"Too_Many_Tools" wrote in message
...
On Mar 22, 9:35 pm, "Ed Huntress" wrote:
"Wes" wrote in message

...

"Ed Huntress" wrote:

I don't follow what you're saying here. People were making millions
flipping
all kinds of crap houses. As for ARMs, the idea is that you refinance at
a
fixed rate when the time is right. Only now you can't. It didn't look to
*anyone* that such a thing was likely to happen.

Enron once looked like a sure fire deal once upon a time. I just do not
see
why government should bail people or companies out for poor decisions.

Well, they shouldn't. The reason they are is that the rest of us will wind
up paying more if they don't. There's a good analysis of it in this week's
_The Economist_. They say that the bailout will cost about $300 billion,
and, if it works, will save the rest of us about $1.2 trillion.

That's why we're bailing them. But Congress, the Fed, and the Treasury
Dept.
are already working on new regulations for the unregulated part of the
finance industry, and, particulalry if we have Dems running the show next
year, they'll probably clamp down like there's no tomorrow. Likely they'll
clamp down *too* hard.



You seem to be endorsing the idea that we are NOT responisible for our
actions.

Jesus, Wes, don't turn into another one of those guys who can't
distinguish
a few facts from an entire ideology. We have enough of those around here
already.

Focus on the facts. Forget your philosophy. When you have all the facts
and
you're able to look at them objectively, you can cook up a philisophy
about
them if you're so disposed. Right now, all the philosophies have turned to
crap. It's not the time to commit suicide for the entire economy because
you're worried about "moral hazard." The time for that has passed.

--
Ed Huntress

In my opinion, the Dems can't clamp down hard enough.

Starting with criminal charges for many in the finance industry.

TMT

I figured you were of that opinion. That's why we're lucky you aren't making
the decisions. d8-)

--
Ed Huntress