crazy. foreclosure *is* the market's solution to a problem (the problem of a delinquent borrower). It's not a further problem in itself, for the bank.
best dd -----Original Message----- From: PEN-L list [mailto:[EMAIL PROTECTED] Behalf Of Doug Henwood Sent: 05 September 2007 23:30 To: [email protected] Subject: Re: ‘Market can solve subprime crisis’ On Sep 5, 2007, at 6:21 PM, Sabri Oncu wrote: > “I believe, and I think the president believes, that markets are > very good at > finding ways to solve problems,” he said. What does this mean? These people use the word "markets" as if they were machines. Some people will get thrown out of their houses, some people will lose their shirts, some people will stretch to make payments, jobs will be lost, some vultures will make a killing. I.e., leave it to relations of money and power. "Markets" sounds so much nicer. Doug=
