Bail-out is just more trickle up economics

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Bail-out is just more trickle up economics

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Bail-out is just more trickle up economics

Published by kidmercuryblog
09-22-2008

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Bail-out is just more trickle up economics

Flips were the buzzword of the day. Just about anyone, from the sidewalk wino on up, could qualify for a mortgage. And the price of real estate always went up. So it was a no-brainer to simply bid in for whatever real estate you could get and sell it to the next greater fool. Like all ponzi schemes, the last guy in the chain suffered all the losses.

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