So what happens next? Another Bailout? Can we blame Bush? Obama? How about greed? They make bad choices, the markets goes down, and our economy suffers.
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7 comments:
Let them fail. They in no way should get another bailout.
-They shouldn't get a bailout, but trust me, if it comes to it, they will.
whether or not they get a bailout will be decided by whether or not they are obama supporters.
I can remember being younger and thinking that older people were just set in their ways and paranoid when they refused to put their money in a bank and instead put it in a coffee can somewhere. Now, after what hase been happening, I am considering the coffee can method. When you consider the fact that bank transactions will soon cost money AND the cost of fuel to make get to the bank AND the lowest interest percentages in history paid on savings accounts......the coffee can account has a better return.
It serves them right for betting in the "Hope and Change" that had never amounted to anything other than an empty campaign promise. Sadly, many more people will fall for it again this year and eventually the false economy that is being propped up today will collapse and every executive order Obama signed relating to the overriding of the constitution will be implemented. Those that vote for him will blame everyone else because they won't be able to face the fact that they will be partially responsible for the fall of our nation. Denial will be the word of the day for them. All banks will fall unde the direct control of the federal government.
so will they get a raise in bonuses this year
This shows how much volatility still prevails on hedging side. Cannot imagine the worlds renowned institutions failing. It is very clear the US Government allowed the institution of this stature to freely do whatever they feel. It is merely a poor risk assessment. Lehman Brother is another example. Today in our country State Bank of India would have gone through similar turmoil had it not due to strong Government controls. We criticize Indian Government many time but should thank for strong controls. In that sense our financial institutions are in very strong and less volatile than US financial Institutions. Slow and steady India can rise provided we control corruption.
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