Does Anyone feel like Bailing

BigV · 10-03-2008, 01:28 PM

short answer:

No.

In my opinion, this is the wrong approach. Bailing is an appropriate illustration. And a certain amount of bailing is needed if you're in a leaky boat. But to make the boat seaworthy, you need to patch the leaks, not just bail. And I believe the leaks in this case are (largely) the defaulting mortgage holders. Those are the leaks that need to be PLUGGED.

Where in this whole spasm of FUD is an acknowledgment of the source of the crisis, and where is there an effort to address (one of the major) the root cause--mortgage defaults.

I'll hold forth in a later post on this BIG issue for me. Right now I have to type elsewhere.

10-03-2008, 01:28 PM	#11
BigV Goon Squad Leader Join Date: Nov 2004 Location: Seattle Posts: 27,063	short answer: No. In my opinion, this is the wrong approach. Bailing is an appropriate illustration. And a certain amount of bailing is needed if you're in a leaky boat. But to make the boat seaworthy, you need to patch the leaks, not just bail. And I believe the leaks in this case are (largely) the defaulting mortgage holders. Those are the leaks that need to be PLUGGED. Where in this whole spasm of FUD is an acknowledgment of the source of the crisis, and where is there an effort to address (one of the major) the root cause--mortgage defaults. I'll hold forth in a later post on this BIG issue for me. Right now I have to type elsewhere. __________________ Be Just and Fear Not.

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