[Rhodes22-list] Economics - or the lack thereof

[Robert Skinner]

Hank wrote:
> How is this an issue of either political party?  It seems to me that this is
> just a consequence of the free enterprise market.  Banks wanting to get more
> business came up with innovative ways to provide home financing.  They were
> taking a gamble that interest rates would stay low and folks could continue
> to pay.  In some cases, it was a pretty dumb business decision on both the
> bank's and the home buyer's part.  Now  they both will have to pay the
> consequences.

Hank, I wish you were right -- that they 
would have to pay the consequences.

However, I suspect that those of us who 
are not overextended will be taxed (by 
inflation) to bail out the banks that 
can't collect.

Seems that economic conservation is 
likely to be counterproductive.  But I
still can't bring myself to spend what
I don't have.
-- 
Robert Skinner  "Squirrel Haven" 
Gorham, Maine         04038-1331
s/v "Little Dipper" & "Edith P."