MAGPIE » WILLING DUPES: Douglas Rushkoff on the credit crisis - Arthur Magazine blogs for you...
This is the article I read a few months back that explained the current situation for the sub prime mortgages. Lenders did a very similar thing with credit cards and mortgages. Basically, the entire credit system is collapsing due to very bad logic, greed and over speculation.
Somehow we are now expected to bail out these investors. I just don't think it's fair that we bail them out while still owing them for houses and credit cards. It's time for a debt moratorium on some level.
Thursday, September 25, 2008
MAGPIE » WILLING DUPES: Douglas Rushkoff on the credit crisis - Arthur Magazine blogs for you...
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