If Wall Street bankers did not act recklessly and spread toxic assets all over the financial system and made it unable to survive the financial meltdown, the US would not be broke and we would be able to afford to stick around to help Iraq. Ironically Bin Laden, AQ and other terrorist groups could not stop US power, it took politicians and bankers to achieve that result. Maybe the US needs to pullback, concentrate on eliminating the structural weaknesses and threats that our current crony capitalism and Wall Street poses to our financial well being before we are in position financially to foray beyond our shores again. We have no one to blame except ourselves as citizens and voters for not paying attention and letting the few on Wall Street lobby Congress to eliminate regs, and pull string in fed agencies to ignore existing regs to act recklessly to the point of threatening the world economy.
How about putting the blame where it belongs-—Frank-Dodd for the financial crisis...No Reinvestment Act, no derivatives of housing assests.
that is what the Wall St demonstrators still don’t get...and guess most Americans don’t get because we just go along with this “Bad Wall St” mantra. Fine, clean up Wall St, but lets put the real blame where it beongs.
There's a bit more to it than that. On top of the clearly toxic assets, the USA left itself exposed to the European Central Bank and its continual raising of interest rates, which made money flow out of the USA and into that bank specifically (the other banks in Europe couldn't even withstand it). And on top of that, the liberal politicians have no will to fight a war that they clearly know has to be fought, because even they cannot ignore forever what our intelligence agencies tell them, though they'll keep trying to the bitter end (and that'll make such an end more bitter rather than less).
If Wall Street bankers did not act recklessly and spread toxic assets all over the financial system and made it unable to survive the financial meltdown, the US would not be broke and we would be able to afford to stick around to help Iraq
That'll play into our enemies' hands. It already has, too. Crony "capitalism", as people call it (it's not really a form of capitalism at all), stretches far beyond the US' shores and truly is globalized; right now, the only ones that can wield significant control over it are the USA and the European Union, and the USA is actually relinquishing control over it voluntarily, which is folly.
Maybe the US needs to pullback, concentrate on eliminating the structural weaknesses and threats that our current crony capitalism and Wall Street poses to our financial well being before we are in position financially to foray beyond our shores again