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Politics : View from the Center and Left
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To: Dale Baker who wrote (40871)9/1/2007 11:00:52 PM
From: Sam   of 541274
 
The market was stupid to let this bubble happen.

To say that it was "the market" that "let this bubble happen" obscures the real culprits--the executives and mortgage brokers who wanted to do deals that made no sense because they made their money up front and off-loaded the risk onto other people. And the supposed "regulators" under this administration who didn't do anything to curb the practice.

And they want to privatize social security. What a swell idea, lol.

EDIT: Ok, we can add the people who took out loans they shouldn't have taken. But for the most part, the "regulators" and the brokers knew what they were doing, while I doubt that many of the debtors had a clue that they were doing something very risky. And even those who did shouldn't have been permitted to do it, IMHO, because it affects us all when it is done by the number of people who did it.
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