Regulation which were in place not follow and a huge warning sign around 18 months ago ignored.
I am understanding the banks actually gambled by giving loans with no margins, evidently before my time there was a twenty percent down rule which decreased the margin significantly thus lowered the gamble. They did the same thing with credit, no longer requiring proof of being able to pay, I mean giving credit cards to people with no means of income is not just the fault of the person with no income it is the fault of the institution who is putting public money at risk.
Everything I've read says there were regulations which were not followed
there were a lot of OTS regulators laid off over the past 5 years, so in that regard the eye was off the ball, the regulations though did not give full transparency.
I admit to finding this whole thing extremely confusing, and the more I read on it the more confusing it gets. Though my grandfather was a banker and I am sure he is rolling over in his grave about now.
» McCain Suspends Campaign, Are You Kidding Me??!?! ... Last Reply: 2 months ago by RightOn.
Article19: She might not tank at all depending on how freaked out they have Biden on how he has to handle her so they won't all come out screaming sexism. She should be able to take hard questions and I don't anticipate she will answer them well (if they actually present her with any), but she is a charming women and she only needs to charm a few middle of the roader's who can be swayed easily and don't seem to care that she in a feather away from being president. Biden has only to have an attitude. Where i wish the debate will be about the issues I'm afraid it will be about the attitude.
"just accept it, lower taxes, better health care, more stable economy, people actually liking your country, maybe, no more war in Iraq, etc, etc."
I think you are looking far down the road for that, don't for a minute think all the problems from the last two terns are going to disappear overnight, if ever. It is going ot be a suck presidency for which ever candidate wins.
I also agree Pelosi has been a horrible speaker and has to go. She has no idea how to get people to work together, something she should have done to save the trillion dollar loss in the market after the bailout failed. a trillion dollar loss which cost hundreds of thousands of retirees or those near retirement a lot of their retirement money. Money they will not be able to recoup.
There are ways to do an emergency bail-out, and set it to be changed within weeks, and that bail-out should have been done. Congress put politics before something which they should have done. I think there are times when your elected officials have to ignore what you have to say because you don't know enough about it and this was one of those times.