Speaking of the housing debacle, the Washington Post reports today: "The FBI says it has arrested about 300 real estate industry players since March _ including dozens over the last two days _ in its crackdown on incidents of mortgage fraud that have contributed to the country's housing crisis." Surprisingly, two former Bear Stearns managers are also included.
So, on occasion, justice MAY prevail. However, a bigger injustice which affects all of us is the Fed printing massive amounts of paper (backed by nothing) to bail out Bear Stearns so senior management would not have to return their massive bonuses in bankruptcy proceedings - adding further inflationary pressure and depreciation of the dollar, which we now suffer for (in the form of $5 a gallon gas in California) because our modest salaries have remained the same. Video of Jim Rogers explaning this.
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