« Last post by Chronos on Today at 06:44:43 AM »
you forgot to thank barney frank, chris dodd and obumble for their "making home affordable" policy that ushered in the era of credit default swaps that lead to the sub-prime meltdown... which only cost hard working main street folks their entire life savings and will ultimately cost us taxpayers trillions... yep, that's trillions with a f'n 'T'...
^ I can see that you must get your information from FOX News or The Blaze or Dinesh Dsouza or some other questionable source. An easy review of information available on the web shows that you are greatly misinformed.
^ The Making Home Affordable program was part of a law passed in 2009 after the mortgage crisis had already begun and about 15 years after various financial institutions started creating credit default swaps.
This shows you not only lack an understanding of what events caused the mortgage crisis, but also the order of them and where they began. The credit default swaps were a bad idea from the very beginning and when one financial institution started making waves with them other financial institutions decided to gamble the American economy by issuing them, as well. These instruments were specifically what caused the catastrophic losses at AIG. Worse, federal and state officials (was it a security product or an insurance product?) reluctantly refused to regulate them (aka kissed the ass of the financial community who put enough money in the right pockets to have such an ignorant assessment made).
Credit default swaps were created because somebody who loved risk was bored one day because they weren't getting enough of a high while staring at the numbers on the computer screen. CDSs were a dumb idea and every government official afterward who refused to declare that they should be regulated in some way is culpable in the financial crisis. This involves various officials of the New York Department of Financial Services and the Securities Exchange Commission.
Instead of just blaming everything on liberal democratic whatever, why not do a some investigation, some reading, some contemplation, be skeptical of what you read or hear, ask questions of others and then decide what likely caused something else to happen?
I guess that would take some personal investment on your part. It's easier to just spew hate at liberal democratic whatever because you dislike whatever you think is represented by liberal democratic whatever. What's wrong with America is the number of citizens who don't care to investigate and understand some topics on their own. Instead, people who lack any personal investment in their own knowledge are used as tools by others who want to influence what happens in America, often to the detriment of those being used.