Quote:
Originally Posted by pocketkangaroo
The problem is that the wealth you are talking about never really existed. It was a phantom economy. Packaging up a $20 bill and selling it over and over for profits. Nothing tangible was created, nothing of value.
So yes, people are getting destroyed right now. But these people also chose to invest their money into companies and products that were built on nothing. Companies that tried to make money on leveraging money they didn't have. It truly sucks for people, but hopefully it's a lesson in the future for people to research what they are doing with their money. These people lost money because they chose to blindly accept their big annual returns the last 10 years without taking a minute to think how they were doing it.
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Yes many stupid decisions by many people on all levels from top of the government down to the average home buyer BUT those decisions and their outcome have screwed the entire world and Obama just put salt on an open wound by pushing a bill through congress that does nothing to help the problems, let me repeat this bill does NOTHING to help unfreeze the credit markets, or deleverage the massive debt out there. half the bill shifts the debt to the taxpayers and the other half of the bill is meant to make the Democratic party look like they are helping people so they stay in power.