Friday, February 06, 2009

Do You Remember the Sub-Prime Mortgage Crisis?

I don't know nothin' bout nothin' at all.
Still, I thought our current economic crisis was brought about because so much money was loaned to so many people that had no chance of ever paying it back, and that this easy access to credit drove house prices up until the people that never could pay the money back, never did. I guess I don't understand how piling a trillion dollars (that's a 1, with a lot of zeroes after it)* more debt onto this (foreclosed) house of cards will make things better.

*A little research reveals that in America a trillion has twelve zeroes, but in hide-bound England which is much more leery about letting the noveau riche into society, a trillion has eighteen zeroes. Keep dreaming, Bill Gates

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