why are e going to bail out the two largest subprime lenders?

[skyboat]

This situation will make the savings and loan scandal look like a picnic. One wrong move could bring about the next great depression. Ugly times for many people are unavoidable at this point.

This I must, unfortunately, agree with....

Fortunately, and I truely believe this, globalisation has made the world smaller. The global economy is much more resiliant to economic shocks. There will be great short term pain, but a global depression, I hope not........

 

[hate2bL8]

your all a bunch of socialists!

 

[hate2bL8]

by the way the great depresion was caused by the smoot-Hawley tarriff (government tinkering) something to think about fellas!

 

[becket]

Almost 50% of ALL mortgages are held by either of these two entities. They hold over 5 trillion dollars in loans...

What do you think would happen to the economy if all of the sudden they became insolvent? This isn't corporate welfare. This is a cornerstone to our economy and way of life.

 

[JT12345]

I thought the Great Depression was caused by people being allowed by the government to buy stocks for 10 cents on the dollar.

All these funds buying oil for 5 cents on the dollar and trading oil contracts in their basements... deja vu'.

This is all allowed by the government to prevent most of us from retiring like we planned. It's a 15 year cycle.

 

[Medeco]

Are F'n kiddng me?

You people crack me up.

Fly your plane and read a bit more before you make such crazy statements.

It's no wonder people think we (pilots) are a bunch of know it all morons.

Medeco

 

[labbats]

Crack open the Wall Street Journal instead of the USA Today and you'll have all the answers to this mess as well as the reasons it began.

I can't begin to recapture the statements in today's paper. Suffice it to say it was near unavoidable in 2008 yet Alan Greenspan was very vocal about fixing it in the early 2000s. No one listened because he was drowned out by greed. End of story. However there is some silver lining if the government will get off their hands and let it Fannie and Freddie die out over the next few years. Sadly that's a long shot due to the very reasons no one fixed it years ago.

 

[dbrownie]

The real reason is they are awash with corrupt former

gov lackies. See if you remember any of these folks..



http://www.npr.org/templates/story/story.php?storyId=92540620

DB

 

[YourPilotFriend]

Eventually they will be able to solve this problem with hyperinflation. Diversify in such away that when the dollar tanks you will have enough money to leave this country.

 

[relief tube]

because if they fail, this economy crumbles.

If 2 airlines fail, there's so many frickin' airlines that that it'll probably be a good thing for the industry. sad as that sounds.