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re: Reality

Posted on 11/19/08 at 11:44 pm to
Posted by clamdip
Rocky Mountain High
Member since Sep 2004
18007 posts
Posted on 11/19/08 at 11:44 pm to

I said when the bailout vote was happening that I didn't think it would help much if at all... exception being the raising of the FDIC insured limits to prevent all out panic.

That said, there are many people a lot smarter than me who think that Paulson letting Lehman Brothers go under was a very big deal. The big domino in the credit freeze.
Posted by Gridiron Guru
Lafayette
Member since Nov 2007
1441 posts
Posted on 11/19/08 at 11:59 pm to
There should have been a credit freeze until the liars & overleveragers were put on the spot & dumped out like the bad seafood they are. Instead, our wonderful government has taken every dime of legitimate liquidity we have in this countryn & continued to prop up the unsavable. This will lead us not into a big recession or even a mild depression, but into the total insolvency of the US monetary system. It is only a matter of how many months. We cannot dig our way out of this one & even if we could, our political leaders don't have the intestinal fortitude to say no.
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