Scrooge and the Mortgage Crisis
schulte at teacher.com
Sat Nov 29 01:52:55 CET 2008
Greetings to all!
The satire in the Weekly Standard with Uncle Scrooge asking for government assistance indeed had to come from a Disney Comics fan!
But I have to object: Scrooge would never have gone bankrupt by investing in subprime mortgages, which were mainly about political correctness in getting mortgages to people without the means to support a house or pay a mortgage, and then "bundling them" to be sold to investors higher up the food chain in an irrational bubble market.
Instead, Scrooge would now be buying the parts of the "wreckage" that could be rehabilitated and looking to increase his fortune in the future!
If Uncle Scrooge comic books were read by more Americans, and by more Europeans, our economies would be in much better shape! Uncle Scrooge is all about hard work, personal pride in accomplishment, individual freedom, and the absence of whining about how awful things are! If you think things are awful, then you get to work and make things better!
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