Originally Posted by sperbonzo

the government intervention in taking away the risk, through government funded fannie and freddie, that would ordinarily keep lenders from making millions of bad loans in the first place, is a very long one, but note that it was THE GOVERNMENT that bailed them out, with your money. Where are the people who are wishing to do the lynching in washington DC? If the government hadn't offered to buy all that bad paper, through Fannir and Freddie, then banks would have had to carry the risk themselves. If the government had not bailed them out, then the banks that had been foolish enough to carry that much risk on their books would have ceased to exist, and the entire banking industry would now be stronger for it! Messing with a complex "ecosystem", like the free market, always ends up with disasterous unforseen consequences.



Those protestors should be in DC. Only there do officials have the power to change the rules of a game, and then use force to make people comply and do business with them. the other silliness is just juvenile class warfare crap.



.