Originally Posted by DementedLogic
Without the federal reserve manipulating interest rates, the GSEs, and the community reinvestment act, the crisis would not have happened. All of those are government interventions into the marketplace. The private investors would not have been able to do what they did, without government.
Exactly. Manipulating interests rates, making them too low, is also price fixing. Price controls from a central bank covers two planks of socialism. While it is true there was greed unleashed, created by perverse incentives, it was done for housing socialism. Funny how the richies connected to govt power get richer, while the left cries for more of the same.
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