Derideo_Te
Je Suis Charlie
- Mar 2, 2013
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In what way has deregulated capitalism lost millions of jobs?
The Impact of the September 2008 Economic Collapse - The Pew Charitable Trusts
Jobs 5.5 million more American jobs were lost due to slower economic growth during the financial crisis than what was predicted by the September 2008 CBO forecast.
So now your contention is that deregulation caused the housing bubble and subsequent crash? It's amusing how you manage to totally ignore the part that regulations that LED to the housing bubble don't seem to come into play in your viewpoint of what caused the economic meltdown. Giving home loans to people that normally would have had a hard time qualifying as rental tenants is suddenly a conservative initiative? Really? It's tragic that bankers...a part of our system that were always characterized BY their being conservative...were coerced into making sub-prime loans by pressure from the Government...loans that wouldn't have even been considered by competent bankers a generation ago.
That disinformation has been debunked. Normal banks were not making those mortgages because they were prevented from doing so by the existing regulations requiring proof of income in order to qualify. It was the DEREGULATED Wall Street "banks" that were making those predatory balloon mortgage loans. Perhaps if you had actually read the links provided you might have learned those facts.