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Big Banks and D.C. Politicians Doing the EXACT SAME THINGS Which Caused the Financial Crisis In the First Place
Big Banks and D.C. Politicians Doing the EXACT SAME THINGS Which Caused the Financial Crisis In the First Place 04/05/2013
"Liberals blame deregulation and reckless Wall Street greed for the economic crisis.
Conservatives blame bad government policy.
Now, the D.C. politicians are doing the exact same things which got us into the crisis in the first place. For example, they are:
Pushing banks to make home loans to people with weaker credit (sound familiar?)
Deregulating and even promoting insane levels of derivatives (ring a bell?)
Letting white collar criminals know that they have free rein to do whatever they want, and they won't be prosecuted (once again)
Letting the giant banks get bigger and bigger (the government helped them get big in the first place)
Bailing out the banks with hundreds of billions of dollars a year (which creates dangerous "moral hazard" - just like before the 2007 crisis - and once again destroys sovereign nations)
Indeed, crony capitalism has gotten worse than ever (even though heroes have been fighting it for 100 years)
Enacting policies which suck money out of the U.S. economy ... and ship it abroad (as they've been doing for 50-plus years)
Quote: Mechanicos wrote in post #2The Money Masters. Three and a half hour documentary that aired on BBC about why we have our economy problems today.
Thank you for posting.
Orthodoxy SUCKS.
"Rightful liberty is unobstructed action according to our will within limits drawn around us by the equal rights of others. I do not add 'within the limits of the law' because law is often but the tyrant's will, and always so when it violates the rights of the individual." Thomas Jefferson