The dollar is going down. When will it reach zero value? Greenspan was more or less mad, to lower the interest rate to 1 %. Of course, everybody would want to borrow, when the cost to borrow was less than the inflation. Then the banks wanted to make more money, so they gave loans with slightly higher interest rate to everybody, in order to get a higher return on their money. The problem was that the money they thought they made, was never made. Now, 2 years later, surprise-surprise, it is discovered that those people were never able to pay back their loans.
Somebody should be held responsible for this mess. Put them in prison. They made such a damage to the economy that they should suffer in h*ll for ever!
Thursday, November 8, 2007
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