In hindsight, who is most to blame for the Financial Crisis?

[briansd1]

[quote=poorgradstudent]
This is what makes it so frustrating for the average american. There’s no easy scapegoat. It’s easy to paint your own personal politics onto it. Republicans can blame Fannie, Freddie, the Democrats and poor people. Democrats can blame Bush, the Big Banks, Republicans, and individual greed. The truth is a lot of people screwed up.[/quote]

I agree.

But it’s the job of government and the Federal Reserve to create and enforce rules of engagement so as to avoid a free for all.

That why I blame the Federal Reserve and Allan Greenspan the most. Not only were his hands invisible but Greenspan actually fanned the flames.

Rich is right in that if there’s any justice, Greenspan will live to see his reputation in tatters.

[dbapig]

[quote=poorgradstudent]The truth is a lot of people screwed up.[/quote]

Actually a lot of people benefited from this screw up too. Like the bankers, loan brokers with high school diploma that earned half million a year, speculators etc etc.

[dbapig]

[quote=poorgradstudent]The truth is a lot of people screwed up.[/quote]

Actually a lot of people benefited from this screw up too. Like the bankers, loan brokers with high school diploma that earned half million a year, speculators etc etc.

[dbapig]

[quote=poorgradstudent]The truth is a lot of people screwed up.[/quote]

Actually a lot of people benefited from this screw up too. Like the bankers, loan brokers with high school diploma that earned half million a year, speculators etc etc.

[dbapig]

[quote=poorgradstudent]The truth is a lot of people screwed up.[/quote]

Actually a lot of people benefited from this screw up too. Like the bankers, loan brokers with high school diploma that earned half million a year, speculators etc etc.

[dbapig]

[quote=poorgradstudent]The truth is a lot of people screwed up.[/quote]

Actually a lot of people benefited from this screw up too. Like the bankers, loan brokers with high school diploma that earned half million a year, speculators etc etc.

[Hobie]

Don’t forget President Carter started with mandates to provide non discrimination and affordable housing in 1978(?). This, I believe is the tip of the arrow which got this snowball rolling.

The banks, fed, etc. all recognized they could make money with the gov backing the risky loans. The rest of the story is simply reaction to this policy.

[Hobie]

Don’t forget President Carter started with mandates to provide non discrimination and affordable housing in 1978(?). This, I believe is the tip of the arrow which got this snowball rolling.

The banks, fed, etc. all recognized they could make money with the gov backing the risky loans. The rest of the story is simply reaction to this policy.

[Hobie]

Don’t forget President Carter started with mandates to provide non discrimination and affordable housing in 1978(?). This, I believe is the tip of the arrow which got this snowball rolling.

The banks, fed, etc. all recognized they could make money with the gov backing the risky loans. The rest of the story is simply reaction to this policy.

[Hobie]

Don’t forget President Carter started with mandates to provide non discrimination and affordable housing in 1978(?). This, I believe is the tip of the arrow which got this snowball rolling.

The banks, fed, etc. all recognized they could make money with the gov backing the risky loans. The rest of the story is simply reaction to this policy.

[Hobie]

Don’t forget President Carter started with mandates to provide non discrimination and affordable housing in 1978(?). This, I believe is the tip of the arrow which got this snowball rolling.

The banks, fed, etc. all recognized they could make money with the gov backing the risky loans. The rest of the story is simply reaction to this policy.

[SK in CV]

[quote=Hobie]Don’t forget President Carter started with mandates to provide non discrimination and affordable housing in 1978(?). This, I believe is the tip of the arrow which got this snowball rolling.

[/quote]

Seriously? How so? Did it also create the S&L crisis in the late 80’s and the subsequent real estate bubble burst of the early 90’s? If you think non-descrimination policies are a bad thing, do you think discrimination is a good thing?

[SK in CV]

[quote=Hobie]Don’t forget President Carter started with mandates to provide non discrimination and affordable housing in 1978(?). This, I believe is the tip of the arrow which got this snowball rolling.

[/quote]

Seriously? How so? Did it also create the S&L crisis in the late 80’s and the subsequent real estate bubble burst of the early 90’s? If you think non-descrimination policies are a bad thing, do you think discrimination is a good thing?

[SK in CV]

[quote=Hobie]Don’t forget President Carter started with mandates to provide non discrimination and affordable housing in 1978(?). This, I believe is the tip of the arrow which got this snowball rolling.

[/quote]

Seriously? How so? Did it also create the S&L crisis in the late 80’s and the subsequent real estate bubble burst of the early 90’s? If you think non-descrimination policies are a bad thing, do you think discrimination is a good thing?

[SK in CV]

[quote=Hobie]Don’t forget President Carter started with mandates to provide non discrimination and affordable housing in 1978(?). This, I believe is the tip of the arrow which got this snowball rolling.

[/quote]

Seriously? How so? Did it also create the S&L crisis in the late 80’s and the subsequent real estate bubble burst of the early 90’s? If you think non-descrimination policies are a bad thing, do you think discrimination is a good thing?

[Author]

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