Re: Business Week Magazine's take on the housing meltdown
Barry Ritholtz, CEO and Director for Equity Research for Fusion IQ, an independent quant research firm, has his viewpoint of this. And, by the way, he refers to Frannie and Freddie as Phony and Fraudy..... Mr. Ritholtz says:
"I suspect this will be another hugely expensive and ultimately unsuccessful attempt to bailout our prior irresponsible profligacy. Ultimately, we pay for this through 1) the massive printing of more dollars; 2) some corresponding form of hyper inflation; and 3) the kindness of not strangers but our overseas overlords.
That's right -- we have no money for rebuilding our infrastructure, for any form of National Heath Care, for fixing/saving social security, but a bunch of rogue traders and Alan Greenspan, under the guise of "Deregulation" can leverage up and lose trillions, which you the taxpayer is on the hook for!"
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