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bwahahahaha. That's classic.

I don't quite know how I feel about federal intervention. Those guys were not being conservative and they were chasing big double digit returns. That's ridiculously risky, and if you get burned you get burned hard.

I thought this was common knowledge?

Aqua OS X wrote:

bwahahahaha. That's classic.

I don't quite know how I feel about federal intervention. Those guys were not being conservative and they were chasing big double digit returns. That's ridiculously risky, and if you get burned you get burned hard.

No. If you get burned you bitch on TV and the government bails you out.

In Capitalist Amerika, Market Decides You!

I say let them rot. Their kids can go to public school and they can drive a Ford.

dvpierce wrote:

Aqua OS X wrote:

bwahahahaha. That's classic.

I don't quite know how I feel about federal intervention. Those guys were not being conservative and they were chasing big double digit returns. That's ridiculously risky, and if you get burned you get burned hard.

No. If you get burned you bitch on TV and the government bails you out.

In Capitalist Amerika, Market Decides You!

I say let them rot. Their kids can go to public school and they can drive a Ford.

Damn dude!  A Ford?  You're heartless.

resedit wrote:

In a lot of ways - I think the country is failing its people by not teaching better financial stewardship in high school.

Absolutely. The level of ignorance in this country when it comes to money, saving, credit, etc. is horrendous.

Nah - exponential growth is algebra.

resedit wrote:

A lot of people bought homes who shouldn't have.

In a lot of ways - I think the country is failing its people by not teaching better financial stewardship in high school.

At this point - too many parents (including my own) were not good at it and set a bad example for their kids to follow. Consumerism is being pushed by mass advertising - you have to have an iPod, you have to have the latest sneakers, you have to have a new car, you have to have a good stereo system in that new car, etc.

The result is that people carry way too much debt in todays society in relation to what they make, resulting in increased occurrences of financial meltdown.

Debt on a home is one thing - because it is balanced by equity. But when you carry too much consumer debt, you can not get the good interest rates or make the extra house payments that greatly reduce the long term cost of your house, and often you end up in trouble.

I blame people for buying when they shouldn't.
I blame lenders for loaning when they shouldn't.
...

I blame medical bills for being responsible for more than half(an estimated 54.5 percent) of all bankruptcies.

When are people going to learn to die within their means?

Last edited by matt (2007-08-07 4:24 am)

Right. Fifty million Americans have no health insurance because they're all financially irresponsible.

Damn irresponsible poor people.

These iffy mortgages should never have been legal. They aren't in Canada. Or anywhere else that I'm aware of. Only in Amurica.

As a kid, I was always somewhat ticked off that my parents didn't buy me as many toys as some of my friends have, didn't buy me a car, etc... but its awfully nice not having to go into debt to pay for college[undergrad]

Farmerkev wrote:

ShnickyShnack wrote:

These iffy mortgages should never have been legal. They aren't in Canada. Or anywhere else that I'm aware of. Only in Amurica.

I don't know about that.
You're all for allowing people the freedom to do just about everything else, gambling should be included.

I'm okay with people exercising their rights as long as it doesn't infringe on my rights. In this case this kind of thing risks property values, not to mention damaging the nation's economy.

Maybe if you're okay with paying the bills for other people's gambling, you should consider being okay with paying for their health care.

Nefarious wrote:

resedit wrote:

Nah - exponential growth is algebra.

All algebra is a subset of calculus.

The University of Guelph's physics department has an example of an exponential equation in both algebra and calculus featuring wee beasties.

All calculus is a subset of math.

If you can express something with algebra - which most people learn by tenth grade - instead of calc - which some people never learn at all - all the better.