MIT Professor and Former IMF Chief Economist

[maybe]

[quote=Daniel]
– people in high positions in the government are not corrupt. But they really believe that a sophisticated financial system is good for the country. It’s been true for so long, after all. The anglo-saxon countries, with deregulated financial systems, did so much better over the past 20 years than the stodgy Continental Europe. [/quote]

“Sophisticated financial system” is at the heart of the issue– isn’t it?

Any mom and pop landlord could tell you that real estate was overpriced back in 2001, 2002. Our “sophisticated financial system” couldn’t figure the same thing out until 2006, 2007…

I agree wholeheartedly that a “sophisticated financial system” is in our country’s best interest. The question is whether the fools that we are spending trillions on right now meet that requirement…

I’d much rather hand, say BB&T, a couple hundred million dollars and tell them to expand their operations than to keep pumping money into Citibank. This is the second time in my lifetime that the gov’t has bailed them out. Enough is enough…

[aldante]

Patient:

Patient……I think that voice of 2 thousand bankers close and cozy to the treasury drowns out the drone of 45 million homeowners trying to make ends meet. Especially when you tell them things are gonna work out. That is the crux of if for me.Btw try and call and talk to Feinstein or Boxer….I have never had one response.

[aldante]

Patient:

Patient……I think that voice of 2 thousand bankers close and cozy to the treasury drowns out the drone of 45 million homeowners trying to make ends meet. Especially when you tell them things are gonna work out. That is the crux of if for me.Btw try and call and talk to Feinstein or Boxer….I have never had one response.

[aldante]

Patient:

Patient……I think that voice of 2 thousand bankers close and cozy to the treasury drowns out the drone of 45 million homeowners trying to make ends meet. Especially when you tell them things are gonna work out. That is the crux of if for me.Btw try and call and talk to Feinstein or Boxer….I have never had one response.

[aldante]

Patient:

Patient……I think that voice of 2 thousand bankers close and cozy to the treasury drowns out the drone of 45 million homeowners trying to make ends meet. Especially when you tell them things are gonna work out. That is the crux of if for me.Btw try and call and talk to Feinstein or Boxer….I have never had one response.

[aldante]

Patient:

Patient……I think that voice of 2 thousand bankers close and cozy to the treasury drowns out the drone of 45 million homeowners trying to make ends meet. Especially when you tell them things are gonna work out. That is the crux of if for me.Btw try and call and talk to Feinstein or Boxer….I have never had one response.

[patientrenter]

[quote=aldante] Patient:

Patient……I think that voice of 2 thousand bankers close and cozy to the treasury drowns out the drone of 45 million homeowners trying to make ends meet. Especially when you tell them things are gonna work out. That is the crux of if for me.Btw try and call and talk to Feinstein or Boxer….I have never had one response.[/quote]

I totally agree that the big boys get the real inside access to lawmakers. But I am saying that they can only go so far without public support. The elephant in the room in this whole housing/stock price bubble is the large majority of the general public who want those prices to go higher. We can pretend the elephant is not there, but that won’t help us understand what happened and what will happen.

[patientrenter]

[quote=aldante] Patient:

Patient……I think that voice of 2 thousand bankers close and cozy to the treasury drowns out the drone of 45 million homeowners trying to make ends meet. Especially when you tell them things are gonna work out. That is the crux of if for me.Btw try and call and talk to Feinstein or Boxer….I have never had one response.[/quote]

I totally agree that the big boys get the real inside access to lawmakers. But I am saying that they can only go so far without public support. The elephant in the room in this whole housing/stock price bubble is the large majority of the general public who want those prices to go higher. We can pretend the elephant is not there, but that won’t help us understand what happened and what will happen.

[patientrenter]

[quote=aldante] Patient:

Patient……I think that voice of 2 thousand bankers close and cozy to the treasury drowns out the drone of 45 million homeowners trying to make ends meet. Especially when you tell them things are gonna work out. That is the crux of if for me.Btw try and call and talk to Feinstein or Boxer….I have never had one response.[/quote]

I totally agree that the big boys get the real inside access to lawmakers. But I am saying that they can only go so far without public support. The elephant in the room in this whole housing/stock price bubble is the large majority of the general public who want those prices to go higher. We can pretend the elephant is not there, but that won’t help us understand what happened and what will happen.

[patientrenter]

[quote=aldante] Patient:

Patient……I think that voice of 2 thousand bankers close and cozy to the treasury drowns out the drone of 45 million homeowners trying to make ends meet. Especially when you tell them things are gonna work out. That is the crux of if for me.Btw try and call and talk to Feinstein or Boxer….I have never had one response.[/quote]

I totally agree that the big boys get the real inside access to lawmakers. But I am saying that they can only go so far without public support. The elephant in the room in this whole housing/stock price bubble is the large majority of the general public who want those prices to go higher. We can pretend the elephant is not there, but that won’t help us understand what happened and what will happen.

[patientrenter]

[quote=aldante] Patient:

Patient……I think that voice of 2 thousand bankers close and cozy to the treasury drowns out the drone of 45 million homeowners trying to make ends meet. Especially when you tell them things are gonna work out. That is the crux of if for me.Btw try and call and talk to Feinstein or Boxer….I have never had one response.[/quote]

I totally agree that the big boys get the real inside access to lawmakers. But I am saying that they can only go so far without public support. The elephant in the room in this whole housing/stock price bubble is the large majority of the general public who want those prices to go higher. We can pretend the elephant is not there, but that won’t help us understand what happened and what will happen.

[bsrsharma]

Is America the new Russia?

http://www.ft.com/cms/s/0/09f8c996-2930-11de-bc5e-00144feabdc0.html

[bsrsharma]

Is America the new Russia?

http://www.ft.com/cms/s/0/09f8c996-2930-11de-bc5e-00144feabdc0.html

[bsrsharma]

Is America the new Russia?

http://www.ft.com/cms/s/0/09f8c996-2930-11de-bc5e-00144feabdc0.html

[bsrsharma]

Is America the new Russia?

http://www.ft.com/cms/s/0/09f8c996-2930-11de-bc5e-00144feabdc0.html

[Author]

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