11 replies to this topic

[OEXCHAOS]

Adam Smith's been tied up in Congress's back room since FDR. If things get ugly and uneconomic on those CDO's, it'll cost the tax payer a lot more. Remember, all those deposits at those banks are guaranteed by thee and me. I'm a big free marketeer, but when they can steal your money to make up for their own mistakes, I feel that using a bit of government power to maintain stability and minimize the damage that we're on the hook for is reasonable. M

[jack]

Remember, all those deposits at those banks are guaranteed by thee and me.

M

I do not believe we will be honoring those guarantees in anyway that depositors
will find remotely fair. Deposit insurance was not designed for systemic failure.