04-22-2009, 01:44 PM
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#31 (permalink)
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A True Z Fanatic
Join Date: Dec 2008
Location: Texas
Posts: 1,926
Drives: 2006 350Z
Rep Power: 21
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Quote:
Originally Posted by shabarivas
Love how we nicely forget about the people responsible for leaving us in this situation in the first place... the elite few who made away with the loot... Law of conservation of wealth people... it does not disappear... just moves hands
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The primary driver for the recession is a very large amount of housing loan defaults. The banks got left holding the bag after paying off the builders when the borrowers could no longer pay them back. AIG and the like are getting killed on insuring these loans that went bad. Who are "the elite few who made off with the loot"? 
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