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If we had papered over our economic problems, I could see this drop as justified. but we've paid people to buy houses, cars and appliances. And we've given bi
by stretchwithme 17y ago
If we had papered over our economic problems, I could see this drop as justified.
but we've paid people to buy houses, cars and appliances. And we've given billions to banks so they can lend it back to the government at a tidy no-risk profit.
So, this correction makes no sense. The stock market should be zooming to the moon.
- rrhyne 17y agoI could also see this justified if we had completely failed to bring the lenders, lendees, brokers, appraisers and CDS originators who committed massive fraud to justice. So this makes no sense to me either. :D
- stretchwithme 17y agoAnd all the Congressman and Federal Reserve who created the housing bubble in the first place. Thank god they've fired and prosecuted. Those who exploited the bubble will always be ready to exploit government foolishness, so a new crop will sprout overnight.