Economic darwinism - only the most credit worthy individuals and institutions will survive. Bad businesses and people who can't control their spending will fall by the wayside.
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Anonymous2008-10-06 22:29
It's the systems way of purging the garbage from itself. It has to happen.
>>1
So, what you're saying is that you've paid ZERO ATTENTION to all the government bailouts of these un-credit-worthy institutions so far? I think so.
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Anonymous2008-10-07 10:10
>>4
They're good for the money, man. It was the stupid monkeys who decided to buy too much house that fucked everything up. If they had been more realistic in their path to home ownership we'd all be fine right now.
>>5
You just contradicted yourself. The people who bought "too much house" were by definition unable to come up with the funds for such things. Hence, lenders inescapably enter the picture. So where's the blame for the lender? And the appraiser along with it?
Redistribution of wealth is a good thing, dispersing high concentrations of capital into low density businesses in an economic osmosis, trickling down to the low and mid end sectors that provide services beneficial to the local populace. In a housing collapse, the wealth goes from real estate speculators to construction companies. In a tech bust, the wealth goes from VCs to office space and services. Economic downturns support the middle men who make society possible.
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Anonymous2008-10-07 17:10
>>8
What does redistributing wealth have to do with this? If these small businesses can make a profit in the market why do they need tax dollars?
Shitty businesses should die, whether they are owned by evil capitalists with cigars and monocoles in top hats or poor single black moms with physical disabilities from the ghetto with several kids from several deadbeat fathers.