Quote:
Originally Posted by wig
Here again, I'm curious... when you say this are you simply talking Chrysler / GM or are you talking literally "any" of the bailouts.
I can agree that letting GM / Chrysler fail would have hurt but not been the death knell. But if you mean the whole thing, I'm curious how you would have envisioned it playing out.
Marketsmart is so far avoiding answering the question, resting instead on the vague and simple statement of "i dont fully believe the story that was sold to the people".
I'm not sure what that means or what can be gleaned from that. You want to add something?
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i dont believe the credit markets would have collapsed and i dont care what anyone in banking or govt has to say otherwise. we will never know because it didnt happen..
what i do think is that this made up collapse was a way for the banks to shift all of their toxic debts off the books and get the govt to clean up their mess..
banking executives made billions off of the derivitive market basically committing fraud by selling assets as A rated when they were in fact D- at best..
banking C's ceo' cfo etc.. should have been sent to prison..
but instead the govt cleaned up the mess with taxpayer money..
on top of that, the fed continues to give banks money at 0%..
that is utter bullshit..
i can go on and on.. but this is why i would have let the banks fail because in reality i dont think anything would have happened.. this was a controlled demolition of taxpayer money..
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