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Yes, there is plenty of blame to go around, but ONLY after the government
created the environment for this to happen. Bobh is right-on.
Harry
----- Original Message -----
From: <hbernst963@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, October 08, 2008 9:35 AM
Subject: Re: [RT] Time to end hedge funds?
> There is a lot of blame to go around in this crisis. To blame it on the
> government is ridiculous, IMO. There are many players in this- Wall
> Street
> speculators, lax government supervision, mortgage lenders giving money to
> people
> who couldn't afford to pay for houses, etc.
>
> What we are seeing is a normal long term cycle of credit expansion and
> collapse. See the depression of 1835-42, the Panics of 1873 and 1890 and
> of
> course, 1929-1932.
>
> Howard Bernstein
>
>
>
>
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>
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