Tuesday, February 10, 2009

Nadir or Abyss?

I thought we were entering into the nadir of the financial crisis, but reading Geithner's proposal makes me think we're still on the edge of an abyss. Great.
Posted by The Millionth Monkey at 2:45 PM

2 comments:

  1. UnknownFebruary 10, 2009 at 11:45 PM

    The problem is still this whole "Bailout" mentality. You've got a room full of greedy problem gamblers, all scratching each other's backs. Do you give them more money and tell them "be careful this time, we're watching you"? Or do you leave them to choose between playing smart with their last dollar, or going home broke. I can tell you from 10 years at one of the biggest subprime players: if you give them money, they'll continue with business as usual.

    I think any plans involving "Bailout" have a lot more to do with the people who pull the strings trying to salvage what they can out of their bad investments than they do with protecting the economy or the American taxpayer.

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  2. The Millionth MonkeyFebruary 23, 2009 at 9:41 AM

    I couldn't agree more.

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