WWTBAM Bored

http://www.reuters.com/article/newsOne/ ... R720090220

This is a 3rd World/deteriorating state headline.

Banks and other financial institutions completely ignored every sound principle of risk management in showering themselves with this worthless paper so they could achieve good quarterly results, and, not coincidentally huge bonuses for their executives and other key employees. Now they are reaping what they sowed. As a capitalist, you should be quite content that banks are failing because the non-regulated law of the financial jungle is the capitalist utopia.

I don't think that banks will be nationalized, but if the alternative is the total collapse of our financial system, it's an easy choice to make.

I also think that most people with a sense of financial smarts, as opposed to the main stream media and the Obamabots, have figured out that he's already blown his best chance to deal with this crisis by giving in to Nancy Pelosi and her friends instead of dealing with the crisis.

Spock wrote:http://www.reuters.com/article/newsOne/ ... R720090220

This is a 3rd World/deteriorating state headline.

I heard a commentary on CNN last night suggesting that the US was already a "3rd world country" based on its exports. Our top 10 exports are all raw materials of one sort or another rather than finished goods, technology, etc. This is the case with other 3rd world countries and accounts for depressed wages, poor living conditions, etc.

silverscreenselect wrote:Banks and other financial institutions completely ignored every sound principle of risk management in showering themselves with this worthless paper so they could achieve good quarterly results, and, not coincidentally huge bonuses for their executives and other key employees. Now they are reaping what they sowed. As a capitalist, you should be quite content that banks are failing because the non-regulated law of the financial jungle is the capitalist utopia.

The bolded is most decidely UNTRUE.

The financial system is the part of our capitalist system that needs to be HIGHLY regulated in order for capitalism to function as it should.

Spock wrote:http://www.reuters.com/article/newsOne/ ... R720090220

This is a 3rd World/deteriorating state headline.

If our run is over, it's nobody's fault but ourselves.

How long did we think we could last as a society based on conspicuous consumption?

its time for a new deal to reestablish the middle class and banish reaganites and bushies to the political wilderness for 40 years

BigDrawMan wrote:its time for a new deal to reestablish the middle class and banish reaganites and bushies to the political wilderness for 40 years

Sigh.

Is there anyone in this country that speaks in something other than partisan talking points anymore?

Jeemie wrote:

BigDrawMan wrote:its time for a new deal to reestablish the middle class and banish reaganites and bushies to the political wilderness for 40 years

Sigh.

Is there anyone in this country that speaks in something other than partisan talking points anymore?

Since you ask, yes. --Bob

Bob78164 wrote:

Jeemie wrote:

BigDrawMan wrote:its time for a new deal to reestablish the middle class and banish reaganites and bushies to the political wilderness for 40 years

Sigh.

Is there anyone in this country that speaks in something other than partisan talking points anymore?

Since you ask, yes. --Bob

Oh, please...