Thursday, September 25, 2008

The panic of '08

In Feb. 2005 Greenspan did speak out against the lack of regulation at Fannie Mae and Freddie Mac, so he knew this corruption would eventually boil over. But if he dialed back the corruption there by raising interest rates he'd be remembered as the guy who kept poor people oppressed and not as the hero who averted the panic of '08. Nobody remembers the panic/recession that never happens.

Save your pennies, if the Paulson plan doesn't pass cash will be king. If it does pass throw your pennies away, inflation will make them worthless...

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