Quote:
Originally Posted by saden1
SS33, read your post, read mine and then read the first paragraph of the article you posted.
You can bash the gov for the lack of regulation and oversight and I won't defend that but I can not accept "pressure/programs" line. Never!
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The pressure came from the punch drunk builders. Building houses creates wealth. They built too many houses and tried to stave off the inevitable housing price decline by trying their best to put warm bodies in those houses. Banks who had invested in the over build mode had to try to get people in those houses. The crisis was caused by over bulding. Banks were throwing out cash to builders left and right. All these 500,000 dollar condos sitting empty. Don't sound like government hand out loans to me, or socialism. See this is the problem with the free marlet religion. They used to have a mantra "housing prices will always increase", and they believed this to be fact. So, if housing prices will always increase, then keep building. All the other mistakes else are just false conslusions derived from this false premise. Like always, the conservative tactic is to blame someone else stick the blame to someone. I made a mistake but it wasn't my mistake you didn't listen to me, totally. Totally submit to my philosophy next time and I won't make those mistakes.