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@Mafoo, that's a ridiculous comment to make, because first off you still suffer, if your loan defaults, even if you're the bank that made the loan because of the government paying you to do so, you experience losses, so the idea that you make stupid loans is still your fault and your problem, same with the consumer who takes the loans. Everyone knew the market was over leveraged and going to experience a downturn, and the lenders still gave them out.

Secondly as I pointed out, there were far more than just the government subsidized loans that played a role in this, the shadow banking system, which acted as a way of lending between businesses collapsed when the market went under, they had little regulatio nor protections, so that was billions lost there, the government wasn't at fault for that.

Or predatory lending where Banks would get people to take out loans with loan terms that the borrowers couldn't handle, the government didn't do that.

As I pointed out, your argument also falls flat on the basis of your own beliefs, on personal responsibility, doing something stupid and then whining that the government made it too easy for you to do that stupid thing only shows that you were an idiot, it was their responsibility not to give out bad loans, and the consumers not to take them, so blaming the government is disingenuous, the government didn't forec them to make bad decisions.



 

Predictions:Sales of Wii Fit will surpass the combined sales of the Grand Theft Auto franchiseLifetime sales of Wii will surpass the combined sales of the entire Playstation family of consoles by 12/31/2015 Wii hardware sales will surpass the total hardware sales of the PS2 by 12/31/2010 Wii will have 50% marketshare or more by the end of 2008 (I was wrong!!  It was a little over 48% only)Wii will surpass 45 Million in lifetime sales by the end of 2008 (I was wrong!!  Nintendo Financials showed it fell slightly short of 45 million shipped by end of 2008)Wii will surpass 80 Million in lifetime sales by the end of 2009 (I was wrong!! Wii didn't even get to 70 Million)