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Author: pedorrero Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76883  
Subject: Re: Take my money and run Date: 9/20/2008 5:01 PM
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The cynical answer is that government is bailing out its cronies (big banks, business, you name it.) A more charitable view, perhaps as accurate, is that to stand aside would very likely lead to the long-feared (by paranoiacs like me) final collapse of the US, and probably, the world economic system.

You have to realize that the world economic system (banking, lending, etc.) is a fairy castle built in the air. There have been some very stupid things going on for a long time (e.g. loaning mortgage money to folks who should never have been issued a credit card, much less a house.) and huge imbalances that make the whole system ever more ungainly. Even a brief study of world history will show that this is true.

The system will collapse some day and it will be a very unpleasant time to live through.
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