On 4/29/2010 1:31 PM, bpuharic wrote:
On Thu, 29 Apr 2010 08:55:11 -0700, "Bill McKee"
wrote:


wrote in message
...
On Wed, 28 Apr 2010 21:57:23 -0700, "Bill McKee"


and what happened to the stock market when lehman bros went under?

it collapsed

remember 1929? they tried your method.



It did not collapse because Lehman Bros went under. It collapsed when the
first couple people with stated income loans could not pay the mortgage.

which, of course, is nonsense

CDO's were 1 trillion in 96

62 trillion in 2006.

tell me again how the middle class is responsible for that.


They bought houses that they could not afford to pay for. Those CDO's
are a disaster, but they were based on home loans. Bad home loans. If
the homeowners would have been able to pay the loans, the CDO's would be
covered from defaulting. someone got the 62 trillion in created money.
Who should be your question. Is the way the economy works.