Early Retirement & Financial Independence Community - View Single Post - Do you want to pay for the Sub-Prime freeze?

**ziggy29** · 11-30-2007, 01:04 PM

The real problem here is lack of oversight and sufficient regulation BEFORE this mess started.

The Fed and the government are between a rock and a hard place here. If you let the irresponsible lenders and borrowers off the hook and bail out Wall Street, you not only reward unacceptable risk-taking with a taxpayer bailout, but also stoke inflation AND continue to let the dollar go down the toilet.

If you stand firm and tell them to lie in the bed they made, you likely trigger a horrible recession which will take the jobs (and retirement income) of millions of innocent people down with them.

Both options suck. The real problem was lack of oversight and regulation BEFORE all these stupid, risky loans were made.

11-30-2007, 01:04 PM	#2
ziggy29 Moderator Join Date: Oct 2005 Location: Texas Hill Country Posts: 7,253	The real problem here is lack of oversight and sufficient regulation BEFORE this mess started. The Fed and the government are between a rock and a hard place here. If you let the irresponsible lenders and borrowers off the hook and bail out Wall Street, you not only reward unacceptable risk-taking with a taxpayer bailout, but also stoke inflation AND continue to let the dollar go down the toilet. If you stand firm and tell them to lie in the bed they made, you likely trigger a horrible recession which will take the jobs (and retirement income) of millions of innocent people down with them. Both options suck. The real problem was lack of oversight and regulation BEFORE all these stupid, risky loans were made. __________________ "Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)