| Khuutra said: Am I oversimplifying it when this makes me think that the quickest way out would be to... uh... Well I can't be reading that right. Is the quickest way just to default on the credit debt, kill a few corporations in the process, and free up the money flow? Also, to shoot money lenders in the face? |
Yeah. The longer we allow the current practices go on, the bigger the hole will be (and taxpayers will have to bear an enormous amount of interest on the debt governments take in the process).
For all the talk about regulating banks, check out this recent article, which IMO amounts to new banking fraud happening right under everyone's nose:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aeTzfvEedKpQ
Basically banks are starting to repackage toxic mortgage debt into AAA rated financial products. AAA is the highest rating.
Banks, ratings agencies, pension funds which buy those financial products are all complicit in continuing to hide bad debt under the carpet (when they don't shift it to the government).
My Mario Kart Wii friend code: 2707-1866-0957
