[DavidFarrar]

No, not at all.

But what happened was, the banking regulations were relaxed, allowing banks to give loans to people who were not financially qualified, because A, they knew the government would bail them out, and B, as a consequence, they were now free to make money without risk.

So let me ask you, who shares the major responsibility here for the banks overextending themselves, the banks,their clients, or Congress?

Don’t forget now, it was Bush who supported the first TARP over us fiscal conservatives’ objection.

ex animo
davidfarrar

[stylin_geek]

You still refuse to recognize any personal responsibility when it comes to buying a house. Lending rules can be relaxed all you want, if there are not buyers willing to purchase, the transaction will not happen.

Again, lenders wrote risky loans to unqualified borrowers, because Freddie and Fannie, two government organizations, were purchasing those loans.

Government completely distorted the market and buyers were willing accomplices.

[Ramius]

So let me ask you, who shares the major responsibility here for the banks overextending themselves, the banks,their clients, or Congress?

You hopefully know of course that it was Congress that caused the subprime meltdown.

I don't know if you'll stick around very long or not, but you are wrong about so many things you should at least keep lurking after your account is banned. You have a long ways to go before you actually understand capitalism.