Quote:
Originally Posted by Ceteris Paribus
Read the article. Agree that there were bad decisions and dishonest dealings. We are where we are and no amount of Monday morning QB'ing changes the basic premise this is a genuine liquidity crisis. Worldwide markets also falling dramatically.
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the crisis is not a lack of money per se. It is a lack of confidence that other institutions are being honest. What we have is a transparency problem, and I don't see how pouring more money into that hole changes things.
We live in a la-la land, where somehow median housing prices that are north of 400,000 dollars are CORRECT and PROPER and a downturn in prices is going to kill us all. We HAVE to have a downturn in real estate to come out of this. It has to happen.