tag:blogger.com,1999:blog-4342651855089974722.post4768062654846738051..comments2023-10-22T07:09:40.782-04:00Comments on Old: Cause of the mortgage crisisStephen Smithhttp://www.blogger.com/profile/12118017106106571684noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4342651855089974722.post-76670060896058964742008-09-23T13:46:00.000-04:002008-09-23T13:46:00.000-04:00But why would the Bush administration want to caus...<I>But why would the Bush administration want to cause an economic collapse? </I><BR/><BR/>Perhaps I was unclear. <BR/><BR/>This "crisis" of 'hurry up and trust us, we must act quickly or else the car will be off the lot' combined with the 'two weeks ago there were no problems, but today there is one and we must give total power to my appointee and transfer our treasure to my benefactors' problem and it is a ginned-up terror alert. <BR/><BR/>BushCo did not want to cause a collapse, but their incompetence and blatant plunder (KBR/Halliburton) are helping to cause this one. We are in one now. <BR/><BR/>Second, my first career was in banking. Things are very different today with all this under-reserving and risk-taking and debt-hiding cr*p. The regulations to keep banks away from investment and insurance houses went away. These regulations that went away would have prevented this. <BR/><BR/>DSAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4342651855089974722.post-54366603051074504772008-09-22T18:32:00.000-04:002008-09-22T18:32:00.000-04:00But why would the Bush administration want to caus...But why would the Bush administration want to cause an economic collapse? This clearly hasn't helped him or John McCain (who, by his own admission, really doesn't know anything about economics). And that doesn't really make sense when you consider that there really WAS a bubble.<BR/><BR/>And as for "too little regulation," where do you see that? I mean, what's changed? The only thing I can see is Glass-Steagall, but like I said, that clearly didn't cause the bubble.<BR/><BR/>And I would also contest your use of the term "neocon-neolib." There's really nothing free market about the American housing market, if that's what you meant by "neocon-neolib."Stephen Smithhttps://www.blogger.com/profile/12118017106106571684noreply@blogger.comtag:blogger.com,1999:blog-4342651855089974722.post-33537152123566857832008-09-22T14:14:00.000-04:002008-09-22T14:14:00.000-04:00You forgot an explanation:This is suspiciously lik...You forgot an explanation:<BR/><BR/>This is suspiciously like the Orange Alert! Terra! Terra! "crises" we had during the last presidential election cycle. <BR/><BR/>Not the entire explanation, but it certainly is piled on top of the unfettered greed, too little regulation and series of speculative bubbles that were allowed to happen under the neocon-neolib failed experiments. <BR/><BR/>DSAnonymousnoreply@blogger.com