Thursday, March 13, 2008

Double Talk

It is amazing how many times Paulson defies logic in this article.

Yes, its boring economic jargon. But how can more legislation (ever) help anyone?

Basically he says we want to make lending harder, but we also want to keep lenders lending money. "We're gonna put the screws to you, but don't change anything..."

The central bank and its stupidity created this mess by lowering interest rates to the point where poor people thought they could afford a house. Now they want to blame the mess on the lenders.

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