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<p>[QUOTE=&quot;medoraman, post: 1674973, member: 26302&quot;]First, they aren&#039;t MY BOYS. I do not own any stock in that company, nor am I an investment banker. You saying that is inferring I have some kind of invested interest in the subject that I am not disclosing to the board. I don&#039;t, so I kind of resent that.</p><p><br /></p><p>Second, there are literally millions of derivatizes and similar products that can be bought. You know what? Every single one of them have a LEGITIMATE PURPOSE. Yes, in this instance the politicians may have bought them for the wrong reason, but how is that not the politicians fault? How are we not holding THEM to blame here? It is the EXACT SAME logic as blaming McDonald&#039;s for being fat, or blaming the manufacturer of a 12 gauge shotgun for some idiot shooting someone, or the maker of a kitchen knife for someone chopping their finger off, etc etc. </p><p><br /></p><p>All of these financial instruments CAN have a proper purpose. If a politician KNOWINGLY bought them to defraud the intent of the European regulatory agency, why is that politician not in jail right now? Blame the perpetrator of the crime, not a manufacturer of a product that can be used properly. </p><p><br /></p><p>Having said that, OTOH I am completely against bank bailouts like this. Banks need to be allowed to fail, however spectacularly. The government if they issue deposit insurance of course needs to be involved because of the insurance, but bank bailouts are the worst thing we can do. If a company is not afraid of failing, if every worker is not afraid of losing their job if they are not prudent in their decisions, you get these catastrophic events like we have seen in the last 5 year.</p><p><br /></p><p>So, in short, let the banks fail if they take bad risks, but they are not to blame for politicians trying to lie and steal to stay elected IMHO.</p><p><br /></p><p>Chris[/QUOTE]</p><p><br /></p>

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