Bailout Madness!
Saturday, September 27, 2008
How out of control are things getting with the world-wide (read: Wall Street) financial crisis?
I'm acutely aware of the "house of cards built over a pool of gasoline" (to quote from 'Enron: The Smartest Guys in the Room') aspects to the current situation, but am I the only one that is wondering why:
a) people were taking loans on homes, cars, credit cards, etc but had no way - and I mean absolutely no way - to service them?; and
b) why every man and his dog deserves a bailout?
Since I last wrote about how this was effecting the auto industry, checkout the latest twist to the situation: auto loan bailouts.
posted by Lee Gale @ 5:37 PM,
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