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sw ontario | I am lucky as most kids kick the old guy out of the combine and make them do the manual labor of hauling and dumping so listening too radio all day they have show on CBC on 2008 financial meltdown and why some of the "banks too big too fail" had too be bailed out and propped up as if they let everything crash and burn , credit lines,debts,ect. would be called in and our whole NA economy would have been destroyed . Something I never thought of is how pretty much everybody relies on credit from picking up farm inputs,mortgages,credit cards,ect. Just think if to-morrow you could not use any credit, re-new mortgages or finance anything how it would change your life/business. Ben Bernake (sp?) was one of the guests,not sure who others were. Talked that no credit was one of biggest issues in 1930's depression. Dad said his Mothers family tried too mortgage there farm too pay some bills back then and banks and a local well do do cattle broker said they didn't loan money for farms as that wasn't good collateral | |
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2008 meltdown/bailout/credit
