I know, but I keep fighting on. I doubt it will do much good, but here and there, a freeper may actually wake up to the Wall Street nonsense. We can “not loan” to poor folks all day long and it isn’t going to fix the financial problems. Sooner or later, even Wall Street is going to have to pay the piper. They will run out of people t blame.
parsy, who hopes to rush that day up some
Its not Wall Street nonsense it Big Government Failure. Wall St. didn’t change, over time corrupt politicians failed to do their job. They took money from Wall Street, and bought the votes of poor people by forcing banks to loan money to them.
Given the large number of contributory factors — the Fed’s low interest rates, the Community Reinvestment Act, Fannie and Freddie’s actions, Basel I, the Recourse Rule, and Basel II — it has been said that the financial crisis was a perfect storm of regulatory error.
http://www.cato.org/pubs/policy_report/v32n1/cpr32n1-1.html
It might help your arguement if you could explain in detail how the repeal of Glass Steagle led to Fannie Mae and Freddie Mac having 400 billion and counting in losses.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a2Z5GnTAPcuo
Sounds to me like another, possibly catastrophic Big Government failure.