Quote:
Originally Posted by sperbonzo
You realize that the same party that is yelling about deregulation was overseeing Fannie and freddie and eagerly having them buy up high risk loans and totally screw up the the normal restrictions of risk management
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I realize both parties are guilty of deregulation, laws, etc that have allowed multiple types of bank, financial, and market manipulations to take place, including lack of accountability practices, and a ton of other crap that helped create the problems of today.
F&F are simply the result of past deregulations that allowed them to back and absorb loans like they did (and other crap), then fail, then basically be absorbed by the Gov, basically making them a hidden nationalized banking structure.
This started roughly 30 years ago, maybe before that I'm not sure... but I do know we can all name and spot various things that helped setup and create the issues of today, basically meaning - this didn't just happen.