Who else resents USAians for causing this finanical crisis?

[Heraclitus]

Yeah deregulate everything, that's always the answer isn't it?




You started this crisis and now we government loving Euros are paying for it, but hey we can afford a bit of pain (not as much as you though). And I'm not even mentioning the other 5 billion people in developing countries.


It's not fair.




You guys need to get off your lazy asses and end the oppressive plutocracy which has replaced your democracy or other people will do it for you.

[DinoDoc]

Re: Who else resents USAians for causing this finanical crisis?

Originally posted by Heraclitus
Yeah deregulate everything, that's always the answer isn't it?

This problem was partially caused by government regulation in the form of the Community Reinvestment Act.

[OneFootInTheGrave]

ahem... who is to blame Euro companies for idiotically investing into US like there is no tomorrow... or in UK or Spain or Italy... all in all we are the creators of our own fortune, and if our banks don't know better... well we better bail them out or something (as we are doing)...

noone put a gun against their head and said "invest into US subprime"... it was all free will... idiotic, but well... like Greenspan said "who would have thought" while they were busy paying out millions and tens of millions in bonuses to each other...

[KrazyHorse]

Re: Re: Who else resents USAians for causing this finanical crisis?

Originally posted by DinoDoc
This problem was partially caused by government regulation in the form of the Community Reinvestment Act.

That is patent nonsense.

[Naked Gents Rut]

The whole blaming of "deregulation" is moronic. The next time someone tells you that's the reason for the financial crisis, you should ask them to name one specific case of deregulation that helped cause the crisis. The dumb ones won't have an answer. The slightly less dumb ones will trot out Glass-Steagall, which gives you the right to laugh at them.

There were three main causes, none of which were deregulation...

1. The explosion in subprime and Alt-A mortgages and mortgage-backed securities, led by Fannie Mae, Freddie Mac and others who had the protection of powerful members of the U.S. government.

2. The Fed leaving interest rates too low for too long, flooding the economy with money that helped fuel the subprime boom.

3. A lack of sensible regulation (not re-regulation) and an exchange for credit default swaps.

[DinoDoc]

http://online.wsj.com/article/SB122298982558700341.html

[Riesstiu IV]

We decided to create this financial crisis for the lulz.

[KrazyHorse]

Originally posted by Naked Gents Rut
The whole blaming of "deregulation" is moronic

This is true.

Though there is good reason to believe that extremely mild regulation (encouraging the movement of OTC derivatives to exchanges) might have been a good idea.

[KrazyHorse]

Originally posted by DinoDoc
http://online.wsj.com/article/SB122298982558700341.html

www.imgoingtopullstuffoutofmyassbecauseitsupportsm yideologicalpointofview.com

[Naked Gents Rut]

Though there is good reason to believe that extremely mild regulation (encouraging the movement of OTC derivatives to exchanges) might have been a good idea.

I think I just said that.

[DinoDoc]

Originally posted by KrazyHorse


https://www.imgoingtopullstuffoutofm...ointofview.com

Isn't that where you get most of your arguements?

[KrazyHorse]

1. The explosion in subprime and Alt-A mortgages and mortgage-backed securities, led by Fannie Mae, Freddie Mac and others who had the protection of powerful members of the U.S. government.

Fannie Mae et al were dramatically outpaced in the growth of mortgages by the private sector. If anything they were the latecomers to the party who saw everybody else having fun and decided to try to get in on it. They didn't lead ****.

[KrazyHorse]

Originally posted by Naked Gents Rut


I think I just said that.

I saw that after I posted. Hadn't bothered to read past first sentence.

[Imran Siddiqui]

You started this crisis and now we government loving Euros are paying for it, but hey we can afford a bit of pain (not as much as you though). And I'm not even mentioning the other 5 billion people in developing countries.

Yeeeeeah... because Euros weren't involved in dumb policies which bit them when their housing bubble burst? Remind me again when Northern Rock had to be bailed out?

[Naked Gents Rut]

Dammit. Now I have to go find that slide again...