Wow. This thread is pure comedy. We certainly have a number of Hugo Chavez wanna-be's here. In speaking about the financial mess, I notice that people who rail against "Big" capitalism and "Big" business tend to forget government's role in Fannie and Freddie. Take a look here and note the date:
http://www.nytimes.com/1999/09/30/bu...e-lending.html
For the few of you who support OWS, I'll post a very important part for you:
Fannie is called a GSE ... a Government Sponsored Entity. Both Fannie Mae and Freddie Mac were doing all they could to back up the banks and lending institutions who were making these subprime, almost worthless loans. No lender is going to make a loan that they feel is a mistake unless there is someone out there to back them up. The entities backing them up were Fannie and Freddie. Who in government was giving them directives to do this stuff? And the Bush administration proposed to alter the regulation of GSE's like Fannie and Freddie, and the Democrats fought those efforts. Look what Barney Frank (Democrat) had to say about it:
http://www.taxfoundation.org/blog/show/23617.html
I hate to bring this guy up as well, but John McCain tried in 2005 to enact a bill that would bring some oversight to Fannie and Freddie.
http://hotair.com/archives/2008/09/1...e-mac-in-2005/
This causes disbelief in liberals, but that bill was stopped cold by a Democrat solid party line vote. But here we have leftist dolts blaming the free market for our current problems. And completely ignoring the governments role in enabling the bad mortgages and blocking reform. All these "revisions" of history, including Mookie's revisionists at the Washington Post, can't deny the role played here, the impacts, and the snowball effect across other sectors of the economy. Well, unless they themselves have an agenda to push.
Here's another tidbit:
And let me be clear about one more thing. Those of you who rail against capitalism, free markets, and financial institutions.....I invite you to live in areas of the world that don't have these things. I think these ignorant types (with no knowledge of finance whatsoever) need to live in places without financial institutions, banks, and private enterprise. Let's see what you think about your standard of living in those places. There are a number of places in the world without them. You are free to move there. I'm certain that Kim Jong Il has room for you.
This is why OWS is useless in the first place. They're targeting the wrong bunch if they hold any sense of intellectual honesty. But these people as we've seen are full of crap.