re: Taking a poll: Who thinks and why:

quote:

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I say #2. Consumer tapped out. 68% of GDP. Bear Stearns was a crack in the system, but somehow none of the banking issues we have now seem to draw concern. It's amazing.

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That's because it's just an entirely different situation. Banks in 2007 (and financial firms like BS) were stuffed with inordinate amounts of rated, securitized products that were essentially worthless AND lending against housing was completely out of control. Neither of those conditions exist today.