Quote:
Originally Posted by TracyCoxx
Did you read the part I wrote in parenthesis? Here, let me reprint it for you.
Perhaps you don't know what RINO means. Republican In Name Only. As for your crack about regulation, the markets HAVE been regulated. It was government intervention that I was referring to above that forced banks to make loans to unqualified recipients. So much for that idea.
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You are partially right. Both Republican and Democrats supported easy loans to low income people. Unfortunately, crucial oversite regulations essential to keep the system from spinning out of control were ignored or removed. Greenspan and the rest of the free marketers had the naive view that markets would automatically regulate themselves. They didn't realize that a "free" market opens things up for the Madoff types.