Quote:
Originally Posted by BonzoHansen
They let lehman go. They told Merrill they were toast too. But if they let AIG go we'd all be ****ed. At least AIG is a loan and the govt appears to have negotiated pretty steep terms, including senior mgmt must resign.
Blame the politicans & regulators who let these idiots do what they did.
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I blame them, I blame those who run the companies and I blame any person who signed on a mortgage that was far beyond what they could afford. And I don't want to hear that people were misinformed or did not know the risks. What's the rule of thumb 28% or 3x your salary or something very close to those numbers. Not 300k on 70k salary coupled with massive credit card debt.
Stupidity abounds and sadly now it will cost us, the taxpayers and those who manage their financial resources in an appropriate manner to the tune of 700 billion +/-...
I wonder what kind of national healthcare plan 700 billion could get us?