| SamuelRSmith said:
Well, yeah, it's all essentially just damage control, though. What gets me, though, is that in the UK every right-wing newspaper is blaming the government for the entire problem, when really it was the banks' fault (the UK banks kept buying over-valued houses from the likes of Fannie Mae and Freddie Mac before they realised that, really, they were worth nothing). |
I think it was the banks' fault as well as the government's fault for not regulating who can receive loans. What happened to fiscal responsibility?
From the government's perspective... if you're going to end up downplaying the free market (by bailing out banks), you might as well do it earlier (by regulating) and avoid all the trouble that we're seeing now.
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