Did you buy a house you couldn't afford in the last five years? Did you believe that 0% down and zero principal ARM loans would be a good idea? Probably not. But apparently a lot of people did. And now you and I have to pay off on those loans.
But wait, it's okay because the government will bail out Fannie Mae and Freddie Mac and lend billions to AIG. But wait again, that's your money and mine.
And yet nobody was there for Lehman, and the private sector (Bank of America) absorbed Merrill Lynch. (How bullish do they feel now?) So, who decided which would get a bail-out and who would go down the drain ... and by what criteria?
As our 401K funds dribble down that same drain, a lot of people ask: Where does that money go?
Well, Wall Street is driven by two things, greed and fear. The greedy who are fearless seem to be walking away with all of our money.
Is it time for legislative intervention? Or is the capitalist model just fine the way it is?