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[quote user="henry6"] [quote user="greyhounds"]Once you admit that a dog is a dog, you can't get upset that it barks.  Once you realize that a "big business" corporation exists to increase its shareholders' wealth you can't get upset that it tries to do so.  If the dang government stays out of the way that corporation will have to serve the public in the best way possible in order to do that.  If the government involves itself the public will suffer. [/quote]How do you read the investment bankers and this mortgage crisis based on the government staying out of the way and the corporations serving the public?  Or did big business handle everything right and the people should lose thier homes and thier investments and the entire Wall Street dissolve?[/quote]The biggest lie we have ever been told is that the mortgage crisis is the fault of Wall Street or the private business sector, and that it was due to a lack of government regulation.  This is what actually happened: The government pressured lenders to make risky loans and then assumed that risk on behalf of the taxpayers.The pressure was based on the premise that minorities and low-income people were underrepresented in the arena of mortgage creation, and that the government interpreted that as discrimination.  That amounts to overregulation, not under-regulation as is widely charged.  Lenders naturally balked at the government pressure to make loans to under-qualified borrowers, so the government through their agencies of Freddie and Fannie, agreed to assume the risk for the loans that lenders created.  With that government pressure, coupled with that government guarantee co-signing the loans, the lenders threw caution to the wind and lent money to anybody.  Of course, the bad loans cannot be repaid, and the government does not have the money to cover their guarantee.  So they need a trillion dollars from the taxpayers.    The ones who actually caused this problem, along with most of the news media are now pointing their finger at Wall Street as a means of deflecting the blame.  Do you really think that if these blame shifters really thought Wall Street was to blame, that they would offer to bail them out?  If you look at who is pushing the bailout and who is dragging their feet, the ones pushing would be the last ones to bailout a greedy corporation.  No, the reason they are pushing for a bailout is because they know that they have a big problem, that they caused it, and that eventually everybody will figure that out.In the big picture, this was a way for the government activism to advance the affordable housing agenda, which is actually socialized housing whereby money is taken from those who have it and used to buy houses for people who don't have enough money to buy their own house.  Except, in this case, the agenda was snuck in the backdoor, under the radar, rather than being advanced in congress under the sunshine of public scrutiny.  The agenda was so well camouflaged, in fact, that the public has largely not yet figured it out even after the chickens have all come home to roost.  The public is being led to believe that we are now preventing a problem with the bailout.  But the problem is fully created, and is way beyond the point where it could have been prevented.  The bailout is the pain needed to fix the problem.  It may not fix the problem.  And it may even compound the problem.  We are in uncharted territory.
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