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Old 07-25-2008, 08:27 PM   #21
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good for whom?
Audrey is not missing the point at all.

CDOs, etc. were touted as saviors, and reducers of risk. They were saviors only to a select group that needed to expand debt to infinity.. without capital requirements, oversight or regulation, at the cost of the entire financial system.

No one today can make ANY informed choices no matter how smart they are; brewer said as much elsewhere. No one knows what anything is worth. That has been the "beauty" of it (and may well be the entire system's downfall).

He envisions me in a tinfoil hat and strait-jacket, but I kind of envision brewer in one of those Cold-War-era educational posters (of which I have one) that promote the wonderful benefits and complete safety of atomic radiation.
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Old 07-25-2008, 08:40 PM   #22
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"The man in the forest said to me,
'How many strawberries grow in the sea?'
I answered him as I thought good,
'As many herrings as swim in the wood.'"
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- George Orwell

Ezekiel 23:20
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Old 07-25-2008, 08:53 PM   #23
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noodles and a mat
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Old 07-25-2008, 08:59 PM   #24
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I locked this thread because it seems to be going downhill and productive discussion seems at a halt.
Happily retired since 2009, at age 61.
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