Originally Posted by
jsled
The talk always sounds good. Laissez faire, less regulation, hands off business. Then all of a sudden, the largest mortgage broker is gone, the gov is bailing out Fannie Mae and Freddie Mac to the tune of 100B each if need be. And now 85B for AIG. I wonder if a little more regulation could have prevented this? Eight years of failed policy culminating in one big bill for the taxpayer. Fiscally responsible my arse.
What are you talking about? The reason they are bleeding money is because they bought up sub-prime motrgages. Do you want to know why they were lending sub-prime loans? No not because they are greeedy, Its because minorities were not able to get loans. So what does the govt do? Makes it where minorities can get loans for outrageous amounts, of course, and says we'll back the loans if they cant pay them. Well guess what most couldn't make loan payments, and now we are paying for it.