OMG I'm ready to throw up

Morons morons morons. Can they not see HE WAS RESPONSIBLE FOR CAUSING THIS MESS?

I have a fleeting thought to buy that house from that guy just so I can burn it to the ground...

Then again, if it wasn't for him, my trades wouldn't have been the same. So in a way, I should thank him for causing world wide economic chaos.

Bernanke

Morons morons morons. Can they not see HE WAS RESPONSIBLE FOR CAUSING THIS MESS?

I have a fleeting thought to buy that house from that guy just so I can burn it to the ground...

Then again, if it wasn't for him, my trades wouldn't have been the same. So in a way, I should thank him for causing world wide economic chaos.

Bernanke

What a joke! All the Feds are being rewarded for incompetence. Period.

Why dont they just get on with it and issue plastic money, with a chip code, and say ok, you all have 1million each for starters.

Morons morons morons. Can they not see HE WAS RESPONSIBLE FOR CAUSING THIS MESS?

I have a fleeting thought to buy that house from that guy just so I can burn it to the ground...

Then again, if it wasn't for him, my trades wouldn't have been the same. So in a way, I should thank him for causing world wide economic chaos.

Bernanke

Here is the order of blames for the crisis:

1. Greenspan
1.1 Created the bubble
1.2 Failed to regulate the banks
2. Benancke
2.1 Failed to regulate the banks
2.2 Increased interest rate too high to burst the housing bubble to show the woman from CNBC that he was a tough man fighting inflation.
2.3 Failed to act after actions are called for. Even cramer saw it before him.
3. Paulson
3.1 Failed to act when needed.
3.2 Seized FRE/FNM and let LEH fail to start the meltdown.

It is faith in experts. We all know how hard it is to predict with precision what one stock will do. Then we all know how hard it is to predict the direction of the entire stock market. Would any sane person really believe that there is much accuracy in predicting the direction of the entire economy? There are always experts who are anxious to stand out front and lead. Their power comes from the propesnsity of people to place faith in them.

It is faith in experts.
We all know how hard it is to predict with precision what one stock will do.
Then we all know how hard it is to predict the direction of the entire stock market.
Would any sane person really believe that there is much accuracy in predicting the direction of the entire economy?
There are always experts who are anxious to stand out front and lead.
Their power comes from the propesnsity of people to place faith in them.

James, your comments remind me of Nassim Nicholas Taleb's (Black Swan) view that the more complex systems become, the less predictable they become.

Small, local government has it's hands full and stinks enough.
(Think of your local homeowners association. LOL)
"Central Planning" by experts only works on paper, and the messes it causes are colossal.

But strangely, the experts who created the mess are entrusted with cleaning it up.
Logic is thrown out as panic sets in and the people say: "Do something."
And the experts do...something.

None of you mention where it all started...

Formerly to get a home mortgage...
1. 20% down.
2. If you didn't have the 20% down, you had a smaller down but had to pay for PMI in case of default
3. Verified income which did not exceed a percentage of your income... I believe it was 27%

After the U.S. instituted Affirmative Action Lending in 1999, mandating that minorities who could not qualify for a loan be given a loan anyway with relaxed financial standards.... followed by various presumptions and greedy practices by many... ALL HELL BROKE LOOSE.

Lots of people played a huge role... none bigger than Alan GreenScam.

One thing about cramer, he called it right on Bernanke. "the feds are asleep!" rememebr that clip/flip out on TV?

This is getting far afield and leaning political. Let's close this down. Mark