Helen & Harry Highwater's cranky weblog of news and opinion.
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"News that's not known, or not known enough." Helen & Harry Highwater's cranky weblog of news and opinion. |
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Nationalize the banks by Herb Ruhs, MD If the banks are as bad off as we're told, why not just take them over and sort out the problems and send the corrupt and/or incompetent owners and managers away? That would inspire more confidence than just shoveling money into moribund banks like pounding sand into rat holes. Many large systems have been taken over by court-appointed managements. Oakland school district. The blood banking of the Red Cross. Bankruptcy courts often keep enterprises going in
I probably have more sympathy for the various victims of this crime wave than most, but, come on folks, borrow on the inflated value of your house in what is routinely described as a housing bubble? It is like denying a belief in gravity because you can fly in an airplane. Prices, like objects, all come down eventually. This was just gambling. A lot of it was driven by making hostages of kids too. Many families with kids cannot rent in good school districts. Regardless of the reason, the financial system did not work the way we have a right to expect it to, and therefore a major overhaul is indicated with entirely new management. That's what they would do in a heartbeat if it was a professional sport team. What's happening instead is as if a team lost every game and the answer was thought to be to increase all the players' and coaches' salaries for next season. Herb Ruhs, MD PERMANENT LINK  | Recent entries | Earlier entries | Latest entry | |
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