|09-28-2008, 07:15 PM||#1 (permalink)|
Join Date: Nov 2006
Just what the doctor ordered?
What would happen if there is enough stonewalling in congress that the proposed bailout agreement doesn't get passed? Fat chance, I know, but let's just suppose. Would that really be a bad thing? After all, why should the US Gov't reward risky speculative investments? For a while there, my cat could have gotten a loan for a real Kitty Condo, and she would probably only be able to pay it back with dead mice and litterbox leavings. Anyhow, if the large banks that backed all of these risky loans did suddenly go belly up, what would be the worst thing that could happen? The small banks that didn't make risky loans would be fine, it would be the big ones that would be in trouble. What would happen if the giants fell? Depression, and again, would that be such a bad thing? According to a blog posting I just finished reading, a depression might be just what this country needs right now. It would put an end to globalism and adventurous foreign wars, and encourage investment in manufacturing and infrastructure here in the United States.
|09-28-2008, 10:23 PM||#2 (permalink)|
Join Date: Jan 2008
Location: Byram, NJ
Very good points! I do agree that I really hope this bailout gets rejected if it doesn't have a clause limiting executive salaries. People need to understand that our money system is based on debt and that we do not need these tons of giant coporations running things. I'm all for more small and medium businesses. A depression could be exactly what we need to wake up America, and to get people out of this problematic and corrupt money system.
|09-28-2008, 10:37 PM||#3 (permalink)|
Join Date: Nov 2006
Location: Berlin, Germany
Nobody really knows what would happen.
The problem is that a lot of the systems in our modern society are build to be as efficient as possible. They don't produce "slack" that balances out mistakes.
If a central system like Wall Street simply fails all kinds of people who thought that they could model their risks on the bell curve face a situation that is completely unlike the thing they imagined.
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