This morning on NPR I heard someone say this about our economic situation
'Private profits, Socialized losses'
Brilliant. I couldn't have said it better. I do not think we, the lower class or middle class, should have to bail out people who profited off people they knew were never going to be able to make their mortgage payments. Those people lost their homes and stood by helpless as their credit crumbled while investment brokers profited. Then I went home for dinner last night to my folks house. My parents, whom like most people their age, have their retirement tied up in investments; investments that will never have time to recover before they need the money to retire on. Thus far my parents have lost about $200,000 of their nest egg and watched as the value of their home dropped to $450,000 from the almost $900,000 it was two years ago.
So bail out huh? I dont know. We ate spaghetti.
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Really? That's mom and dad's losses? Looks like they will be eating a lot of spaghetti in retirement. Spaghetti otherwise known as ramen.
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