[quote=gandalf]In the past 15 years or so, large banks and financial institutions ‘created’ and then lost enormous, titanic sums of money in risky, leveraged and often fraudulent financial dealings…..
These ‘Banksters’ took our money, then used it to place bogus, leveraged bets in a giant global financial casino, until the music stopped playing, at which point they LOST our money. That’s the fucking issue. That’s why there’s a public bailout, because Citi, Chase, Goldman and the others lost our money. They are at the center of the universe in terms of blame. Joe Homeowner is a drop in the bucket.[/quote]
The banks got our money through taxpayers. They didn’t lose money in the end. The taxpayers did. There are regulations in effect. They are not ENFORCED. The fraud has been rampant and nothing has been done about it, yet the laws exist.
[quote=sdrealtor]It started much longer thna 15 years ago. It started in the Reagan Era where “greed became good”. Just like this ship turns slowly, the political actions of today are felt many years in the future. Most of our current economic issues are rooted firmly in the Reagan Era.[/quote]
Very true.
[quote=SD Realtor]The problem with this is that it is to simple and it scares people. It promotes saving and responsibility for homeownership which is unheard of. [/quote]
That’s how it was done back in the day. It can be done. It’s possible. It requires less consumerism and saving. A concept that is lost, particularly to today’s generation. Heck, even older generations have adapted to today’s ways.
