Time to Start Paying Attention, America!

[Warsaw]

you dont think that banks being able to give homeloans to people at repayment rates that where LOWER then the interest charged had nothing to do with it?
Stop fucking dreaming.

Banks arnt what will get you out of this recession, what will is infrastructure.

A business can and will make mistakes. Banks are businesses. They fucked up by giving homeloans to people at repayment rates that were lower than interest charged AND NOT CARING THAT THE CREDIT OF THE CUSTOMER WAS TOO LOW. They did that because the Fed (read: government regulation) encouraged them to do so. The only one dreaming here is you. The reason that everything crashed was because everyone invested in these banks, these banks which couldn't be trusted because they were too greedy and jumped on the opportunity the Fed gave them. When they suddenly found out that people couldn't pay the rates for the loans, they had to close up shop because they lost all their money. Because they lost their money, everybody who had something with them also lost money.


King_Nothing and sleepy are right. We have infrastructure, except it's too invasive. We know exactly what went wrong with the system. I don't even know what the fuck you are talking about when you say "banks arnt what will get you out of this recession," because nobody here is saying that. We're saying that government backing the fuck up out of economic manipulation will turn it around. The only regulation I want to see the US Federal Government do is slapping some taxes on Chinese imports.

Ninja'd by double post: They don't extort people in the first place. That's what we're saying. It was the federal government's manipulation that allowed and encouraged them to extort. And like I said, we're talking more about deregulating the economy; banks are not the entire economy by themselves. I don't think you honestly understand how economics works, let alone how it presently works in the United States.