by chance: while I don't doubt that there're Wall St people who make their money the hard way, by earning it, they're not the ones that have us all in this mess... The mortgage/housing bubble was deliberately generated by Alan G and the Administrations in power to avoid a slump after the dot.com bust...when the fast-money guys realised all the usual mtg loan requirements had also been relaxed, corruption and fraud crept in, and when it was successful, became rampant (liar's loans and ninja loans, etc). Everyone-everyone-involved knew it couldn't last, but everyone was getting their money up front, laughing all the way to the bank. Now the end buyers suddenly realize they've got paper they know is worth less than it's face, but impossible to value, and everything is freezing up (little credit available, mainly to well-off people at high rates, the dollar falling into the basement, etc). The people who pulled off frauds that'd put you and me so far back in jail they'd have to shoot us beans with a .30-.30 have all gotten, and are enjoying, their juicy bonuses, leaving-guess who?-to suffer the consequences and pick up the tab.
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Today's Featured Article - An AC Model M Crawler - by Anthony West. Neil Atkins is a man in his late thirties, a mild and patient character who talks fondly of his farming heritage. He farms around a hundred and fifty acres of arable land, in a village called Southam, located just outside Leamington Spa in Warwickshire. The soil is a rich dark brown and is well looked after. unlike some areas in the midlands it is also fairly flat, broken only by hedgerows and the occasional valley and brook. A copse of wildbreaking silver birch and oak trees surround the top si
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