Posted on 03/19/2008 5:36:52 AM PDT by wyowolf
It's now said that we're in the worst financial crisis since the Great Depression, but that judgment seems premature. In the 1980s, most of the savings and loan industry, then the largest source of home mortgage loans, was wiped out. At decade's end, commercial banks faced huge losses on loans to developing countries and for commercial real estate and energy projects. From 1988 to 1992, 905 banks failed, the most since the 1930s. The 1997-98 Asian crisis involved more bad lending — mainly by U.S., Japanese and European banks — that sent Thailand, South Korea and other nations careening from boom to bust. What distinguishes this crisis is that it involves the entire financial system, not just depository institutions. Previous financial crises so weakened the banks and S&Ls that they lost their primacy. As recently as 1980, they supplied almost half of all lending — to companies, consumers and homebuyers. Now their share is less than 30%.
(Excerpt) Read more at ibdeditorials.com ...
Yeah specifically the Mexican border.. Credit Card Companys bleeding America like a famished Vampire.. Bear Stearns, BOA and others.. teetering.. Oh! and THREE Marxists fixing to become President of the United States..
Must be America is drugged out our minds.. High as kites.. Drugged by all the drugs freely comeing accross the border.. and God knows what else.. America is surely doped up.. Look at the three dopes running for President.. That should be laughed off the stage.. maybe America IS LAUGHING being all doped up..
thats not true McCain is a solid conservative... he said so just the other day...
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