Does the USA need a perestroika?

[Kasz216]

ckmlb said:

Kasz216 said:

ckmlb said:

The people affected by 368 bank failures would be pretty big yes.

Not really.  Not when we had billions in government spent funds that could of been given specifically been used for nonprofit loans.

Not to mention that dozens if not hundreds of banks popped up during this crisis.

Just because the money lost at the bigger banks was a much larger amount, it doesn't forgive the crimes of smaller banks and the problem was not a few people running big banks, but a much larger part of society.

There just weren't as many crimes by small banks though, that's the point... because they're small.  They couldn't take as many risks because they didn't have the assets to absorb losses AND they new the government wouldn't be bailing them out.

As for problem of society as a whole.

If you mean not understanding bank loans... sure I guess.  I mean i don't think you understand the level things like subprime loans were pushed.

My uncle got a loan to buy his first house.  He was going to get a regular one until he was talked into a sub prime loan with the excuse that he could use the money he was going to give on a down payment towards improving his house and increasing his value.

I mean... what's up with that?