[Professor S]

Seth, you mistook my argument. I never said a short term upswing was an answer to the crisis, I was commenting on how foolish it is to think that only one party is responsible for it.

As for the root of the issue, I believe it is because of the overturn of previous regulation that separated wallstreet from the mortgage industry. Mortagge debt should never have been treated like stocks, but always more like bonds, which are much more stable and not prone to the types of speculation that takes place in the market.

But in the end, every level is at fault for this from the buyer all the way to the Fed who should have raised interest rates YEARS ago to stabalize the dollar and make money more expensive to borrow. Increased risk is the best regulation against leveraging one's self to the point of bankruptcy.

It needed be a consipracy, Seth. Wallstreet got greedy and got in the pockets of enough legislators to repeal regulations that helped stabalize housing.

And Jason, you still ignore my points and have fabricated your own. You say the economy has been terrible for the last eight years? That ignores the last eight years. You cannot replace our reality for one that fits with your talking points.

And by the way, your still not responding to large chunks of my posts where I directly ask you questions.