Originally Posted By: Derid
The housing bubble was caused because the govt was underwriting hundreds of billions in bad loans via Freddia and Fannie, and HUD et al make it politically and regulatorily necessary to extend loans to bad borrowers. Gov't intervention made for many millions more buyers than there would have otherwise been, thus inflating housing prices. Govt backing of the bad loans let shady Wall St types repackage them as securities ( hey its a great investment, the gov't is backing it! ) and sell them.


You know I respect you Derid, but blaming Fannie and Freddie for Credit Default Swaps is just nuts!

Originally Posted By: Derid
For some reason , a lot of people do not like to look past the involvement of a few dirty capitalists. And yeah, in any society, even if the old Soviet Union, when gov't gave people a legal way to fleece people... there is ALWAYS someone willing to take up that task. Capitalism as a system is about competition and letting the free market set value.... which is what was NOT happening in regards to the housing market, hence its collapse. Look at Medicare and other gov't intervention, and you will see that Health care costs are absurdly high not because of enough govt involvement but because of too much.


I hate it when people bring up the Soviet Union. I am in no way a communist. How can you say that Police and law enforcement are not needed and protection is not a right. How about defense by a fire department for damage and first response to injury? Well as soon as they help you you are on your own in your opinion. That to me is cruel. If you are a legal citizen of this country, you should be safe and have health care.

Getting everyone covered will reduce costs. No more expensive emergency room health care that NOONE PAYS FOR thereby jacking up the price for the honest folks like me. Preventative medicine goes a long way.

How about enforcing immigration law and policy so I DON'T HAVE TO PAY FOR ILLEGAL ALIENS HEALTH AND EDUCATION!

You guys just don't make sense. I cant wait until you turn 65.

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