[arthurus]

I believe the coercing of the banks to make uncollectable loans set off the tsunami of greed. CEOs understood that their banks, etc. could not survive the government mortgage rules and must fail so they, in their cynical wisdom, decided to grab as much as they could, first from the borrowers, then from the government. I believe a lot of that bailout money has been converted to gold now safely in vaults in Cayman Islands and Luxembourg and other secure places. The "bubble" had to collapse. The government set the conditions for it, the bankers knew it and shoveled out as much as they could before it all fell down.

The bankers did not cause it but they ran with it. The politicians and probably Soros triggered it to destroy the Bush Presidency and elect Hussein. The scope of the looting was magnified by the fact that all the government finance men and "economists" were out of one company, Goldman-Sachs.

It was/is a frantic looting of the shareholders and then the Treasury, by the bankers and the politicians and the bureaucrats- the "regulators."

Capitalism has, indeed failed, because it made the society rich enough that it could afford to support its intellectuals in idleness with time to think up great Utopian schemes and support great masses of "poor" to vote for all their schemes.

[mrmeangenes]

Sorry, but I can’t see Mr. Bush as a “victim” in this mess.

In 2002 (not sure of exact date)he told a cheering Congress,and an approving Public, he wanted to extend the benefits of home ownership to people previously considered “less qualified”. (No, I can’t cite, as I’m doing this from aging memory.)

His “benefit” was not money, but acclaim : something I suspect he wanted badly (typical pol in that respect.)