Time to Start Paying Attention, America!

[Bodzilla]

Yes, because no one is proposing deregulation without also throwing out their backup profit system known as the taxpayer. This makes them not only liable for their own losses, but also to the shareholders and customers. they simply won't be able to take risks like trading in mortgage-backed securities.

Have you ever heard of superannuation?

What your literally suggesting is deregulating the banks who will handle peoples literal life savings (directly or indirectly) so they can make more risky investments, and then if it fails you screw up peoples retirement funds and therefore force them onto the dole.... which is paid for by taxpayers.

or would you cut these people off as well and have millions in poverty.



You guys havnt learned a fucking thing, and it scares me.

[king_nothing_]

you guys have terrible memory's
last i checked the banks folded because they where handing out foolish amounts of money to people that couldnt pay it back, thanks to a lack of regulation enforcing safe banking practices.
only thing is when they failed they fucked up most of the worlds retirement in the process.

are you seriously telling me that if you deregulate these people that it'll be better for us?

It was government intervention that caused the housing bubble in the first place. The Fed kept interest rates artificially low for a long time which encouraged the malinvestment. It encouraged the risky loans. If they weren't manipulating the market conditions, it wouldn't have happened.

Also, government policies incited banks to lend to people who they normally would not because of risk. They encouraged home ownership for people who couldn't afford homes.

EDIT: On top of all that, the fact that they're "too big to fail" encourages excessive risk-taking as well. What's the point of risk-aversion when the government will just bail you out when you screw up, right? (moral hazard)

[Bodzilla]

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.

[Bodzilla]

They shouldnt be allowed to extort people like this in the first place, it's nto about not caring, it's about short term profits for long term sacrifice that came as a direct effect of deregulating the fucking banking system.

if you honestly think that if you dont bail them out they'll stop predatory lending practices your fucking Deluded.

[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.

[king_nothing_]

^ That.

[Rainbow Dash]

:facepalm:

Hey Zeph hows not having health care because it's a commodity going :3

[TVTyrant]

Bod, thank you for being a fucking intelligent person.

How does regulation have anything to do with the fucking bailouts? I don't agree with bailouts; I agree with making sure banks aren't lending to people who can't pay that money back though. Wall Street caused he economic collapse, not the government.

How will deregulation make it any better? It will just allow these fucking rich millionaires to fuck us all in the ass while we squabble over whether we should enact laws about it or not. It has more to do with people not doing their fucking jobs than it has to do with the laws in place.

I have to say, Selentic has the right idea.

[king_nothing_]

Did you make any effort to comprehend the previous posts at all?

I agree with making sure banks aren't lending to people who can't pay that money back though. Wall Street caused he economic collapse, not the government.

They both did, really, but the underlying cause was the government. The government actively encouraged them to do what they did. If the Fed wouldn't have manipulated the market conditions, the crisis wouldn't have happened. Please read the previous posts.

The entirety of your reasoning is "the banks screwed us, so we need to regulate the banks more to make things better". It's obvious you've made no effort to examine the issue any deeper than that. It's also obvious who in here is making the substantive arguments and who isn't.

[king_nothing_]