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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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I agree with the basic premise that government guarantees create a moral hazard.
I disagree that people were uninformed. The people at Fannie and Freddie, as well as the stockholders and people who bought the securities all thought they could make a buck before the $h!t hit the fan.
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Some Porsches long ago...then a wankle...
5 liters of VVT fury now
-Chris
"There is freedom in risk, just as there is oppression in security."
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