Stop Playing Politics With Our Futures - 30/09/2008
What Are Those US Politicians Thinking?
* So why did Congress vote down the bill? What will happen if they don’t pass the bill?
* The free markets will eventually sort this mess out. Financial institutions who made bad loans will fail. Depositors may lose their savings if they happen to bank with an institution that made bad loans, but heck, that’s their problem.
* People who work for financial institutions who made bad loans will lose their jobs, whether they be the people at the top or the ones at the bottom. Their bad luck.
* House prices will continue to tumble. More and more people will lose their houses. They shouldn’t have bought it in the first place. They should have known the economy was heading down the spout. They should have known house prices were over-valued. Silly fools.
* The recession is coming anyway, bill or no bill.
But at least the Wall Street executives will pay the price for their excesses, except many of them are already multi-millionaires, and that money can’t be taken away from them. Still, at least they won’t be able to earn more millions, and their multi-million dollar stock option packages will be worth only a few million now.
Phew. Thanks Congress.
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