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Politics : View from the Center and Left

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To: JohnM who wrote (127175)	12/15/2009 11:26:10 AM
From: Steve Lokness	Read Replies (1) of 540852

I don't agree. I think the structural regulation stuff was fundamentally screwed up I completely agree. Also screwed up was; the greed of those using their homes as an ATM machine, and the dishonest cozy relationship between bankers and appraisers, and perverse tax incentives towards on home ownership, and insane incentives given to big money players in securitization trading, and the new trend to sell mortgages from one bank to another. But none of these things would have been possible or incentivized without big big money. This is important to me John, because if Krugman has his way we will just go into another boom. He wants us to repeat the same mistake that took us into the housing boom.

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