Quote:
Originally Posted by Adak
Finance? Our entire melt down in the economy, was due to government interfering stupidly, with finance!
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Meanwhile, on Wall St., the ridiculous derivatives market, which is more gambling that anything in Las Vegas, was allowed to speculate with Billions of dollars, and subsequently sold, all around the world!
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Classic overregulation, huh. Big, bad government going around allowing Wall St. to speculate.
Quote:
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When I saw the loan applications for a home buyer, I was speechless at the obvious misrepresentations being made. But the gov't had a program to buy those loans, just that way, and you were in trouble if you failed to do so - so everyone got in line, and everyone made money.
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The government had a program to buy loans "just that way".
Banks lied in order to make their loans look "just that way".
Amazingly, the lies turned out not to be true.
If only there had been
less regulation, maybe they could have lied better.