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<blockquote data-quote="wkmac" data-source="post: 895566" data-attributes="member: 2189"><p>Good point. This was a situation where both the gov't and the friend.I.R.E. industry was rolling in the good life and the worse part is much or most of the risk was or either would be put on the taxpayer at the end of the day. Most recently Bank of America moved derivatives out from Merrill Lynch and into a deposit taking unit which ultimately can put taxpayers on the hook to cover the risk. Mussolini would be proud that we've abandon classical liberal market traditions and adapted a gov't form of his corporatism once called fascism. Great job democrats and republicans!</p></blockquote><p></p>
[QUOTE="wkmac, post: 895566, member: 2189"] Good point. This was a situation where both the gov't and the friend.I.R.E. industry was rolling in the good life and the worse part is much or most of the risk was or either would be put on the taxpayer at the end of the day. Most recently Bank of America moved derivatives out from Merrill Lynch and into a deposit taking unit which ultimately can put taxpayers on the hook to cover the risk. Mussolini would be proud that we've abandon classical liberal market traditions and adapted a gov't form of his corporatism once called fascism. Great job democrats and republicans! [/QUOTE]
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