AIG charity billion dollar bail out, Loman Brothers file chapter 11, countless other firms shutting down...
now what in the world could have caused such a discrepancy in the financial market?
STUPIDITY, GREED, THOUGHTLESSNESS the list could go on.
This financial crisis is being dubbed 'the worst crisis since 19030's, with no end in sight' (wallstreet journal)
it is disgusting that American Citizens had to save these insurance companies. many economic analyst say that unfortunately it was inevitable and necessary at this point to bail them out.
But lets find the ROOT cause of this problem.
13 months ago all these people started losing their homes because they couldnt pay the mortgage. WHY? because IDIOT mortgage companies gave people loans who could not afford it!!
Land Speculation that resulted from all this did not make matters better.
when you disect the situation, what does it come down to?
Land Speculation, Land Values, and the need for change in the way we handle these situations.
These companies should be held responisible!
Personaly, I think they are getting what they deserve. It just stinks that, that the american people have to suffer allong.
your thoughts?
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