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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: RMF who wrote (44338)	7/26/2010 11:47:33 AM
From: TimF	Read Replies (1) \| Respond to of 71588

The fact of the matter is that "deregulation" put us in this mess. Utter nonsense. The truth is regulation kept increasing. When our government allowed all these "Liar Loans" to go out it set everything up for the crash we are now suffering from. It has nothing to do with deregulation, and little to do with government "allowing" anything. "Liar loans" are loans made with some important information not thoroughly (or in some cases at all) supported by documentation. That's a matter of private business decisions as to what level of documentation they will require before giving out a loan. Trying to regulate down to that level of detail is at least as crazy as the liar loan practice was.