Greed and Greenspan
â€œA Native American grandfather talking to his young grandson tells the boy he has two wolves inside of him struggling with each other. The first is the wolf of peace, love and kindness. The other wolf is fear, greed and hatred. “Which wolf will win, grandfather?” asks the young boy. “Whichever one I feed,” is the reply.â€
Native American Proverb
Years ago, we tried to look for a house, only to find no one would give us a loan. Apparently we had too many outstanding debts to the ratio of savings. Only a few years after that, and even though our financial situation wasn’t much better, we practically could write our own loan. For some magical reason every bank was willing to loan us money to buy a house.
What changed?Â We had no idea at the time. But now, years later, this country and around the world, it is being felt this kind of careless lending.
While Europeans ridicule the U.S. blaming greed and Greenspan, and Greenspan, once called a master, might have had a part in it, I think it’s wiser to figure out the smartest way to handle this present crisis.
Now we’re told that America will need a $1,000bn bailout. Included in thisÂ a possible bailout for foreign banks as well.
Sarah Palin must be on to something with this subject. She speaks of corruption (which goes along with the already mentioned greed) on Wall Street and oddly enough, and suddenly she is the object of a lot of ridicule and name calling.
Democrat Congressman Charles Rangel, (for weeks has been embroiled in controversy over his failure to report taxes on income from a beach house) called Sarah Palin DISABLED.
British Minister called Palin, HORRENDOUS. “One of the reasons why Sarah Palin has been such a phenomenon is because she’s anti-politics, anti-Washington.
Well, if that’s true, in my opinion that gives Palin points for being PRO us regular people. Look at the MESS we’re in British Minister…Washington and politics as usual are doing a fine job of screwing us regular people, both on Wall street and the gas pump just to name a few.
We have a choice it seems by their own mouths. We don’t have to feed the greed.