At least there was a precedent ..... during the depression :rolleyes:
http://online.wsj.com/article/SB1205...hpp_us_pageone
We should just take the damage now. Let em fail. Aren't we like capitalists and shite?
OEC
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At least there was a precedent ..... during the depression :rolleyes:
http://online.wsj.com/article/SB1205...hpp_us_pageone
We should just take the damage now. Let em fail. Aren't we like capitalists and shite?
OEC
This is hairy fuckin stuff. The reason given for bailing em out is that THE ENTIRE ECONOMIC SYSTEM MIGHT COLLAPSE OTHERWISE.
This huge bailout keeps them going another 28 days, while the economy improves.
I got news for ya. Several banks next week are going to announce they've got similar problems, and the dollar will drop YET AGAIN as they lower interest rates.
GO BUSH
We are NOT capitalist. If I was to do some FOOLHARDY margin call at 39x what I own, and fail, I would NOT be bailed out.
'Twas being sarcastic :thumb: I won't use the word usually attributed to the economic system we're approaching. I don't know what else to call it though either.Quote:
Originally Posted by Bikerpunk
OEC