Financial Crisis Augers Ill for Future

Friedman, New York Times, Dec 17, 2008, hits the nail on the head here, in many ways.

Unfortunately, he neglects mentioning the anti-Robin Hood nature of the original Ponzi scheme of the mortgage industry, which was, to steal from the poor and give that money to the already rich. The mortgages that today are called "toxic" had terrible interest rates (ultimately) which would have floated money up the financial tree from "the poor" to "the affluent".

The world is insane, and the future is bleak.