Belly, "Good onya Col you confirmed a view I held about you, can you not see it was you who questioned others right to an opinion?"

Wrong,

I respect everyones rights to freedoms, including to an opinion.

I suggest you read where I have repeatedly expressed my support for the individuals right to freedom of speech and expression, such as any of the post concerning Bill Henson, my absolute support for the freedom of choice of pregnant women who wish to seek abortion and my support for the processes of free market transactions.

However, expressing support for freedom of opinion does not exclude or limit, in any way, the incredulity (for want of a better word) at how moronic some of those opinions are and

my equal right to conmment, as I do, at the stupidity of same.

"The Innocent victims will be hurt more than the idiots who caused the crash."

That has been the case, even since before the fall of Rome.

Belly,

Col: >>> "The Innocent victims will be hurt more than the idiots who caused the crash."

That has been the case, even since before the fall of Rome.<<<

Col has demonstrated the difference between himself and we human beings, he doesn't care, we do.

I feel that with something like this there is little or no perspective until quite sometime after the event.

Like so many events in history the ‘right thing to do’ will only be put forward with the perspective of time.

Right now many experts and ordinary people are thinking in black and white, either governments bail out the banks. Or they don’t.

What the right decision is, will become clear in the next decade or even longer.

In my opinion the bailing out of these institutions is a mistake.

Adam smiths mantra of the invisible hand is still worthy of consideration.

It seems wall street wants it both ways, it wanted free markets and deregulation to expand. But when it flopped it wanted non free markets and government bail outs.

When things collapsed they came like little children for money to the government.

A true free market would use small measures like interest rates to curb and encourage spending and it would let these companies collapse or thrive by themselves. Bailing them out only causes many more problems later on.

The real issue hers is nobody wants to take any responsibility inside the corporate world and is shouldering it all on governments.

Let these banks collapse… main street is overvalued anyways.

Take a good look at the dow jones over a 30 year period and tell me its levels in the past 5 years where sustainable.

Fractelle “Col has demonstrated the difference between himself and we human beings, he doesn't care, we do.”

Actually you are, as often is the case, wrong.

You are confusing “caring”

with

“sentimentalist sympathy”.

The difference

What I ‘care” about is finding solutions and fixing problems, it is what I do for a living.

From reading the content of much of your posts, what you seem to care about is maximising the emotional credit you can extort from any situation, to satisfy your own insecurities.

That might give you a temporary warm and cosy feeling

but it actually benefits no one

*The real issue hers is nobody wants to take any responsibility inside the corporate world and is shouldering it all on governments.*

Well some corporates are paying a heavy price, by going bankrupt,
investors losing the lot.

What interested me was how this whole thing got going in the first
place. Sure enough, somebody on the Economist website posted an
article from the New York Times, from 1999, where the Clinton
administration were pushing Fanny and Freddie to guarantee housing
loans to borrowers with dubious credit ratings and inadequate
equity. When Bush came to power, he never did a thing about it.

So at the end of the day, it is a political problem and to say that
politicians are blameless and its all that naughty Wall St, is of
course not correct.

At the start of the thread we spoke about bailing out American banks.
Now we are dumbfounded by the extent of the problem.
Col Rouge talks of a spit in the ocean in comparison the Victorian bankruptcy of some years back.
Yabby quite rightly puts some blame on politicians, and so we should.
We endlessly talked in threads from the very first day of this forum of over spending over pricing and borrowing beyond our means.
Like rabbits caught in the spotlight world leaders seem stunned we wait for action to stop the bleeding.
Just maybe in one week from now we may see the losses as bad as they have been from this threads birth.
What then?
We can lay the blame endlessly but governments must legislate to see something very like the Australian system of re paying loans is world wide.
And that greed is controlled.
Some acts that bought us to this state are criminal and we must see convictions surely?
It is not yet over we are far from safe in Australia, do not bank on China.
Has any one considered they may not wish to help?
If China shuts down growth to weather the storm we are going to have hard times.