Ummm, you do know that they were NOT competing in a free market, that they were encouraged, if not forced, to give extremley high risk loans by the government? Sure, greed took over and things got completely out of control but this whole mess was the brainchild of Carter, supported and intensified by Clinton and ignored by Bush.
As has been repeated on this site many times… the blame can be spread to almost all those involved.
The truely scary part of this is that we have Dodd and Frank at the wheel trying to fix a problem they had a big part in allowing to continue and get worse. They could care less about “the people”, they are trying to save thier own asses and those of thier pals at Freddie and Fannie.
What this country needs is to clean house and through future elections replace ALL in congress. It is unlikely that there is one honest and uncorrupted person left on BOTH sides.
