“Buying a home right now, it’s like trying to catch a falling knife.”
“These mortgage-backed securities are radioactive.”
“These loans are toxic.”
“It’s like a plane crash. [The Fed] is trying to stop the free-fall, and slow the crash landing.”
“When a plane crashes, don’t they investigate to see if was pilot error? Where’s the investigation into this mess?” [Ed. Note: The FBI is now investigating 26 banks. Finally.]
Analogies oversimplify and belittle the danger to the public.
Can Paulson, Bernanke, all the banking committee Senators, SEC chairman Cox … can they all just admit they failed us and resign with dignity? Please?
I personally don’t blame King Paulson or Bernanke, per se … but Paulson’s used to be the head at Goldman Sach’s, and the appearance of impropriety is way too strong here for me to stomach. Bernanke has been weak under pressure from Wall Street, and should have held the Feds Funds Rate over 4% from last year, in order to call the traders bluff last year, instead of letting the CRISIS build to now.
Any politician that took millions in contributions from Fannie, Freddie, and banks that have ceased to exist should also resign for the good of the public.
Say no to the $700 billion bailout. Call the bluff of the traders.
MEANWHILE … the Pirates of Aden continue to hold Filipino hostages against their will in Somalia….