donaldduckmoore – you should Google Great Depression and read about how many of those same issues facing that period of time, debt, contraction of money, are facing our economy and the Fed now. If the Fed did nothing and a massive banking failure occurred, resulting in our own Great Depression, would we blame the Fed? I’m not advocating Fed involvement or simply allowing the “free market” to exist as is. I have no debt so personally didn’t contribute to this nightmare, but since this mess was created – and it must be unwound, I’d prefer it happen without bringing the banking system to its knees.
I think its a naive to believe that only the rich bastards will suffer if Bear and the rest of Wall st, mortgage brokers etc eat shit if a bank fails. We too will be eating shit along with them. Shit rolls downhill.
