[TigerLikesRooster]

Ping!

[happygrl]

This is like when Robert Shaw says to Richard Dreyfus in Jaws "We're going to need a bigger boat."

[verklaring]

The securitised market for credit cards is about as large as that for subprime mortgages.

That is debt, not the form of it, is the problem. The bailout is a farce. We now get to pay everyone's bills, after actually paying our own.

Live in debt up to your eyes balls, and you get a bailout. Live responsibly and you get screwed.

Marxism makes this simpler, since it packages this as if it was those who were without debt who are at fault, because they did not buy the car they could not afford or the TV, Computer, _______, _______, etc. & etc. ....

Bookkeeping is basic 5th grade math. I realize this does not matter, sorry, but one gets weary of subsidizing stupidity while trying to make ends meet, responsibly.

[B4Ranch]

For reference use.

The Working Group on Financial Markets (also, President’s Working Group on Financial Markets, the Working Group, and colloquially the Plunge Protection Team) was created by Executive Order 12631,[1] signed on March 18, 1988 by United States President Ronald Reagan.

The Group was established explicitly in response to events in the financial markets surrounding October 19, 1987 (”Black Monday”) to give recommendations for legislative and private sector solutions for “enhancing the integrity, efficiency, orderliness, and competitiveness of [United States] financial markets and maintaining investor confidence”.[1]