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That is the nub of the real problem here.  The gamblers have queered the pitch for real people trying to do real things - and now even productive economic activity is put at risk.

The solution, however, is not to let the gamblers write off their bad bets - thus freeing them to engage in such activities again.  They should all be declared the bankrupts and frauds and confidence tricksters that they are.

The solution is to build businesses that are not dependent on bank credit to fund their operations - and alliances between cash rich and investment intensive business types.  Expect a lot of cash rich businesses to start taking over a lot investment needing businesses at bargain basement prices.

After all, if you have money, why would you put it into a bank?

Vote McCain for war without gain

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Sep 26th, 2008 at 06:34:05 AM EST
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