re: OT-: Let's Talk Socialism

quote:

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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.

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The market makes clearinghouses. Not politicians.

And 2-4 are still happening today.
The fed shouldn't have bailed out anyone. None of it. Let it burn and a healthier company will buy up the pieces. It is the way that it is supposed to work.

And fraud is illegal. Many banker should have gone to jail.