>Not if 'us' encompasses the many hard working debt avoiding people who >will also suffer by having their wages garnished via taxes to pay the >ransom corporations are holding the U.S taxpayer to.
As I said before, I commend people who have avoided that temptation. But I think its fair to say they are a minority in the US. Credit card dept is rampant, and during the era of easy credit they were available to almost anyone, including a lot of us hardworking folks. Some econonimst are now saying that widespread credit card default -- the credit has alo be securitized in ways similar to how mortgage debt was -- may be the next big bubble burst. It's a much small market than the mortgage market in terms of dollars involved, but it could still be a huge mess. Olin ----- Original Message ----- From: Euan Ritchie<mailto:[EMAIL PROTECTED]> To: Killer Bs (David Brin et al) Discussion<mailto:[email protected]> Sent: Sunday, November 16, 2008 8:55 PM Subject: Re: Taking responsibility (was Re: How Government Stoked the Mania) >Ted Turner was asked recently on a CNN interview who was responsible for the financial crisis >and he said "All of us. We've been spending more than we make for a long time ... >Basically, he's right. Not if 'us' encompasses the many hard working debt avoiding people who will also suffer by having their wages garnished via taxes to pay the ransom corporations are holding the U.S taxpayer to. _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l<http://www.mccmedia.com/mailman/listinfo/brin-l> _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
