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The Bailout Bust

Submitted by Joi Reiner Gallo, Sep 30, 2008 11:05

Economics 101: Before any decision, consider the accuracy of what you are being told; evaluate the fundamentals undergirding the Risk Band; then evaluate whether you wish to take the risk. No one has been doing that for years. Not Wall Street, not the FRB, not FNMA, not Congress. Decades ago, Congress moved the model from NUMEROUS (read "spread risk") strong LOCAL banks & lenders serving LOCAL homeowners, LOCAL businesses & LOCAL farmers ... to a FEW (read "consolidate & increase risk") PLAYERS. Congress didn't stop there. The sub-prime is only the tip of the iceberg. Wait until the credit card industry collapses. That industry has become legalized loan sharking. What NONE OF THEM SEE is that the MODEL is wrong and the FOUNDATION is wrong.

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Other reader comments on this article

Comment	By	Date
The seizing of credit markets is extremely serious, and will be relieved only when financial institutions begin trusting federal law... [MORE]	Wayne Jett	Sep 30, 2008 13:59
What lost September 29's vote was the current speaker (Nancy Pelosi)! What possessed her to lambast the republicans prior to... [MORE]	jwatl	Sep 30, 2008 13:08
Decent commentary, right up until the last half of the last sentence. Pegging the dollar to gold or some other... [MORE]	kwo	Sep 30, 2008 12:08
Economics 101: Before any decision, consider the accuracy of what you are being told; evaluate the fundamentals undergirding the Risk...	Joi Reiner Gallo	Sep 30, 2008 11:05
I would agree that it is time for the government to get out of this business. And sending a signal... [MORE]	Mike Falatko	Sep 30, 2008 10:14
Do you honestly think McCain is lying when he says there will be no capital gains tax? Do you honestly... [MORE]	maureen rehg	Sep 30, 2008 09:27
If America believes in a free market economy and capitalism then Congress was right to deny this bill's passage. The... [MORE]	michael redbourn	Sep 30, 2008 07:50
It is well past time to impeach Pelosi and her cronies for the botched handling of the financial bill. The... [MORE]	James	Sep 30, 2008 00:43

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