Posted on 01/29/2009 10:24:20 PM PST by Tempest
I’m laughing even though I should be crying because of the truth behind it all.
Dude you are such a tool. Stop reguigitating that crap and do some research. It’s not all the governments fault the incentives and commission made the banks and brokerages plenty self-motivated.
I see so government forced the banks into begging for bailouts... How deceptively manipulative!!!
If you remember in the first few days of Paulsons Panic, he called in to a basement room of the Treasury the nations 8 or so largest banks, and said they could not leave the room unless they took the bailout money. This is of course kidnapping, and forced contracts.
Just like the Mafia.
Once the largest banks were compelled into taking the money, every competitive bank nearly had to to make its books look as good, or not as bad, depending on how you look at it.
I didn't say it was ALL the Government's fault. I said it wasn't all the Banks' fault.
The government provided the environment for the banks to have a field day, and they were like kids in a candy store, I agree.
But if the Government hadn't mandated it, and underwritten it, it wouldn't have happened.
They are both to blame.
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