can tell is more serious than the problem here in nz, but just about every local financial commentator on the subject that i have heard seems to think that the federal reserve is only prolonging the pain.   

[LTARGlok]

Greed= The root all all mans problems!!

Alas, man is the root of all of man's problems.   

OK, well, sometimes it is woman who is instead the one at fault.