Originally Posted by chiefzilla1501
Too funny. So the crash had a lot more to do with us paying too much for social security and welfare, and had nothing to do with private sector financial institutions going unregulated as they gambled literally trillions of dollars in risky derivatives and as horrendous lending practices destroyed the mortgage market.
You keep harping on this "unregulation" and I've discussed it with you already by saying the previous tried and true regulation was simply replaced with new and different regulations. So it could not have been regulation itself.
Anyone claiming government spending was the primary reason for the crash or even close... it's just laughable. If anything, government didn't do enough, and the motives for not doing anything suck.
No the regulators were asleep not doing their jobs and I didn't say govt spending...I responded to "more govt." It was govt that decided to replace previous regulations with new and untried regulations. That was adding more govt. That was govt activism.
The root of the problem was Federal Reserve monetary policy which leads to such speculation in markets because the extra money/credit they create has to be spent somewhere. This creates overheated areas called cones. Who created the Federal Reserve? It was created at the start of the BIG govt era. Hence, more govt is still the underlying root of the problem. Especially one that is in bed with banks and financial institutions because guess who bailed them out which created moral hazard? More govt.
Before you read the “Outside The Lines” report, consider this:
Taping the opposing team’s sideline still isn’t banned; only taping the opposing team from the sideline is illegal.
Also remember this:
Taping the opposing team from the sideline wasn’t banned until 2006, yet the report cites examples as far back as 2000. ~NESN