Sunday, April 13, 2008

History Repeats....

A lot of the 1929 stock crash, which was at the least a major factor in the Great Depression -- at the least, it didn't help things -- was a lot of purchases with little money down: buy with no money and when the stock assuredly rises, pay back on sale. The problem is obvious: a fallen stock.

Same thing happened with mortgages -- not just sub-prime -- but it's worse than 1929.

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