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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (145184)	11/3/2008 3:03:38 PM
From: geode00	Read Replies (2) \| Respond to of 173976

It's clear that you do not understand the basic functions of risk in the marketplace. I am not surprised as right wingers have a general inability to think properly. Ideology and fantasy always trumps facts for you guys. The homeowners lose everything including their credit rating which makes it difficult even to rent. On the other hand, those who gained the fees from their side of the transactions, the professionals, have securitized the loan and are out of the risk problem. This leads to excessive risk-taking since the risk is not borne by the people making the loan. In fact, that risk is now being borne by the US taxpayer. You don't really understand this do you? "The cost of the program, the amount resources are drained from people who are productive and prudent and go to people who where imprudent, the moral hazard where people are encouraged to take imprudent risks because if the risk pans out they make out great and if it doesn't they get bailed out." Try that again, this time in English. Iraq is indeed a subsidy to oil companies American and others. The war was meant to explore (not much necessary), develop and profit from Iraq's easy to access store of oil. There were, of course, other motives including keeping Bush in office and starting the Republikan 100 year majority fantasy machine. War also helps to harm civil liberties and keeps defense contractors very fat and happy. If, however, Iraq had no oil there would be no Republikan occupation.