While it is true that no one forced people to buy houses I think your missing the point. Ichi mentioned that There are preditors and prey. One or the other. Most people are "prey." I have always felt the same way. The banks preyed on idiots as they had the ratings agency's give AAA ratings to these shit loans, they then could sell them and be off the hook while making tons of dough. They basically privatized gains for themselves while socializing the loses as they were never held accountable.
The CEO's of these major banks should be sharing a jail cell with Bernie Madoff, the only reason he is behind bars is because he stole from the rich. All they did was make billions while selling off these shit loans so they wouldn't be caught holding the bag. Besides they had one of there own ready to bail them out in that fucker Paulson. I have never seen the Federal Government move so fast to dole out billions, I guess it's OK to socialize the banks when a so called Conservative Republican does it.
The de-regulation of the banks that started with Reagan, continued with Clinton and Bush and flied right past those dicks in senate and house is bullshit. If there going to use the money of the American people to insure deposits than they better make sure these fuckers aren't ripping us off blind. Business should feel free to prosper but NOT when it's backed by the federal government. Take away the FDIC insurance and lets see how many of us would even think to keep our money with these crooks.
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