tag:blogger.com,1999:blog-2761684730989137546.post2681319415916660234..comments2024-03-28T20:28:01.733-04:00Comments on Mike Norman Economics: Dumb rating agencies have no clue!mike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2761684730989137546.post-24504528121051244362008-10-01T12:14:00.000-04:002008-10-01T12:14:00.000-04:00I would say ignorance is causing this, not fear mo...I would say ignorance is causing this, not fear mongering. The ignorance is coming from everywhere--even the Fed--but mostly from ordinary people.mike normanhttps://www.blogger.com/profile/03296006882513340747noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-38753643243742999982008-10-01T01:48:00.000-04:002008-10-01T01:48:00.000-04:00This is a JOKE.THIS WHOLE CRISIS IS BEING CAUSED B...This is a JOKE.<BR/><BR/>THIS WHOLE CRISIS IS BEING CAUSED BY FEAR MONGERING OF THE US GOVERNMENT.<BR/><BR/>Simple crowd mentality. Fire a shotgun in the middle of a busy city(Bush gives prime time speech) and the whole heard will go stampeding.<BR/><BR/>The Government is holding the taxpayer hostage and demanding a $700 billion ransom. Banks are the hostages and the government is using credit agencies (S&P and Moody's) to kill the hostages one by one until we agree to pay.<BR/><BR/>This bill isn't even going to help our banks. China and Middle East banks are going to transfer their bad debt into American banks and sell it to FED. Then the taxpayer is put on the hook for it.<BR/><BR/>Home prices are only down 15% from their peak, but the banks trading them are down 60-70%. There is no correlation here. ALL FEAR. Fear caused by the FED.<BR/><BR/>This needs to be stopped. visit my blog and learn how to fight it. <A HREF="HTTP://blog.alexanderhiggins.com" REL="nofollow">blog.alexanderhiggins.com</A>Alex Higginshttps://www.blogger.com/profile/12025203168277492769noreply@blogger.com