electronic bank run

[bobmorr1]

http://www.brasschecktv.com/page/559.html

What almost happened!

[ixion]

1. All we have done is delay the inevitable...

and make it worse when it does actually hit.

We've borrowed and/or printed every penny of every "bailout", because, well, we're broke. In fact, we're more than broke, we're damn near insolvent.

[Donnachaidh]

2. so WHY are we buying toxic paper rather than doing what the Brits did?

Toxic paper doesn't become anything else. We're just covering the asses of the people that GOT us into this situation.

[FreakinDJ]

3. Economic Warfare

Some thing the RATpublicons failed to acknowledge while spending their way to oblivion in Iraq

[westerebus]

4. If the banks fail.

Well that sums up the real reason the political parties keeps throwing our dollars away. To paraphrase: if the banks fail, so does the government.

The elected will not have to give up their power as long as the uber capitalists can rely on a taxpayer's bailout.

Maybe the question is not what to do with the current capitalist system, it's what to do with current political system?

[Warpy]

5. They know who did this

but all their meetings about it have been behind closed doors.

My own suspicion is that it's the sort of economic terrorism that Clinton was trying to prevent by shutting down those offshore conduits. Phil Gramm refused to allow the legislation out of committee, calling it "fascist."

Phil Gramm was protecting Enron, not his country.