Has anyone considered that the securities purchased by the government might work out as a good investment? They are valued at somthing like 22 cents on the dollar on the balance sheets of these firms. Mostly becasue they are hard to value and there is no market. However, they are still backed by mortgages that people like you and me want to continue to pay on and keep their house. That is if we can make enough money. We can if the mortgage/housing mess gets back on track and the economy stabilizes. It can't if these banks can't free up their resources to creat money in the system by making loans to homebuyers. I think the there are smart people putting this together that realize the pockets to be lined are those of Uncle Sam when his investment is worth 50 cents on the dollar instead of 22 cents.
So, if we go out to a concert in Memphis, we are supposed to be totally quiet and stare in wonder at the performers? Everyone isn't a music snob, but enjoy concerts just the same. Obviously cell phones are obnoxious, but chatting is something people do when they are out enjoying themselves. Maybe Plant was looking at you and wondering why that guy won't lighten up?
By Toby Sells
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