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

To: one_less who wrote (846116)	3/29/2015 3:45:31 PM
From: combjelly	Respond to of 1577945

Sure. It was a problem that was decades in the making. The ball got rolling under Reagan and his deregulation of the financial industry fetish. And there were plenty of Democrats who helped to keep the ball rolling. The whole financial industry colluded on it. They could extract fees at every step. With essentially no oversight, it became a giant party. Which the taxpayers had to clean up. Which was ok, the alternatives were pretty dire. But the second and third phase where the crooks got punished and the system got fixed so it never happens again in the same way, never happened. So we are doomed to repeat it. There is just too much money to be made. Which is why I push this so much. People like i-node have chosen a scapegoat for the Bellyflop. Since it had nothing to do with what happened, people like him are happy to make sure the actual problems don't get addressed and we get lined up for a similar disaster. Because the meltdown in real estate, while bad, was not what almost blew up the global economy. It was just the fuse. No, the problem is that the global financial system has become highly optimized at transferring wealth from the 99% to the 1%. It has been optimized to the point that even a small bobble in the Transport Belt of Wealth causes the whole system to choke and start to unravel. Since the Bellyflop, it has been rebuilt and optimized even more. When the next fuse ignites, and there are several to chose from, it might not be so easy to recover from...