XPost: talk.philosophy.misc   
   From: mani@sympatico.ca   
      
   Residential mortgages are not the only problem. Home equity, credit   
   cards, auto loans are all seeing a serious rise in delinquencies and   
   foreclosures. While their failure CEOs leave with tubs of money, banks   
   are having to eat into their capital base in order to reserve for   
   growing losses. And that means they have less money to lend and   
   tightening credit conditions for both business and consumers.   
      
   A big problem is confidence in the assets you are purchasing. If you   
   cannot trust an AAA-rated piece of paper in a state-run money market   
   fund, where do you put your money? Investment products with full   
   transparency and real guarantees but where's that? Are the bond   
   insurers the next shoe to drop?   
      
   & Merry Credit Card Xmas   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)