Paulson to ask Congress for more TARP cash
By Creature
I guess my bigger question within the context of the Wall Street meltdown is why are things like mortgages, auto, student and credit-card loans being packaged as securities (and now in need of saving) in the first place? I know I may be missing something here, but wasn't there a time when a loan was just a loan?
(Cross-posted at State of the Day.)
I guess my bigger question within the context of the Wall Street meltdown is why are things like mortgages, auto, student and credit-card loans being packaged as securities (and now in need of saving) in the first place? I know I may be missing something here, but wasn't there a time when a loan was just a loan?
(Cross-posted at State of the Day.)
Labels: economics, Henry Paulson, Wall Street
posted by creature at
9:29 AM
2 Comments:
Securitization of loans meant that management could get even larger bonuses.
This has been another episode of simple answers to simple questions.
By
Anonymous, at 10:59 AM
You know how republicans long to go back to the '50s? In an economic sense (and only in an economic sense) so do I.
By
creature, at 12:33 PM
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