The Mudcat Café TM
Thread #114406   Message #2443089
Posted By: MaineDog
17-Sep-08 - 11:06 AM
Thread Name: BS: Big Trouble on Wall Street
Subject: RE: BS: Big Trouble on Wall Street
If a hurricane were to hit New Orleans and substantially wipe it out, I bet almost everyone in the country would scream for the Feds to step in and bail them out, even if they knew they were building below sea level and not adequately maintaing their levies and pumps.

Now that a disaster has hit the American financial infrastructure, some people are upset that the Feds are taking action. Is this a case of "not in my back yard" or "those immoral bastards deserve what they get"
or "the American financial system is not in line with the demands of Allah and deserves to be destoyed along with the World Trade Center"?

Unfortunately we do have a financial infrastructure which has become essential to business as usual. FACT. Perhaps this should not be so, but here we are and it has taken us many years to get here, and it will take many years to back out of the situation even if we decide to do so now.

If a terrorist blows up an important bridge, we fix the bridge, we don't wait until we catch the terrorist and see if we can squeeze any money out of h-.

Then, we put new standards on bridges, and new defenses in place, and try to prevent it from happening again. Catching and punishing the crook is a good idea, but probably not the most important to do now.
MD