What we should learn from the Wall Street fiasco is they will steal our money one way or another

[NNN0LHI]

http://transcripts.cnn.com/TRANSCRIPTS/0809/21/fzgps.01.html

<snip>KARABELL: But you still would have had the issue of Wall Street financial wizardry is going to find things to create leverage on. And if it hadn't been homes, it'll be something else.

So, if you only attack the home issue...

FRANK: Oh, I think that's mindless.

KARABELL: ... you're not going to change the fact -- you know.

ZAKARIA: All right. Let me...

FRANK: If you had not had millions of bad loans made...

KARABELL: Yes, that is...

FRANK: ... you would not have had as big a problem.

KARABELL: And the current crisis is a result of that. But Wall Street will, in fact, find other things to apply leverage...

ZAKARIA: All right. Hold it right there. We're going to take a break, and we will be right back.

[dchill]

1. Aw, come on, Fareed - this is no time to take a break!

Let him finish!

[no_hypocrisy]

2. I figure that in their eyes, they're getting THEIR money back from US

which the New Deal stole from their fathers and grandfathers and gave to us like Robin Hood. Just reclaiming their property using legal processes.

[DJ13]

3. Its NOT the mortages that caused this

Its the financial instruments that bundled bad loans with good in order to get fraudulent AAA ratings that caused this.