Now, our family can purchase that villa in France........
I wonder who in Washington comes up with the list of poor souls to bailout with our tax dollars? Tell me how these crooks deserve one penny of our hard earned money? If I went to any one of these greedy, poorly managed mortgage lenders and their supporting cast of investment bankers and wanted them to bail me out, what do you think my chances would be? Our government has taught them there is no penalty for making unsecured loans. They make their money off the top and sell the paper. Could we do that? I think not. I also blame the dolts who, knowing they couldn't qualify for a loan, went ahead and bought the mansion of their dreams and defaulted when it came time to pay the taxes and insurance. What happened to fiscal responsibility? I say let them fail. Sure it would be hard on us, but we are being worked like puppets on a string. People now have access to the markets by Internet and can buy and sell as they please. This sounds really good. I like the idea. However, many don't have an advisor and they know nothing about a long term investment strategy. This means those who have the lion's share of the stock can manipulate the market by using our gullible and complicit media. They can create panic and sell offs at will. Using the resultant fluctuations they can fill their pockets by knowing when these changes are likely to occur. They can also ruin those of us who do have a long term plan, but lack the funds to wait out the come back. I have lost confidence in the market for stable investment, but other investment sources are so compromised and entwined with it, our choices are limited. I am sure there are good people in the investment business who are smart enough to rid us of these crooks and get the markets operating on the normal ebb and flow of our economy, but they are powerless as long as the crooks are allowed to operate without consequence.
Because things are the way they are, things will not stay the way they are. - Bertolt Brecht