NJ5 on 13 September 2008
| akuma587 said: Ironically, the housing market collapse was because there wasn't enough government regulation. Many of the lending practices in the last few years were questionable at best. A ton of people were approved who could not afford a house. The free market spun out of control on its own enthusiasm until it all came crashing down, kind of like the DotCom bubble. |
That's what I meant in one of my later posts... This shows how incredibly short-sighted the free market can be.
The "100% free market" crowd are just a bunch of idealistic wishful thinkers.
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