Quote:
Originally Posted by Adept1
Well darn I thought it was all the "worthless paper" that eventually permeated the entire market place that caused the problem. Funny, credit unions and most "regular banks" are just not participating in this debacle.
ALL experts agree that the root problem was government interfering and FORCING lending institutions to lend to bad risks and then Mac & mae buying up 70% of the worthless mortgages(under a presumptive government guarantee) bundling them and SELLING them to all of the institutions that are now failing due to worthless paper.
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No they don't. All Fox propagandists try to force that theory. There are many things at work here, but the basis of the helter skelter techniques these banks used was that they were allowed to merge with trading and insurance companies. That lead to the downfall of the American economy like similar loop holes lead to the last depression. We fixed it, then along came greedy gut and unfixed it so his friends and fluck buddies could make a mint.
And the insinuation that anything but Republican mismanagement lead to the Great Depression would laughable. If it wasn't so damned sad.