| Kasz216 said: (...) It's not the bank regulation that's the problem however. It's the fact that so many people took the Sub Prime morgages when they should of known they wouldn't be able to pay them. American culture is the problem. The consumer culture that led to the good economic times too... when a nation spends more then it earns... that's going to bite you in the ass eventually. |
It didn't bite those people in the ass... Those were people who had nothing, defaulted on loans and still have nothing. What did they lose? Nothing... That's why regulations are needed. If bankers and lenders aren't responsible enough to prevent these loans from happening, the government has to step in and regulate the market.
But it's too late now and that's academic at this point. The shit has hit the fan, let's just wait to see how much shit there was and how far it gets tossed.
My Mario Kart Wii friend code: 2707-1866-0957
