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[william Eggers <wce1482 AT yahoo.com>]

Actually, I don't think it will make any difference whether the banks are 
bailed out or not.  Some big shots will get away with some money, but the 
real problem in not what we have now, but what happens when the credit card 
industry takes its hit.  Credit cards are not secured loans.  That is the 
card company has nothing that it can forclose on.  so, when people start to 
default on the credit card debt, the banks will be left holding the bag,  and 
the credit card debt makes the mortgage problem look small.

--- On Wed, 9/24/08, Lynn Wigglesworth <lynnw1366 AT hotmail.com> wrote:

From: Lynn Wigglesworth <lynnw1366 AT hotmail.com>
Subject: Re: [Homestead] Rats jumping ship
To: homestead AT lists.ibiblio.org
Date: Wednesday, September 24, 2008, 4:46 PM

Mine is not a popular opinion (I don't think) but I think the government 
needs to step back and let the chips fall where they may (I heard 2 
Congress people say that today!). People who participate in risky 
behavior need to take the consequences; our whole economy is a house of 
cards with little real value behind it. It needs to come down; if I had 
money in the system, I'd get it out, too. Come the revolution. I'm 
looking forward to it.

Lynn Wigglesworth
Tioga County, PA


bob ford wrote:
> You've probably heard the old saying about "rats jumping off a
sinking ship", the smart set generally advise ;  "follow the
rats"
> 
> This is unsettling:
> 
> 
> Money-market mutual funds see record withdrawals in week
> 
>
http://www.marketwatch.com/news/story/money-market-mutual-funds-see-record/story.aspx?guid=%7B0CAD8A20%2D0080%2D4847%2DAEC9%2D6C0C6C62B997%7D

> 
> 
>       
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>From bobford79 AT yahoo.com  Wed Sep 24 18:20:19 2008
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No Jameas, I was not referring to taxes, that is another issue, but should be 
considered, also.  
 
What is occuring now is causing a deflation on hard assets.  It must.  All 
hard assets.  That must be followed by currency inflation.  High  and low 
don't really change.  markets will eventually repel the arguments and 
attempts of even the strongest governments.  This will cost me, even though I 
did not personally participate in the credit debacle, I used cash.  
 
But, it will also cost you and eveyone else.  Your (imaginary) gifted 22 year 
old, getting ready to start his/her Juniro year at Vandy.  All of a turn, the 
scholarship money, dependent on school investment, is cut by half.  Your feed 
store has to close because they can't afford the overhead.  
 
You might do better than most, but you still interact.  You will pay, just as 
I will pay.
 
I'm just saying that If I acted responsibly, and lost, and have to suffer my 
losses; then, the people who created artificial markets for people to compete 
agaainst me, people who otherwise could not have been in the game to compete 
agaainst me; then I have a right to holler when they are not taking the same 
losses.  I don't know if that makes sense.  ....bobford



----- Original Message ----
From: "Clansgian AT wmconnect.com" <Clansgian AT wmconnect.com>
To: homestead AT lists.ibiblio.org
Sent: Wednesday, September 24, 2008 2:56:30 PM
Subject: Re: [Homestead] Wrong admission



> > But, now you are asked to pay for all of the others around you, who did 
> borrow money, to make them whole.  And, you are being asked to help make 
> the 
> bankers who lent the money, whole......do you see my point? 
> 

Not really.  Are you referring to paying income tax into the bailout or 
something else?  </HTML>
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