12-19-2007, 06:21 PM
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Analyst
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Join Date: Mar 2004
Location: on your shoulder
Posts: 2,018
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Quote:
Originally Posted by Blade";p="
Quote:
Originally Posted by Zoe";p="
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Originally Posted by Blade";p="
If you google that phrase, you'll find all kinds of chowder heads saying this proves "capitalism doesn't work". Actually, it proves how well it works. What we're seeing now (except for the ill-conceived government bailout) is capitalism efficiently removing from the market lenders who make very risky loans, and borrowers who take out loans they can't pay. Problem? No problem.
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There are no "final words" on this mess. But I don't know of anyone who says that "capitalism doesn't work". Capitalism works just fine as long as it's corruption and enthusiasms are contained- hence regulation.
It did not need to happen. Greenspan could have exerted restrictions on lending institutions in advance of a crisis. He was warned. Instead Bernanke must regulate/ offer assistance by shutting the stall door after the horse is gone. It proves, once again, that people are greedy b*st*rds and regulation IS necessary. If you think that the only people who will suffer from the subprime debacle are banks and foolish borrowers, then all I can say is, enjoy your delusions while you can. You are already poorer, guess you have not noticed yet.? I will point out the error of your ways in the months to come. |
Let's see if I can scope this down for you.....
You appear to be saying that the fallout from the "mortgage crisis" affects people who weren't involved. The economy was stimulated by an illegitimate housing boom that shouldn't have taken place. Now the market is restoring the economy back to where it should be. The american economy can grow, if that's what is desired, by living within our means, cutting bureaucracy and regulation, rewarding merit, lowering taxes, stopping illegal immigration, and in general letting lose the productive forces of society. And you should note that the TITANIC greedy b*st*rds in our society are certainly government, at all levels. |
There are not many repossessions in "contractor valley" in Virginia! 
go figure
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