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Let sloppy lenders eat their bad loans

Why Iceland thrives as Ireland sinks

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Reality check

Lending is a a tough business.

It can be lucrative if you get it right.

If you get it wrong, it hurts.

There is no reason on earth why citizens should make good on stupid loans and other bad bets banks made.

Loans gone bad are a fact of life and careless lenders disappear. Continuing to prop them up invites more stupidity and even bigger crashes in the future.

Welcome to our word...until it can't continue any more.

Remember: Anything that cannot go on for even WILL NOT go on forever. The only issue is when it will end.

The man who jumps out of a plane without a parachute at 10,000 feet, will report to you that "all is well" the first 9,999 feet. Do you really want to take his word for it and follow his lead? Seeking "returns" in this market - unless you are a rapid fire in-and-out trader - is utter madness.