| NJ5 said: TheRealMafoo: Before you were saying that the government caused the problem by interfering in the housing market: People keep forgetting that if government had stayed out of the housing market in 1992, we would not be here today. Now you're saying it's lack of government regulation over the banks that caused the problem. I'm not really understanding your overall point here.
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In my perfect world, Government would be involved in your life, and play there role. I am not for no government. I am just for government that does what they are supposed to do.
What the government did in the housing market, was to manipulate the free market in the attempt to raise home ownership from 60%, to 66%. Clinton felt the best way to generate wealth, was home ownership, and he put legislation in to try and increase this number.
This is not what government should do. There is a good reason why banks won't loan 40% of the country money to buy a house. Trying to manipulate the number because you think it's a good thing to do, is not what a government should be doing. Clinton said this is what he was doing in an interview, and now says in hind sight that it was a bad idea.
What government should be doing, is protecting. An extreme example, would be if a bank sent someone to break your legs if you failed to pay, the government should protect you from such an act. This is the role of government.
Protection, not providing. Some people can't see a difference, I see it as clear as day.
