OK, let us get technical. What you mean is that there was wrong assumption that by combining many bad loans into single package you get one big that is OK. That was stupid, I agree, but was not this stupidness fueled by the greed of those having money in banks to have higher interests and those wanting to get cheap loans?
No, I am talking about all the other failed investments that these bankers made, or do you think that the whole loan debacle was the only mistake that they made?
Are you aware that bailoout does not mean "pay bankers" and those money are being paid back?
I am aware, but the money went to the banks and those that own the banks. Of course you are free to purposely misinterpret and misrepresent everything I say. That his how the public is generally manipulated by the mass media. Of course it was my fault. I did not know that I was talking for a reporter working for Rupert Murdoch
And are you aware that without bailout, everybody would have lost everything?
Oh you mean unlike all of those that lost their homes to the very banks that screwed up the loans?
They should have given the money to those that needed it. Those that had a momentary shortage of funds due to the momentarily exploding mortage rates due to the idiotic deals that the banks had made. That way they could have paid the banks that would not have needed the bail out and people would have kept their homes on top of that. Of course that is not what happened. The banks got the money and people lost the homes and only ones profiting were the banks.
Popular oversimplification. Happens a lot to angry voters.
Ah, so you are denying that they paid themselves bonusesm and took nice vacations in spas and on top of that were flying expensive private jets to the negotiations in Washington? I would have seized the planes on arrival as pawn for the bailout. But of course politicians would not do that, because they are owned by the banks.
And we have not yet even started to speak about what is the real cause of all this trouble (which IMO is long term trade imbalance between USA and China).
Part of the problem, yes. I totally agree with that.
Being angry is not the same thing as being right.
Well, we will see who ends up being right.
