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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (428474)	10/20/2008 12:20:48 PM
From: TimF	Read Replies (1) of 1570477

You seem to absolve the private sector of any "unusually foolish action". How can talking about what might happen in the future amount to absolving anyone for anything? When in fact they were the ones that put us in the current dangerous situation. They played a role, but government played at least as big of role. Of course you could blame the government for a lack or regulation but i doubt you would go there. There are areas where more government regulation might have helped reduce the size of the problem. OTOH the actual regulation we did get mostly increased the size of the problem. Politicians of both parties celebrated and pushed expanding home ownership, and providing more and more incentives to own a home, and to get and to give loans. The regulations and laws that could have reduced the problem, never really had a chance of winning support from either party until it was to late for them to have their best effect. Instead for decades both parties (particularly the Democrats, but the Republicans where also in on it) kept adding distortions to the housing, mortgage, and mortgage backed securities market.

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