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Originally Posted by Skybird
....Moral of the story: neither banks nor the selfregulation of the market is to be trusted. Both have failed, and very much so.
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More Communist propoganda.
There are several reasons for this, and self regulation and the market, nor the banks is to blame.
1. Gov't bail outs - if banks can rely on this, they will take greater risks in the name of profit. They should be allowed to fail.
2. An even greater reason - The real reason this is happening that goes beyond the above is the moral base of society is breaking up. Greed, and self satisfaction takes over when there is no care of your fellow man. No longer are your actions hindered in that it could hurt the borrower when the possibility of making more money exists - your morals base is gone.
3. The reason the moral base is gone? The move away from religion, which binds the moral fabric of society.
All of the above is happening, as a direct result of #3.
-S