Originally Posted by BucEyedPea
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.
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.
To say that the crisis was cause only by government is a typical right-wing conspiracy theory.
I don't like regulation. Too much regulation in this case likely created behaviors that contributed to the crisis. But in none of what you said above did you ever lay accountability at the feet of the private sector employees and business who knew what they were doing, and purposely chose to unethically push bad mortgage loans and to take on an extraordinary amount of risk in derivatives in a greed grab.
The idea that this is purely about bad government, and not also about bad people who purposely made bad decisions, is oversimplifying.