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Glut of labor, put them to work and there is no glut. Makework projects are better than nothing. Require that their export workers get US minimum wage or higher and their glut isn't our problem.
Put them to work doing what? Digging holes?
You realize China has LESS manufacturing jobs today than they did 10 years ago.
"Neither the White House nor Congress heeded the warnings, Fannie and Freddie retained strong bipartisan support during the 1990s and early part of this decade."
Bush did nothing. It collapsed under his watch. I'll ask again since you seemed to have missed it the first time.
Wah... Wah... The people who got TOLD what to do BY THE GOVERNMENT are complaining about the consequences of doing so. WAH....!
:c rying::cry ing:
They we're never told to package those subprime mortgages into CDOs. You do understand it wasn't simply the fact that awhile bunch of bad loans were made right? It was these loans were packaged and then sold to private and institutional investors as AA and AAA rated?
Where did the government say to create the rubbish CDOs? Where did the government say to label the packages AA or AAA when they were garbage?
Incremental, substantial, whatever. Bush called for and oversaw the same thing. This happened not just because of Bush but largely under the Bush administration.
Where does the buck stop?
The Bush Administrstion decreased regulatory agencies employment and budgets.
Show me in your link. Copy and paste where they were forced to package the sub prime loans with a bunch of other stuff and made the private rating agencies rubber stamp AA or AAA.
We are talking about two different things and you are still stuck on the same thing. Subprime loans by themselves aren't what tanked the economy.
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