Saturday, March 17, 2012

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Peninsula readers' letters: March 17
From Daily News Group readers Posted: 03/16/2012 05:35:33 PM PDT March 17, 2012 5:35 AM GMT Updated: 03/16/2012 10:35:48 PM PDT
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Dear Editor: Whether Wall Street was corrupted by greed and excess, more than three years after the financial crisis started the perception that little has changed on Wall Street -- and that no one has been held accountable for the risk-taking that led to the crisis -- looms large in the public consciousness.
So, little by little, the skeptics are won over to invest their funds to take a chance on making more money, for the rebounds are relatively quick and they do not feel too much pain.
And there is a rebound, for there are still people to be convinced that things will keep going up -- indeed, must keep going up. They too must be won over and convinced to overextend themselves little by little. It is a gradual process of boom, then downturn, then bigger boom, then another downturn. The downturn will become a recession, the recession will become a depression, and the depression will become the crash.
Ted Rudow III, MA
Palo Alto

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