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Originally Posted by Skybird
http://www.rgemonitor.com/blog/roubini/
http://www.nytimes.com/2008/08/17/ma...ssimist-t.html
It's a no-win-no-win situation. Accepting that package, does not enough, but still would come at a very costly price. not accepting the package, also comes at a costly price.
Well, that is karma, self-created. Occasionally, in the past 5, 6 years, we had discussion about such things, and when I pointed out that there is a logical trend leading to outcomes comparable to the ones we see today - I was laughed and mocked about. I hear no laughter anymore these days.
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Sorry Skybird, everyone had foresight into this problem. Many chose to ignore the issues including the greed driven banks and that part of society stuck in it. Many did not and it is these folks who used their heads that are taking it in the shorts.
Of course it is a no win situation. The banks have the government over a barrel AND THEY KNOW IT. Why do you think the banks ran to mommy on Capitol Hill to fix their big boo boo. Sick really. Not to mention this sets precidence down the road with other companies who make big boo boos.
