On Thu, 2 Oct 2008 23:27:17 -0500, "OK Don" <[EMAIL PROTECTED]> said: > There is the minor discrepancy where he's decrying the lack of free > market principles, when it's those uncontrolled free markets that got > us into this mess. Just letting those good ole boys on Wall Street and > in those banking houses do what ever they wanted to let the greed run > rampant, which let the brokers sell mortgages to anyone who could make > an X on a piece of paper, sometimes by lying to them, others by > appealing to the customers greed. > You can't have both uncontrolled greed and a stable economy. It's > never worked before, why do the neocons think it will now? Greed.
Actually it was government policy that caused the giving of mortgages to a lot of people who previously would never have had a prayer of qualifying for one. The banks would not have taken risks like that on their own without Freddie/Fannie being willing to buy those mortgages. Absent that, we would not have had a such a bubble in real-estate, which then burst as all bubbles eventually do, which then caused all those leveraged positions in derivative mortgage-backed securities to bankrupt those greedy financial firms. Allan -- 1983 300D (for sale) _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
