Press TV-On the Edge with Max Keiser-US Stock Markets-22-10-2010-(Part1)

[1977Melville]

I'd be reluctant to go against Marc Faber and Nassim Taleb

[emaij]

But if the mortgagees had been bailed out, we would have been rewarding the people who gambled the most and will have created crazy moral hazard. Of course we have just chosen a different moral hazard... one for really really rich people. No... what should have happened is the banks should have gone into bankruptcy and the people who had bought irresponsibly should have taken their hit. And then capitalists and entrepreneurs would have built an incredible NEW USA. We had our chance.

[doverlin]

The masses, in particular, this mass (me), have known for a couple of years how the scheme works. It boils down to a guaranteed rent (and profit) paid to bankers for the use of currency at the expense of the rest of us. This is obscene.

[smartcardia]

first!!!