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While to many fiscal conservatives the concept seems horrifying, the bailouts of Fannie Mae and Freddie Mac were necessary.
They were necessary, but why were they made necessary?
Was it because they deregulated everything and made it where predatory/high-risk loans were handed out to people? I understand the people who bit into it and bought houses they could never afford are partly to blame too, but stuff like that shouldn't be allowed to happen.
Why do you cry only about government assistance to people but you're totally fine with corporate welfare, this bail out being just one of many examples.
Why do you make up lies?
When did I say I was fine with corporate welfare?
Talk about the issue at hand instead of trying to play the blame game and making unfounded accusations.
They were necessary, but why were they made necessary?
Was it because they deregulated everything and made it where predatory/high-risk loans were handed out to people? I understand the people who bit into it and bought houses they could never afford are partly to blame too, but stuff like that shouldn't be allowed to happen.
Actually a lot of fraud and misrepresentation took place so many unsophisticated people were basically lied to about the terms of the mortgage they were getting.
Why is healthcare for all socialism, but bailing out huge corporations is not? I have not commented on the merits of this bail out, just on the hypocrisy of the GOP.
Maybe I'm getting bogged down in the literal meaning of the word. To me its just a government bail-out. I don't think socialism, but I see your point on the hypocrisy of it.
Yes. When you nationalize private companies its a form of socialism. However, we can argue all day whether or not the economy is better off doing it than not. My personal belief is to go through the pain and come out better. Bailouts are short term fixes, not long term solutions. People only change their behavior when they have to.
Actually a lot of fraud and misrepresentation took place so many unsophisticated people were basically lied to about the terms of the mortgage they were getting.
This is what deregulating lenders helped create. It became the Wild West. Like payday loans. And this was a bipartisan effort, but this storm could be seen coming years ago and Bush and the GOP Congress wanted to pretend nothing was going to happen. We were America and we were going to stay prosperous, minute details be damned. This is what you get with people who think you can lower taxes and then raise spending through the roof.
Too much regulation is not good, but no regulation is as bad if not worse as we can see here. Laissez-faire capitalism is a great theory, but then again, so is communism.
I'm not convinced that this whole thing is to be blamed on the GOP. There are plenty of folks from all over the board who are responsible for this mess.
Our elected leaders failed us, it does not do any good to place blame on a party.
Considering that Congress failed to do anything about it either, the GOP is no the only party to be blamed here..
Considering that Congress failed to do anything about it either, the GOP is no the only party to be blamed here..
I am missing your point. Is the GOP not entirely against any regulation of industry? Democrats are not openly against regulation, which is the GOP party platform and party line and has been for decades. Are you now saying some regulation of industry is good?
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