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March 4, 2009 at 5:21 PM in reply to: Great Article in Vanity Fair by Michael Lewis on Iceland’s amazing bubble #360538March 4, 2009 at 5:21 PM in reply to: Great Article in Vanity Fair by Michael Lewis on Iceland’s amazing bubble #360681
patientrenter
ParticipantCONCHO, I don’t know much about Milton Friedman’s work (apart from third-hand unrepresentative excerpts used by people with a political ax to grind on the left or right). Did he teach that unlimited expansion of the money supply (credit) was a good thing? Or that it was good to suppress interest rates as low as possible to encourage people to borrow liberally? If so, Barney Frank must be a Milton Friedman disciple. That’s not what I thought, but I don’t know as much as you.
March 4, 2009 at 5:21 PM in reply to: Great Article in Vanity Fair by Michael Lewis on Iceland’s amazing bubble #360719ParticipantCONCHO, I don’t know much about Milton Friedman’s work (apart from third-hand unrepresentative excerpts used by people with a political ax to grind on the left or right). Did he teach that unlimited expansion of the money supply (credit) was a good thing? Or that it was good to suppress interest rates as low as possible to encourage people to borrow liberally? If so, Barney Frank must be a Milton Friedman disciple. That’s not what I thought, but I don’t know as much as you.
March 4, 2009 at 5:21 PM in reply to: Great Article in Vanity Fair by Michael Lewis on Iceland’s amazing bubble #360829ParticipantCONCHO, I don’t know much about Milton Friedman’s work (apart from third-hand unrepresentative excerpts used by people with a political ax to grind on the left or right). Did he teach that unlimited expansion of the money supply (credit) was a good thing? Or that it was good to suppress interest rates as low as possible to encourage people to borrow liberally? If so, Barney Frank must be a Milton Friedman disciple. That’s not what I thought, but I don’t know as much as you.
Participant[quote=SD Realtor]There is only one comment I have…
That’s NOT all folks. [/quote]
SD R is so correct. If this little plan doesn’t royally f*ck you (assuming you are a responsible saver), then the next one will, and if that next one doesn’t, then the next one will…
Time to look at all the alternative places to live and put money.
Participant[quote=SD Realtor]There is only one comment I have…
That’s NOT all folks. [/quote]
SD R is so correct. If this little plan doesn’t royally f*ck you (assuming you are a responsible saver), then the next one will, and if that next one doesn’t, then the next one will…
Time to look at all the alternative places to live and put money.
Participant[quote=SD Realtor]There is only one comment I have…
That’s NOT all folks. [/quote]
SD R is so correct. If this little plan doesn’t royally f*ck you (assuming you are a responsible saver), then the next one will, and if that next one doesn’t, then the next one will…
Time to look at all the alternative places to live and put money.
Participant[quote=SD Realtor]There is only one comment I have…
That’s NOT all folks. [/quote]
SD R is so correct. If this little plan doesn’t royally f*ck you (assuming you are a responsible saver), then the next one will, and if that next one doesn’t, then the next one will…
Time to look at all the alternative places to live and put money.
Participant[quote=SD Realtor]There is only one comment I have…
That’s NOT all folks. [/quote]
SD R is so correct. If this little plan doesn’t royally f*ck you (assuming you are a responsible saver), then the next one will, and if that next one doesn’t, then the next one will…
Time to look at all the alternative places to live and put money.
Participantas, go with flu… he knows his cars
Participantas, go with flu… he knows his cars
Participantas, go with flu… he knows his cars
Participantas, go with flu… he knows his cars
Participantas, go with flu… he knows his cars
Participant[quote=Enorah]It is a curious question
Why throw money at ghosts?
I guess we will soon find the answer out.[/quote]
Enorah, AIG took hundreds of billions of dollars from people in return for a promise to pay them something back (like the retirement income from an annuity, or the death benefit from a life insurance policy, or compensation for losses under a home insurance contract, or..). And, yes, some of the contracts AIG made were credit default swaps with hedge funds and other banks etc.
If they fail to make those payments, regular customers will be very angry – and they vote – and more hedge funds and banks and other institutions will lose another fig leaf covering their bankuptcy.
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