DJIA, Lehman Brothers, Paulson, Treasury Secretary, Sub Prime, Unsecured Debt, System Reset
DJIA Whoa. SYSTEM RESET. Biggest drop since 9/17/2001. This is just the beginning. I listened to the Paulson interview, from CNN.com live and a guy in the crowd basically asked him ‘why give loans to Bear Stearns and not Lehman’ and Paulson didn’t have an answer for him. He did but it was BS. Paulson’s a puppet. His answer was “we’ve never considered backing Lehman” What does that explain? Why not, Paulson?
No one has even addressed the subprime car lending market, and their bad practices of negative equity debt wrapping, from car to car or the unsecured credit card debt market. “HOLY S***….. We don’t even have real estate to sell for this. All we have is some guy’s word that he’ll pay us”
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