http://www.youtube.com/watch?v=_MGT_cSi7Rs

You can see here back in 04 that the Democrats are repeatedly trying to cover up for Fannie Mae, even Barney Frank (one of the guys who is supposed to be fixing it now). Then you see Republicans trying to fix the problem. The Dems pull the race card (they seem to do that alot), and attack the regulator. Well, just watch it for your self. It makes me sick now looking back, especially since somehow the Dems are trying to pin this on the Republicans...

Most disgusting line of the entire sequence is when Raines refers to the subprime loans as "no risk". This is the man that is Barack's Chief Financial Advisor... pretty scary his judgement is that poor.

TY, MrBubbles. I need to do that next time. I always forget.

You are correct sir.

And they stole my apple juice!

*rubs temples* sop trying to sway voter here BJ

its getting old seeing all this spin here, leave it to the big three

Keep dreaming. Most Americans have a lick of sense and are capable of independent thought, so they wont be fooled into believing that the "pro-regulation Republicans" (its funny everytime I say it) didn't cause this mess.

actually we as Americans caused this mess by not educating our children about the danger of credit and living beyond there means

if the majority of people who took out the loans and such (which are the real problem) had know what they were getting into and been warned about the dangers then most of this woe could have been avoided

insted you had tons of young and middle aged couple getting in to tloans they couldnt afford or need and now when its time to pay back what is owed they dont have teh funds


its also the banks fault for putting so much money out there and not being sure they could recover it...

sure mr smith is it..yes lets see, your not currently employed, you don't have any equity, your business model is a few post it notes, you reference your mother....yep every thing seems to be in order...here is your loan for 145k

next...ya know what i have to be on the golf course in a few where is that approved stamp ...ahh here we go

*approved* *approved* *approved* *approved* *approved*
*approved* *approved* *approved* *approved* *approved*
*approved* *approved* *approved* *approved* *approved*
*approved* *approved* *approved* *approved* *approved*
*approved* *approved* *approved* *approved* *approved*
*approved* *approved* *approved* *approved* *approved*
*approved* *approved* *approved* *approved* *approved*
*approved* *approved* *approved* *approved* *approved*


well you get the idea, but go on blame a minority of people

Theoretically, the free market would have corrected that.  However, the theory behind the free market fixing itself has been proven wrong.  What we need is government intervention.

If your doctor told you had a disease and you should take a pill, would you?  Most people dont have the ability to make a decision for themselves, so they have to trust the doctor.  To prevent the doctor from taking advantage of the patient, government regulation is required.

Same goes for loans.  People who dont understand financing have to trust their lender/financial advisor, who can easily convince them to take a certain plan.  Just like it doesnt take much for a doctor to convince you to take a presicription.  Likewise, government regulation is needed to prevent lenders/financial advisors from taking advantage of people.

And noone has to rewrite economic thought in the process, its already understood that assymentry in information is reason for government intervention.

Damn Democrats.

>_