A maverick view of the economy
Posted at 6:20 AM

Thursday, Sept. 25, 2008
Freedom is not free, and neither is the free market. Mark Cuban has some dead-on points about the Fed's bailout plan.

Cuban blogs about markets and technology the way I click the DVR to watch PTI and Inside the NFL. Yesterday, he pointed out the fact that the Fed is basically giving $700 billion to the same people who mismanaged billions of buccos before.

In other words, giving cash to a junkie hoping he changes his ways. Ain't gonna happen.

It sucks for me. No, I don't have a real solution plotted out in minute detail. In fact, I hate loans and refuse to take them. Always tried not to, except that one time in college when I needed $1,200 just to pay the rent and eat. As a result of my hatred of loans, I have neither good credit nor bad credit, which is just as bad (they tell me) as having bad credit.

Why? Because I don't have a history of maxing out credit cards. I've written before about this, and now I still think it's crazy and stupid to pay interest on credit cards just to have a credit rating. Eighteen percent? Are you kidding me?

Of course, a wiser person would have used credit cards, paid the bill on time and avoided interest -- exactly the kind of consumer credit card mafia truly hate. They love the majority of us -- folks who max out every card and have choke debt. Good news if you own stock in MasterCard or Visa. Bad news if you're a typical debtmonger.

Check out what Cuban has to say. You may hate his shenanigans as owner of the Dallas Mavericks, but he knows what he's talking about when it comes to the markets and technology.

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