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"The world is a dangerous place to live, not because of the people who are evil, but because of the people who don't do anything about it." (Albert Einstein)
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Wednesday, September 19, 2007
| What the f... are you saying? |
Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets
Man, I'd really like to meet the pushers of those market specialists. Or their scribes at some rag/netwire outfit...
Consider the reality/alternatives. Extreme prediction: 10% of mortgages are non-prime and dissolve to a value of zero. So what? Balance sheets of risk takers dissolve. Properties, for those who cannot meet payments, hit the market at digestible prices. Who loses? the big risk takers. And those who believed in them. Good on 'ya!
Im starting to worry that the widely u-tube cloned rant of some Wall street fart asking Bernanke to protect the class's privilege to swat their Porsche every 173 days and give their office walls a new mahogany finish is starting to stick. 'disruptions in financial markets...' Nothing to do with the real world, but some 7-jumbo starbuck-spiked analyst-priest has heard 'The Word'... and is now trying to sell it!
True. Year 3 of a Presidency gone totally awry. Must protect the face of the Empire.
Real question: is it still possible?
Discuss
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