Quote:
Originally Posted by ADL Colin
They have. To the tune of $232 Billion in subprime losses SO FAR.
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Have they?
I thought the government bailed them out...
http://www.afterdowningstreet.org/node/31800
Quote:
Originally Posted by ADL Colin
The CEO's of CityBank, Merrill Lynch, H&R Block and Germany's Landesbank Sachsen have resigned. The co-President of Morgan Stanley resigned. I'm sure there are more. Banks, investment firms and mortgage companies are taking severe losses.
The banks, their officers and their shareholders are getting their asses handed to them.
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And so they should. Whoever said above people shouldn't borrow beyond their means, would you lend a bum on the street 1000$ if he promised to pay you back? (or someone that makes 30k$ a year 330k$?). It's just bad business and the whole world is paying for that now