panic time, page-20

PUMPKINHEAD

"Why approach this in such moralistic terms. Couldn't it be that these things are simply cyclical?"

I think not.

IMO the moral aspect of the current situation is very relevant as to how we got into this mess in the first place.

I don't necessarily blame those who sold these loans but their managers. I hold the management accountable. Short term gain, long term pain I think was the order of the day.

I know that may sound a little simplistic, but frankly I would be sitting here writing for a good many hours to go through all of the factors in relation to the above.

As for Cyclical.......unless you believe in a 70 year cycle, I think this is far from cyclical.

Sure we have as an unfortunate part of our capitalistic system a boom and bust economy, but this is far from what could be described as a "normal" circular event.

This is much much more serious imo.

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THE ABOVE IS NOT FINANCIAL ADVICE AND NOT DESIGNED TO
BAIT, TROLL, FLAME, CREATE AN ARGUMENT OR OTHERWISE
CAUSE OFFENCE TO ANY PERSON WHO SO-EVER IS ENTITLED TO DISAGREE WITH MY OPINION AS STATED IN THE ABOVE TEXT