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.
“The power to declare war, including the power of judging the causes of war, is fully and exclusively vested in the legislature.” ~ James Madison, Father of the Constitution
“We do not believe in aggressive or preventive war. Such war is the weapon of dictators, not of free democratic countries like the United States.”~ Truman, Sept 1, 1950