Mornin' Noel:

Let me try to explain my point. Our liberal congress has decided to redistribute the wealth of our nation from the "haves" to the "have nots." (Despite all the sacrifices of our efforts during and after WWII to promote freedom and equality for all nations.) Those of us who have worked all our lives, scrimped and saved, helped others, have been law abiding citizens... are now supposed to stand idly by as our government begins to tax us more so they can put the lazy, indolent scofflaws back on our level financially. They tax us in many ways. Some are not called taxes yet they are supported from public coffers.

In this same "train of thought"... congress believed it could further this idea by getting all the poor out of public housing and into their own homes. (No matter what the taxpaying public wanted.) We had no say in this scheme. They decided the easy way to promote this flawed idea... was to guarantee every loan made with "streamlined" credit rules... by the FULL FAITH and CREDIT of the FEDERAL GOVERNMENT.

Everyone knows that bankers, for the most part, are not the brightest people on earth. With the opportunity to loan money backed by government guarantees... it seemed plausible to them. After all, they are not the social conscience of the world or our nation. They are in business to lend money.

The bankers did not make this law nor did they promote it. Our greedy, liberal congress made this stupid decision all by themselves... without voter approval... and yes, they lined their pockets with the easy pickings provided with hidden loopholes in this legislation. If you want to point the finger of blame on rich folks, go ahead... but George Soros was probably first in line to receive his unwarranted share along with Barney Frank.

Please don't misinterpret my point. There is nothing wrong with being rich. I would like to join their ranks. It is wrong to have gained that wealth through criminal and fradulent means.

Noel... you are right about the rest of the story. The financial markets all over the world began to scoop up these "derivative" investments backed by the full faith and credit of a now broke U.S. Government... bankrupt financially and morally.

I believe Alex from the Ukraine on this same thread made a statement... when the U.S. gets a headache financially, the rest of the world is deathly ill... or something to that effect.

Mackie:

I know exactly where you are coming from... and I've been there. Well said, my friend.

My best to everyone,

Dave