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So Nancy makes a speech that they don't like because it offends their fine political sensibilities (aw didums, did the nasty woman hurt your feelings?), and thats enough for them to risk collapsing the US Money system? Does that sound a teeny weeny bit irresponsible to you?

I doubt that the speech was the actual issue that brought down the bill, but that the members in that party (as in the other one) simply couldn't stomach passing the terms of the bill. They took a pot shot at herself to make a bit of political hay.

I admire the fact that the Congress made sure to tell Wall Street who calls the shots in the running of the USA, I just hope that the American economy doesn't go under before they can agree another, more acceptable plan.

You have to laugh

Fury at $2.5bn Lehman bonus


http://business.timesonline.co.uk/tol/b ... 795072.ece

Barclays said there is no obligation to pay it out but analysts say the competitive pressure to keep key staff means he will have to.


It's not as if these key men would get a job elsewhere is it? I mean would you employ any of them?

There you go, anytime is a time for politics. When did regulation every stop fraud or the like? Congrees seems to forget who created the environment and the encouragement to Freddy and Fannie increse home ownership and to provide mortgages to those who could not or could barely afford them.

Clearly no one knew what they were actually investing in with all the sophisticated mortgage backed securities and those investors and banks should pay the price, but who is it that is not paying their mortgages?

QUINNSCOMMENTARY;1002168 wrote: but who is it that is not paying their mortgages?


I dont believe the crisis has found specific boundaries. Whom did you suspect ?



Not even affluent homeowners are safe from the foreclosure crisis. In Maryland, “counties with high incomes and pricey housing were among the hardest hit, the Baltimore Sun found. “All but two of the 10 most affluent counties — those with median household incomes topping $70,000 — saw foreclosure cases rise by more than 50 percent, the paper says. In these pricier neighborhoods, buyers had to stretch more to be able to afford homes, the paper explains. Plus, easy mortgage money at the beginning of the housing boom didn’t help the situation.