But Subman, if as a result the Snake Oil vendors are also in financial crap, then it was stupid of them too.
And it was stupid of international banks to make the mistake of thinking that American triple A rated debt (marked with a label saying "you can't lose, i promise" was trustworthy, without stopping to consider it might be a scam.
In short the stupidity lies not with whichever group best suits your political prejudices, but with who at the end of it is in the crap, when there were things they could have done to stop it if they hadn't been so dazzled by the prospect of vast riches.
__________________
"Enemy submarines are to be called U-Boats. The term submarine is to be reserved for Allied under water vessels. U-Boats are those dastardly villains who sink our ships, while submarines are those gallant and noble craft which sink theirs." Winston Churchill
|