The financial world is collapsing after decennia of greed and self enrichment: the world is in despair! Banks are nationalized, black Mondays are followed by black Tuesdays and interest rates are lowered up to a point that money will be for free. I never understood a free market without regulations, especially since supervision of power and protection of "main street" is in the hands of politicians and other civil servants.
Isn't it ironic, we have to feel devastated about our financial system that actually is responsible for it's own decline? The positive side is that actions are being taken by National Governments all over the world. But will the question be answered: "Why didn't anybody use his or her common sense?" Is it so difficult to imagine that a deal of 24 billion, that a year before should have been 10 billion isn't a good deal, but just an ingenuous construction - if not fraud - that brings a lot of money to hedge funds and shareholders? Yes, it is sad what is happening with the mortgages and savings of Mr. & Mrs. Jones, but the collapse of the financial system might be the start of a fairer future. Let's only hope that the people responsible will be held accountable for their actions.
No comments:
Post a Comment