Economic "crisis," cause and effect

[TulsaFan-inTexas]

This forum has to be the most partisan forum on the Internet.

Nobody on this forum is willing to admit THEIR party is at any fault whatsoever, and that is sad.

Folks, the Republicans and Democrats are BOTH at fault.

I feel that the Democrats started the ball rolling, and neglected a couple of warning shots from the Republicans, but both parties are culpable.

Get off the party lines folks. They are both minor variations of each other.

[we vs us]

quote:Originally posted by Conan71



No penalty- no lesson to be learned.

That's my point.  Penalty or no, the lesson is NEVER learned. There will ALWAYS be bubbles, and they will ALWAYS end the way this one is ending.  History is full of this thing happening over and over and over again.  The question is not how do we stop it.  The question is how do we protect ourselves from it when it happens again.

[Conan71]

quote:Originally posted by we vs us

quote:Originally posted by Conan71



No penalty- no lesson to be learned.

That's my point.  Penalty or no, the lesson is NEVER learned. There will ALWAYS be bubbles, and they will ALWAYS end the way this one is ending.  History is full of this thing happening over and over and over again.  The question is not how do we stop it.  The question is how do we protect ourselves from it when it happens again.

I'm small government and I don't like Government getting involved in free enterprise.  But, there are instances where the government needs to do what it can to protect consumers.

Everything might have been fine if growth in the Real Estate and investment markets had been more tempered and measured.  Instead, it would appear there was a bunch of sociopathic greed surrounding construction, lending, real estate sales, and secondary and teritiary finance markets.  There's plenty of money for everyone in the food chain to reap off it over a long time.  Instead, everyone aspires to easy riches.  They found ways to do it, but it's not sustainable at the growth rate their greed needed.

The individual should be the front line on protecting themself.  But it's pretty hard for someone even with a legal degree to decipher the complications of mortgage docs.  The only way I know to protect our society as a whole is with more regulation and adopted lending standards tied to some measure of credit score and objective forumulas across the board.  The gov't also needs to step into the commodity markets again and regulate trade.  This swashbuckling commodity trading has enrichened those lucky enough to hit their bets, but consumers are ultimately the ones contributing all these fabulous riches to the brokers, CEO's, etc.  

Sounds like we are on the same page, Wev.  Time for a beer yet?