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Originally Posted by megatanman No,it should not.Not if it destroys our economy as a result.
Free markets have only proven one thing....If one had to chose between greed and responsibility.Greed will prevail every time.
We have proven to our government that we cannot function as self regulators. |
Greed grows the economy. Greed builds wealth. Free markets work.
Contrived markets and managed economies always fail.
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Frank and Dodd have blood on their hands because they forced Fannie and Freddie to make mortgages for people who were a high credit risk and couldn't afford them, in order to encourage low-income home ownership.
This bad mortgage mess didn't happen due to deregulation. It happened because Frank and Dodd and others made it happen. It happened because they ignored warnings that this was going to be a financial problem. It happened because they were paid a lot of money by Fannie and Freddie to let it happen.
Dodd and Frank can not be trusted to fix this. They should be hung.
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Did you miss this part? The mortgage crisis wasn't from deregulation. Congress decided they could ignore basic economic principles and get away with making bad mortgages to people that could never afford to pay them.
Reward is necessary for capital to be put at risk. Those with the money have to be encouraged to invest their money. Reward offsets the risk. Failure must be allowed. The free market and capitalism always works.