posted on Sep, 17 2008 @ 02:37 PM
I cant imagine how bad it would have been if the Fed hadn't bailed them out.
I think it is a case of getting burned a lot or a little. If we are to believe that the real control of finance lay in the hands of a private cabal,
then in essence, the FED is really the only institution that is currently creditable, hence the $85 billion loan (plus interest) by the cabal to the
FED on behalf of the nation.
I think we will see a few more hammerings to the markets, but then a stabilising, and then the beginning of a new era of lending, as banks seek to
recuperate what they lost. The main thing to consider is what has been gained from this...a greater and more focussed centralisation of the nation's
lending. If anything is to be learned for the ordinary man and woman, it has to be to live and borrow well within one's means. Do not over-reach
through extravagant dreams...make what money you earn and have work for you, rather than you work for the money due to the debt one has accrued.