interest rates: I'm glad you asked - 02/02/09 06:18 AM
Thank you Nicholas for your comment and your question.
"But when people say we are living in the midst of the most devastating economic down-turn since the Great Depression, history has it that during the Great Depression, unemployment was at 23%, during the Carter administration it was at 13% and interest rates at 19 and 20% for mortgages, now unemployment rate is a 9% and mortgage rates are at an all time low, how can anyone say this is the worst or most devastating economic down turn since the Great Depression?" comment by Nicholas Goglucci, last post 2/2/09.
This is a very … (4 comments)

interest rates: The Wizards of Schmoz ..... - 01/30/09 08:27 AM

Schmoz, definition, a Yiddish word signifying low-life, deceitful, criminal, despicable, unscrupulous, abominable, irresponsible, shameful and scum-bag-like behavior ...... a few notches below a schmuck or mashugana......
.......well, not really, I just made up that word  'cause I couldn't think of any word that would rhyme with OZ and would carry all those meanings.
But I just can't think of kinder words to describe the state and the players of our financial institutions.
Every morning I wake up thinking that there can be no more surprises of wrong-doing stemming from the financial world, but every morning I am proved wrong once again.


Federico Astiz

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