dont panic, page-34

Volt i agree regarding the ignorance of the general public, whom would rather watch Jerry Springer than pursue any other useful endeavor. I was in the USA 8 weeks ago; my god, the ruling class have done a brilliant job keeping the average person as dumb as possible. Guess their happy working for $8/hr that way and you prevent uprisings. I wasn't in the South this time either. I digress.

A financial reporter has been questioning US Senators, and none of them had a glue what LIBOR was. These turkeys are orchestrating a bailout of financial markets and yet they dont have a clue. Just like Paulson and Bernanke who said under oath for the last 2 years "Congressman theres no bubble in the housing markets and our finical system is sound." What the.... Anyway heres the reporters summation;

Americans' lack of financial sophistication is a cause, not just a symptom, of the credit crunch, said James Bowers, managing director of the Center for Economic and Entrepreneurial Literacy, a nonprofit group in Washington. It may be a reason people are willing to take out loans for homes they can't afford or add to credit card debt at adjustable rates.

``When we go to a mechanic, we trust them to fix our problems,'' he said. ``But right now, the mechanics on Wall Street can't get their own cars to start.''