Yes, I'm afraid it is
posted by Walker at 11:37 AM
Wednesday, July 23, 2008
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2 Comments:
Cuz the government's deciding to get PR by bailing out banks, rather than let the market take it's course. Of course, changing banking regulations to allow banks to make these "predatory" loans in order to make banks less "discriminatory", and allowing Fannie Mae and Freddie Mac to underwrite questionable loans is a big part of why all this happened in the first place.
If the government has just kept the laws in place that had been working well for decades, we wouldn't be in this mess now.
Yet, of course, it is the money-earning American tax payer that will be footing the bill. As usual.
now that is what I wanted to say.
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