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To: Senator Goldwater
Unfortunately, there were a lot of banks (Bank of America and Citi being two of the more notorious examples) who were only too happy to go along with the government because they knew the taxpayers would share the risks, but not the profits, of their decision.

This is where she needs to bring the saner part of the economic populist wing on board.

11 posted on 09/23/2009 6:24:58 AM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: Vigilanteman

Investors, speculants and bankers are human with moral failings like greed and opportunism. If Government policies actively encourage them to behave risky and damaging, as did the lefty policies of the Democrats and RINOS forcing unsustainable mortgages for “social justice” and “affordable housing”, it is a failure of government. Plus at worst a failure of bankers ENCOURAGED by government.

The government business of Freddie Mac and Fannie Mae and a loose monetary polcy encouraged mistakes and wrong actions by the private sector.


13 posted on 09/23/2009 6:31:22 AM PDT by SolidWood (Sarah Palin: "Only dead fish go with the flow!")
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