I watched this yesterday. It explains the ongoing collapse of western civilisation, names the guilty- and points out that most of them are still in positions of power and influence (running the Obama administration for instance).
I give away half of my income every year to those less fortunate than myself, so, I feel I am somewhat at liberty to give an opinion when I see money being flushed down the toilet. In addition, I have friends that work directly in the Office of Congressional Legislation, the Congressional Budget Office, and Fannie Mae/Freddie Mac, and we have discussed these issues at length.
I did not blame the poor and powerless. I blamed Barney Frank, and by implication, the political forces behind him.
I don't agree with many of the things that were done under previous American administrations. I would have let AIG fail, for instance, and any other insurer, bank, car manufacturer, or investment house. I was not in favor of any type of government bail-out for anyone. That was a huge mistake. But it doesn't change the fact that liberalizing and incentivizing the loan process was also a huge mistake.
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branchandroot
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Date: 2011-12-10 09:34 pm (UTC)I did not blame the poor and powerless. I blamed Barney Frank, and by implication, the political forces behind him.
I don't agree with many of the things that were done under previous American administrations. I would have let AIG fail, for instance, and any other insurer, bank, car manufacturer, or investment house. I was not in favor of any type of government bail-out for anyone. That was a huge mistake. But it doesn't change the fact that liberalizing and incentivizing the loan process was also a huge mistake.