Boy, did you ever say a mouthful! The abuse of credit created this whole mess from the derivatives protecting mortgages sold upstream to huge swaths of commercial paper based on betting on interest rates. The banks didn't take the stance of Midas Mulligan. They agreed to be raped if the price was right. And what a price!
I am struck by how far they can drive in desolate Wisconsin.
And I was sruck by the fact that they had to go 200 miles to find a phone. Where were the gas stations?
It's not rape if they get paid.