NOW IT HAS BECOME A CASINO WHERE GAMBLERS CAN NOT ONLY KEEP THEIR WINNINGS BUT THEY CAN ALSO HAVE A “RICH?” BENEFACTOR PAYING OFF THEIR GAMBLING DEBTS.
Individuals in lending institutions got rich building houses of cards with mortgages are now holding the US economy hostage as they show up in Washington holding tin cups.
Money and capital markets have a necessary function in an economy but I have always questioned the fact that they have taken on lives of their own.
Maybe government IS the problem. A goverment that allows unrestained mischief and greed and profiteering to take place is problematical.
If the justification for financial types making huge profits is because they take great risks in order for free enterprise to take place, then the risk must be real.
What I am seeing here is a perversion of Capitalism, which is just as unworkable as Communism.
Some part of Wall Street needs to die a natural death. We have forgotten the lessons learned from The Great Depression. Maybe we have learned from the experience from our fathers but not from our grandfathers.
I have some big problems with a Washington bailout of financial institutions and the automobile industry. Bankrupcy is a time tested remedy. Maybe we need to create a chapter 15.