re: OT-: Let's Talk Socialism

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Left unregulated the country becomes an oligarchy which one could make a case is what America is right now

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I agree with you.

Take the housing crisis for example.

First, politicians should have never created a clearinghouse for shitty mortgages and encourage shitty lending.

Second, banks should’ve never been able to sell their loans and divorce themselves from taking shitty risks.

Third, Wall Street should’ve never been allowed to buy these shitty loans and bundle them into shitty securities without the regulators knowing what was in them and the risk they involved

Fourth, the Fed should’ve never manipulated money rates to where banks didn’t have to worry about their actual return on their high risk loans.

Fifth, the govt should’ve never bailed out everyone that was involved with peddling these shitty loans. Instead they should’ve backed depositors whose banks played with their money.

Sixth, the execs and BODs of everyone involved should’ve been liable for the money everyone lost due to this whole fiasco.

BUT people that couldn’t pay we’re getting houses and everyone in the chain (ie Oligarchs) were making money so we allowed this house of cards to almost bankrupt our entire system and bailed out the offenders.