DISQUS

chrisday85 · 5 months ago

Here's the part you are missing:

The biggest cause of the collapse was loans given to low income borrowers. The regulations put in place by Jimmy Carter, then enforced further with fines on Fannie Mae and Freddie Mac for not giving out the loans killed the economy. There is absolutely no doubt in that.

Fannie Mae and Freddie Mac held over 1 trillion dollars in low income loans. If the government backs a loan, well then of course it's a great business decision to do credit swaps on those loans. The government themselves guaranteed the loans. Credit swaps are not the source of the problem. It's like investing in stocks. It is a perfectly sound idea. The root of the problem was REGULATION forcing loans. The companies who participated in credit swaps (AIG) were making a choice based on the government's intervention.

Regulation caused this mess, and regulation will NOT get us out. All it took was the fool of those low income loans forced by democrats, and the fall of anyone who did credit swaps on those loans to put us where we are. So please explain how DEREGULATION caused that? Name the act that deregulated? In actuality, Bush tried to regulate the loans further, not deregulate. In 2003 and 2005 him and McCain tried to to change the regulations to stop banks from giving out low income loans which caused this crises. Two years after the democrat different regulation style (democrats vs republican is not regulation vs no regulation, that's just a lie by democrats) took over the economy collapsed. People say 8 years of failed politics...2 years were democrats...The regulations in 2005 were killed by a unanimous partyline vote against it by democrats (Anyone with common sense knows that you need over a 2/3rd's majority to pass anything with no resistance, or as the dems recently worded it a "60 seat fillibuster proof majority".

Think of it this way: If the government regulates business, they have to decide what is best. How quick do they usually do that? Less than 5% of the stimulus package has been spent so far. 400 million has been spent in some areas. You know how many jobs were created? 32. 6 part time. They expire in January 2011. Do the math on that one.

If a business owner owns his business, he puts out as much product as possible. Every country out there that does what you and democrats want, has a regime in power that just wants power (democrats) and they decide what everyone wants, and also people have a lower quality of life. I get to decide what I want to have and can have. Not the democrats.

I'd wake up soon if I were you, before they take entire power. They own the banks, auto industry, and are trying to determine what healthcare you can and cannot receive. That's a bad idea, considering euthenasia laws...In the future if it's more cost efficient to have a 65 year old die...Why not? That's what we are moving toward.