> >I see you've bought into the Paulson/Bush plan, hook, line and sinker: > >high prices good, low prices bad. > > Once again you totally misperceive. The large first derivative is the > problem. > > Letting it happen is bad management. Bankers who do not know how > markets work don't deserve huge bonuses, they don't even deserve minimum wage.
You seem to be operating under the impression that banks have this massive fleet of empty homes they're just waiting for the right moment to dump on the market and drive the prices down. Yeah, rapidly depreciating values are great for the banking business. Banks don't control entire markets; they are a piece of it as are the Fed, Fannie/Freddie, real estate agents, home sellers/buyers and security dealers. It's not too mysterious to people who aren't trying to divine the meaning of the mess through their ideological blinders. The system worked fine as long as the prices of homes continued to rise. Any fool who didn't see the end of the bubble coming and act accordingly should reap the rewards of such short sightedness. It was a natural (and expected) correction to an artificially inflated market. Plenty of blame to go around. But, you go right ahead with your banker fetish. ************************************************************************* ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *************************************************************************
