So what does $700bn get you? Simple it bails the people at the top of the money food chain out, and gets the ordinary man into more debt.
The more and more you look at the so called finicial crisis (greed karma) the more and more you see people feathering there own nests, the greed that got so many banks into this problem, is still there and apparently more prolific than ever. Not content with making a mess of their own systems of finance they want the common man to pay for their mistakes, and bail them out – yet again.
Continue reading “The $700bn Question?”
With Lehman Brothers filing for bankruptcy and AIG looking less solvent than it should, you would have thought that banks would have stopped been greedy and start looking to solve there only problem.
What caused the problem – greed – on a scale that should have never been allowed, bundling ever big bad investments and selling them as good ones, the net result being that the banks can no longer stay solvent, and are dropping like flies. Look at Fannie Mae and Freddie Mac, between the two companies they secured over $6 trillion of mortgages in the US, and they couldn’t stay solvent.
Continue reading “Confessions of Economic Karma.”