Quote:
Originally Posted by kknudson
If they had kept requirements at 20% down, reasonable - verifiable income requirements it would have never occured. Speculators would not have had the opurtunity to create the bubble.
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Exactly government deregulation ruined a perfectly good market, exactly what has been going on with everything traded on Wall Street for the last 20 years.
Were going to go back to the cycles that we had during the turn of the last century, a few years of boom followed by deep hard busts. Which culminated in the Great Depression, well there was another at the end of the 19th century too. The government put all these regulations in place and everything hummed along just dandy until the guys on Wall Street bought their way into power and started to throw them out 10-15 years ago. You have to remember whats good for the top .01% isn't really good for everyone else.
I mean if you were making $50m a month off this would you really care about stomping on some regular people who can't afford to fill their vehicles at $5 a gallon? You don't give a crap.
As it did 100 years ago at the height of the gilded age the pendulum is starting to swing a bit to far in favor of this new generation of robber barons. We need another Teddy Roosevelt to bust em up.