Paulie
Diamond Member
- May 19, 2007
- 40,769
- 6,382
- 1,830
DEregulation was PART of the problem.
Why you people insist that this enormously complex SNAFU has but one cause simply amazes me.
Had we not changed the banking charters they could not have gambled with our money they way they did.
Then nothing that the FED did would have caused this ENORMOUS BANKING crises.
Why is that hard for some of you to understand?
It took multiple mistaken policies to get us into this mess.
You know better than to claim I only blame one thing.
The reason I don't blame dereg is because I support it. I support the people's choice to accept a stupid loan. I'd rather us make the mistake and learn from it, than be insulated from it all completely.
It's part of growing as a society. All we had to do was be smarter than the bankers. Some of us were, most apparently weren't.
You say the fed wouldn't have caused this if it weren't for dereg, and I believe the opposite. I believe that if credit wasn't that cheap to begin with, banks wouldn't have offered those loans.