Anyone else get the WaMu Free checking add? Sam wrote: > I found the video Youtube banned. > > http://www.dailymotion.com/video/x6wxmr_burning-down-the-house-what-caused_news > > > > On Tue, Sep 30, 2008 at 11:28 AM, Gruss Gott <[EMAIL PROTECTED]> wrote: >>> gMoney wrote: >>> That's an awesomely simple explanation of how both parties ideologies >>> contributed to this mess. >>> >>> Republicans: "De-regulate!" >>> Democrats: "Please start lending to people who can't afford it!" >>> >>> Result? >>> >> The "it was frannies fault" argument is BS. They didn't make the >> loans. Period. >> >> And it's not that rules were "relaxed" to lenders, although that didn't help. >> >> The problem was that lenders could lend & sell (i.e., not bear the >> risk) and the buyers didn't know what they were buying. And for 14 >> years people have been saying that's a recipe for disaster and the >> government let it ride because Wall Street said, "don't worry". >> >> On top of that, the gov't allowed Wall Street to borrow 35x their >> worth to buy and sell these packages. >> >> It's a regulation problem that's been known about for a decade and 1/2 >> and it boils down to the government allowing the lenders to lend other >> people's money. >> >> If was lending Robert's money, I would take risks that I sure wouldn't >> with my money. >> >> And therein lies the problem. >> > >
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