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Investing/Strategies / The Paulson Plan
|Subject: Re: To all those against it...||Date: 10/29/2008 4:22 PM|
|Author: SockPuppetMan||Number: 1554 of 1568|
I agree with you that these wallstreet bastards do not deserve to be paid, also consider that it was ACORN, and other community organization groups like ACORN, that were putting lots of pressure on organizations to loan money to people that had less than stellar credit histories, as well as, the government under President Clinton that wanted to push legislation that allowed this along with the FED and Alan Greenspan that further exacerbated this whole situation by lowering the FED funds rate to such a low level.
Building up to the perfect storm took something like 10 years and we're the ones that were doing the rain dance...
Again, 1% is low as heck but we see that if banks aren't willing to be pushed around, abstain from lending to anyone and everyone, and rebuild their balance sheets. If so, then this Market pain has been worth it.
-_- Alex -_-
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