Thread: General Politics Why do people like Chris Christie?
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Old 02-10-2013, 10:26 PM   #107
DementedLogic DementedLogic is offline
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Join Date: Aug 2005
Location: Seattle, WA
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Quote:
Originally Posted by chiefzilla1501 View Post
It is a conspiracy theory because you talk in such absolutes. As if individuals should not take accountability for their actions, but rather they were forced to do the wildly unethical things they did to comply with excessive regulation.

You don't create a crisis like this without multiple things going wrong creating a perfect storm. This is as much about free market participants acting unethically and unchecked as it is about market intervention. There were too many players within the system trying to game the system. And let's not act like they did this all because they were forced to gamble. They did it for self interest. This is about bad government AND bad people within the market. To say government intervention was the root cause of the problem excuses the problematic individuals within the system.
The crisis would not have happened without government intervention into the marketplace. That is no oversimplification, that is the truth. Without the massive bubble caused by the federal reserve, there is no crash. The private sector participants should have to take accountability for their actions, but the government intervened in that as well. Creating more regulations doesn't fix the problem, it hurts the businesses who didn't contribute to the crisis. As long as the federal reserve continues with keynesian monetary policy, there will be bubble formation. Those bubbles will burst, as all do.
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