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A sad day for Anglo-Saxon capitalism
Wall Street's antics have betrayed the free market, writes a prominent financial journalist. We should be so lucky
Andrew Leonard [2007-12-12]

  • Collateral

    Obviously some posters here really know about this stuff. So...I submit a chance to try to answer this dummy's questions...

    How exactly does this financial crisis result in effects on the rest of society?

    I have no house, no money, and no credit. Are prices going to go up? Are jobs going to be lost? How many, and whose?

    If a huge number of people are going to be kicked out of their houses, they won't have to pay off those mortgages. So that's all just paper loss for investors, right?

    Doesn't everyone rich eventually just wake up one day and realize they're not as rich as they thought they were, and get over it?

    -- blunderdog
    [Read blunderdog's other letters]
    Wednesday, December 12, 2007 04:23 PM
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