Nov 5th - send a message to the banks
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The bottom line is that the government has to much involvement.
Last edited by $hane; Oct 28, 2011 at 08:12 AM.
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Too much or too little involvement depending on how you look at it. The government could have set policies for the banks to follow to avoide this. Instead they set policies to promote it. In my eyes pretty much everyone involved in this mess is at fault. Arguing about who is at fault is useless because everyone ****ed up. We just need to agree that everyone ****ed up and finally do something about it.
This isn't about too much or too little government, it's about making stupid decisions. Stupid decisions can just as easily be made by corporations and banks as by the government. In this case they all made stupid decisions and we all suffer as a result.
-- Ed
This isn't about too much or too little government, it's about making stupid decisions. Stupid decisions can just as easily be made by corporations and banks as by the government. In this case they all made stupid decisions and we all suffer as a result.
-- Ed
Last edited by EQ Tuning; Oct 28, 2011 at 08:26 AM.
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Being from Canada, I have a somewhat biased point of view on this subject... The Banks in Canada are heavily regulated at the federal level, therefore there are certain guidelines they must follow in order to loan out money... Some will say this is too much government, but at the same time, there was no Sub-prime mortgage crisis in Canada...
I don't have a problem in Banks being regulated by government more...
I don't have a problem in Banks being regulated by government more...
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Too much or too little involvement depending on how you look at it. The government could have set policies for the banks to follow to avoide this. Instead they set policies to promote it. In my eyes pretty much everyone involved in this mess is at fault. Arguing about who is at fault is useless because everyone ****ed up. We just need to agree that everyone ****ed up and finally do something about it.
This isn't about too much or too little government, it's about making stupid decisions. Stupid decisions can just as easily be made by corporations and banks as by the government. In this case they all made stupid decisions and we all suffer as a result.
-- Ed
This isn't about too much or too little government, it's about making stupid decisions. Stupid decisions can just as easily be made by corporations and banks as by the government. In this case they all made stupid decisions and we all suffer as a result.
-- Ed
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Of course not! If I had to assume most people chose a bank based on the before mentioned criteria. I would believe most people would have already ended up at a credit union, the advantages with a CU were always there. Only now when big banks are starting to add fee's the value of the smaller banks and credit unions become even more appealing.
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On a different topic Netflix wanted to add a new charge/fee that didn't go so well and they're regretting it big time. In the end, if big banks lose customers they only have themselves to blame.
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Too much or too little involvement depending on how you look at it. The government could have set policies for the banks to follow to avoide this. Instead they set policies to promote it. In my eyes pretty much everyone involved in this mess is at fault. Arguing about who is at fault is useless because everyone ****ed up. We just need to agree that everyone ****ed up and finally do something about it.
This isn't about too much or too little government, it's about making stupid decisions. Stupid decisions can just as easily be made by corporations and banks as by the government. In this case they all made stupid decisions and we all suffer as a result.
-- Ed
This isn't about too much or too little government, it's about making stupid decisions. Stupid decisions can just as easily be made by corporations and banks as by the government. In this case they all made stupid decisions and we all suffer as a result.
-- Ed
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SUP ED! I totally agree all parties involved banks, government, and person's who signed for the loans are at fault. I wanted to bring to attention in terms of the damage done. banks got bailed out, nothing changed with government policy, and the people who lost their homes are homeless. If all are at fault equally it should hurt all, but it doesn't seem to be the case.
-- Ed
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The ultimate cause of the crash was lack of governmental regulation
The banks made stupid business decisions for short term gain due to a lack of oversight.
The banks made stupid business decisions for short term gain due to a lack of oversight.
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Who is responsible?
.gov for telling private banks wtf to do
.banks for not being truthful to the people and telling the .gov to stfu
.People for not knowing basic math and not having a brain.
All of the above.
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Where did the Gov tell banks to make insolvent loans? I know of a couple of speeches where "the dream of home ownership" were mentioned. But no formal instructions
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obama lawyer freddie mac <- Cut and paste into your favorite search engine.
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Dude that was in 1994 Obama had no authority at that point.
The crash happened months before Obama was elected, you can't blame this on him
The crash happened months before Obama was elected, you can't blame this on him
Last edited by Lowend; Oct 28, 2011 at 03:47 PM.
This starts from the top, the top is the Government and Fed Reserve. If banks/businesses and other people were borrowing money knowing they were making huge cash profits because of the low interest rate and guaranteed coverage, anyone would do the same.
Banks do their thing by trying to make the most money possible. If that means exploiting something then so be it, it wasn't illegal. However, the Fed or the government could set the right limitations so they couldn't do this. This did not happen, banks, like any normal person who has any idea about economics decided to cash in as much as they can. That's a normal human reaction... kinda like leaving dog treats out on the ground, it's there, dogs eat it, not regulated. So now the dog is obese, but was bailed out. The only person to blame is the owner, in this instance the Fed Reserve and Government for keeping too low of interest rates AND guarantee'ing crap with our cash.
Banks do their thing by trying to make the most money possible. If that means exploiting something then so be it, it wasn't illegal. However, the Fed or the government could set the right limitations so they couldn't do this. This did not happen, banks, like any normal person who has any idea about economics decided to cash in as much as they can. That's a normal human reaction... kinda like leaving dog treats out on the ground, it's there, dogs eat it, not regulated. So now the dog is obese, but was bailed out. The only person to blame is the owner, in this instance the Fed Reserve and Government for keeping too low of interest rates AND guarantee'ing crap with our cash.
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He was merely a cog in the machine that ****ed every thing up; whiners sued, gov't gave in, banks made loans, a few made an *** load of $$, and we paid for it.
It takes time for the Financial Gears to ramp up as well as slow down; nothing causes success/failure instantaneously.
