They are asking to keep the profits and have others absorb the risk. It’s past the time when the adults need to take over and give the “children” a time out.
]]>I do use credit cards but only for convenience and to play their game to my benefit. I get my 3% cash rebate and always pay the bill in full each month.
]]>The big players in the financial system are longer trusted or trustworthy. They bet more than they had and the time has come to settle up.
]]>She made good money under Clinton, but it didn’t take long for her to figure out that the Republicans were destroying the market.
Wall Street leveraged everything and now they have to settle their accounts. It always happens.
]]>It’s not liquidity or a credit crunch. It’s a solvency problem. Everyone has too much debt. I don’t see how giving (incompetent) banks more money to lend is going to help. Consumers are already under water and so are some corporations.
Housing prices need to fall back to a level more in line with people’s income. Then they can afford to borrow and still afford their other bills.
I don’t have the answer by the way. Maybe people need to start saving more. There’s a concept. Don’t buy anything you don’t absolutely need until you can afford to pay for it.
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