CNN must be outraged

[sho-tim]

" CNN business reporter Ali Velshi broke ranks when reporting on "dried up" credit and said, "When I say 'dried up,' I don't mean there's no money. But you'd better have good collateral and good credit.""
http://townhall.com/Columnists/JohnStossel/2008/10/08/try_free_enterprise


Yes, CNN business reporters are absolutely stunned and outraged that you must have good collateral and credit in order to get a loan. It's just so freakin unfair!

 

[Gringinho]

Prof. Sachs from Columbia was on CNNI earlier and talked about how the US has not recapitalized banks yet - while Europe is doing that... and that more prolonged and serious misery will follow in the US. Not a depression, but certainly a prolonged recession.

 

[nutmeg]

Professor Sachs should hop on a plane and head to Europe and pass out some "atta boys" and a few high fives.

 

[clacy]

Quote from sho-tim:

" CNN business reporter Ali Velshi broke ranks when reporting on "dried up" credit and said, "When I say 'dried up,' I don't mean there's no money. But you'd better have good collateral and good credit.""
http://townhall.com/Columnists/JohnStossel/2008/10/08/try_free_enterprise


Yes, CNN business reporters are absolutely stunned and outraged that you must have good collateral and credit in order to get a loan. It's just so freakin unfair!

Yes, isn't that exactly why we're in this mess in the first place? Bad loans to people that weren't credit worthy???

That's exactly (tighter credit) what this country needs for a while. Of course it will be painful, but make this country stronger in the long term, in my opinion.