Pissing in the wind here, since this topic will stay alive for maybe another 10 minutes before it's deleted, but whoever wrote this isn't watching the news: in Europe, the regulations that kept i-banks and commercial banks at arms length here don't exist; many of the largest financials in Europe are cracking up as we speak.
Yeah, uhm, not so much. We'd rather the world economy not implode and people are pretty friggin' scared here too. European stock markets have tanked as well. Things are connected, you see. Thanks for playing. (Flagged)
To be blunt, there are a lot of people out there who just blame the U.S. for everything. That doesn't mean the world hates us it just means they don't want to blame themselves and we're the most visible target.
The truth is, ironically, this is one of those unique situations where the U.S. would have fallen alone if the rest of the world had ignored what our irresponsible lenders were doing. This crisis, thus far, is limited entirely to the banking industry (other people are over reacting to it but the only industry that's actually faltering are the banks). Which means banks in Europe would be fine had they not (a) made the same mistakes and (b) bought up packages that contained loans they knew weren't solvent.
Are you not living in the same world as I am? Didn't the Nikkei index loose close to 10% again yesterday? Panic doesn't restrain well unfortunately...
When someone falls for a scam, you blame the victim for not figuring out he was scammed soon enough? Fair enough, other financial institutions around the globe should have done their homework better, but that doesn't change much about the fact that Wall Streets money-grabbing and greedy mentality isn't to blame for the current mess...
I keep getting modded down for stating this, but why don't people follow the site guidelines when posting, listed at http://ycombinator.com/newsguidelines.html . Further, why don't the site admins moderate accordingly?
Again, this site is turning into another low quality clone of Reddit and Digg, and it's a shame. I miss the old days of Hacker News.
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[ 6.0 ms ] story [ 64.1 ms ] threadThe truth is, ironically, this is one of those unique situations where the U.S. would have fallen alone if the rest of the world had ignored what our irresponsible lenders were doing. This crisis, thus far, is limited entirely to the banking industry (other people are over reacting to it but the only industry that's actually faltering are the banks). Which means banks in Europe would be fine had they not (a) made the same mistakes and (b) bought up packages that contained loans they knew weren't solvent.
When someone falls for a scam, you blame the victim for not figuring out he was scammed soon enough? Fair enough, other financial institutions around the globe should have done their homework better, but that doesn't change much about the fact that Wall Streets money-grabbing and greedy mentality isn't to blame for the current mess...
Again, this site is turning into another low quality clone of Reddit and Digg, and it's a shame. I miss the old days of Hacker News.