Was the recent banking crisis just a rehearsal?
 

The recent banking crisis was sparked off by the Prime Mortgage crash. Brough on by investors, banks buying debt or lending to people who they shouldn't of lent to.

Watching the news today it seems Prime Mortgage weren't the only bad investment they made.

It now seems they were investing in countries they shouldn't of invested in.

http://upload.wikimedia.org/wikipedi...ted_States.gif

This may look confusing at first, but take a minute to look at it. It soon becomes clear. Doesn't include Italy, which is the biggest problem.

http://sg.wsj.net/public/resources/i...0216182418.gif

Again we see the problem repeated. Investors buying into things that were best left alone. It's not just the Presidents fault for raising debt ceilings or Governments spending money they didn't have to make their economies look good.

The blame must also go to those lending the money.

Look at what brought about the 1930 depression to see the folly of buying pieces of paper over priced to an extent that buying them was foolish. People thought if they bought a piece of paper today, it would be worth 150% soon. Then got the shock of their lives when it was worth 50% even sooner.

And we give these brilliant investors billions in bonuses and treat them like they're so clever. Who here would invest money in Greece, Italy, etc?

Food for thought if you have investments of pensions.

Paul r u naked now?

Not yet, if you're coming over will get naked though. :1orglaugh

:1orglaugh:1orglaugh:1orglaugh:1orglaugh

It would be nice to see "what's behind the curtain" in a double dip recession.

Perhaps the bullshit willing finally pile up high enough, and last long enough, to motivate the lazy to demand reforms from Congress of wall street, banking institutions, and the financial sector. Unfortunately, it appears whether Americans or human nature, nothing gets done until it becomes a 'crisis' and is painful enough to effect people negatively long enough to force reforms. While absolutely ridiculous, it appears to be human nature.

I am, wanna skype?