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09-30-2008, 11:25 AM | #1 |
Avalon Senior Member
Join Date: Sep 2008
Posts: 9
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Bankruptcy, not bailout, is the right answer -- the explanation
I think this explains it well:
http://www.cnn.com/2008/POLITICS/09/...out/index.html "Talk of Armageddon, however, is ridiculous scare-mongering. If financial institutions cannot make productive loans, a profit opportunity exists for someone else. This might not happen instantly, but it will happen. Further, the current credit freeze is likely due to Wall Street's hope of a bailout; bankers will not sell their lousy assets for 20 cents on the dollar if the government might pay 30, 50, or 80 cents." |
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