Posted on 11/23/2012 7:20:52 PM PST by chessplayer
Government actions and government policy caused everything that you point to.
The financial mess was caused by the financial community trying to figure out what to do with bad loans which our own government FORCED into the system.
Some private sector banks handled this pressure wisely, some did not.
certainly there was a share of forced loans. nobody forced the government to give me a loan however. the amount they approved me for was outrageous. it was way over what we should have been able to pay. I was shocked. maybe we are just very conservative with our money but we bought a house valued at half what they approved. millions of other people got loans the same way. approved by banks with the bank speculating the home value would go up. government involvement aside the banks throughout all the lending rules and are a big part of the problem we face today. it is simply too convenient to your political argument to only blame the government.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.