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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (540670)	1/4/2010 4:21:19 PM
From: jlallen	1 Recommendation Respond to of 1576882

Whoa....that kind of post is WAY over ted's head....you need to use real small words....

To: TimF who wrote (540670)	1/4/2010 11:33:45 PM
From: tejek	Read Replies (1) \| Respond to of 1576882

The tax cuts and lack of the enforcement of gov't regs is what lead to the fiancial crisis. Nonsense. Tax cuts had nothing to do with it, the idea that slightly lower taxes in the US would lead to a world wide financial crisis and recession is ridiculous. Tax cuts helped fuel the debt crisis and reduced the US's growth potential. The Economic Panic of 2008 had several causes, two of which were the excessive debt and lack of gov't enforcement of banking and real estate regulations. You know.....your free market BS. As for lack of enforcement, there was no great downturn in enforcement. Certain relatively new types of activity didn't have new regulations extended to them, but that's not deregulation, or lack of enforcement in regulation, and it also wasn't the main way issues of regulation contributed to the problem. Regulations, combined with political pressure and threats, and lawsuits contributed to unsafe lending, and to lenders not holding the loans themselves but passing them off to be securitized. The government gave favorable treatment to such loans in terms of reserve requirements over loans that where not cut up and recombined Keep living in your ivory tower, Tim. Yes, there was a lack of enforcement. I was in real estate in the 90s. The crap that regularly went on under Bush was rare in the 90s even in LA where there are more slimeballs than normal. Free market ideologues took over that administration and it was party time. You can pretend all you want but what you are in denial over is a part of history. History will not forget even as you hope that it will.