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No, it was deregulation that didn't stop the financial sharks from performing mischief.
Your argument, blaming the government for the crisis because of lack of regulations, is equivalent to blaming the police for causing murders because they didn't catch a serial murder sooner.
That is a terrible analogy.
Because policies were already in place and Government eradicated them.
Government also wanted more people owning homes so legislation was enacted to get people to borrow more than they could afford. Government eradicated Glass Stegal.
Because policies were already in place and Government eradicated them.
Government also wanted more people owning homes so legislation was enacted to get people to borrow more than they could afford. Government eradicated Glass Stegal.
Status:
"everybody getting reported now.."
(set 23 days ago)
Location: Pine Grove,AL
29,555 posts, read 16,542,682 times
Reputation: 6040
Quote:
Originally Posted by Robert_J
I know a guy that won $5,000 on the slot machines in Tunica, MS, should I invest my 401K there as well?
For every winner, there are hundreds of losers where the .gov "invested" in companies. Also, find a single instance in the Constitution where the federal government has the power to bail out any company.
Welfare mentioned in the Constitution, show where it says the government cant ?
Status:
"everybody getting reported now.."
(set 23 days ago)
Location: Pine Grove,AL
29,555 posts, read 16,542,682 times
Reputation: 6040
Quote:
Originally Posted by VTHokieFan
That's not what I asked. "How did they do with Solyndra?" is what I asked. Do you have a response?
I do, Solyndria was not a bad investment at the time, the company had a plan that more than 50 people in both Administrations signed off on, then circumstances changed as did the market.
By the way, they never saw all of that 500 million dollars.
No, it was deregulation that didn't stop the financial sharks from performing mischief.
Your argument, blaming the government for the crisis because of lack of regulations, is equivalent to blaming the police for causing murders because they didn't catch a serial murder sooner.
Umm, no. Murder is illegal.
The predatory lending, short-selling, and the creation of enormous "junk" hedge funds, were the result of inaction on the government's part. Because of the inherent nature of being an elected official with the expectations of creating a framework of laws which protects consumsers from the heartless dickwad bankers, money managers, and wall st in general, I would say their inaction could be considered as collusive, malicious and self-serving as those who perpetrated the intended finanacial crisis.
It could have been prevented, so it WAS the government's fault.
And yes, I am aware that in a healthy financial market, that short selling is rather innocuous, however, with the lack of regulation from the federal government, it was very damaging.
Status:
"everybody getting reported now.."
(set 23 days ago)
Location: Pine Grove,AL
29,555 posts, read 16,542,682 times
Reputation: 6040
Quote:
Originally Posted by BoomBen
That is a terrible analogy.
Because policies were already in place and Government eradicated them.
Government also wanted more people owning homes so legislation was enacted to get people to borrow more than they could afford. Government eradicated Glass Stegal.
Glass Steagall wouldnt have stopped the crisis so that argument is based on a false premise. It would have only stopped a specific portion of it.
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