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To: JasonC
The real scandal my friends is that everyone is spinning blame and no one gives a tuppenny damn about actually fixing the bleeding problem! Guess what? You can blame whoever the heck you like from a soup line. Good luck with that!

It's usually a good idea to figure out what caused the "bleeding problem" before deciding how to fix the "bleeding problem". Flailing your arms about no one doing anything to "fix" the problem is of little value. IMHO, of course.

18 posted on 09/15/2008 9:10:35 PM PDT by Prokopton
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To: Prokopton
We know what the bleeding problem is. There is a $500 billion unallocated financial loss on US residential real estate careening around the financial system, and everyone is playing hot potato trying to drop it steaming in someone else's lap. Which might be amusing, except that it has already done 5 times that much damage, and it is looking to go nuclear and raise that by another factor of 10 by the end of the month.

Allocate the loss. Ignore the question of blame. Ignore who gets hurt. Just take the hit and put it behind all concerned. Burn down whatever is insolvant and remove anyone running any institution that is, fine no problem, nobody cares. But focus entirely on limited the size of the overall hit, by getting it over with, and stop playing spin games to try to get someone else to take it for you. No one walks away from the hit this size untouched. It is metaphyically impossible, and blame has nothing to do with that fact. It is a mere law of economics. You might as sensibly try arguing with gravity after walking off a cliff, claiming you don't deserve to fall.

26 posted on 09/15/2008 9:19:39 PM PDT by JasonC
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