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Originally Posted by Seth
you say conspiracy. ok. Why didn't the feds take action sooner? Are you saying that these turn of events were unpredictable? Was this outcome the only possible scenario for those legislator's in Washington? There's power consolidation happening because of this, and I don't believe that it wasn't at least hoped for. Do you agree with the bailout prof?
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Not in the least. Leaning toward free markets, I believe that businesses should be free to succeed and free to fail. But also, there is a lot of retirement and pension money holed up in these investment organizations, so allowing them to fail would hurt a lot of people. Its a double edged sword.
The bottom line is that the deregulation that allowed this to happen took place in the 70's and events over multiple administrations and cultural time periods spanning decades.
Just because something is predictable does not make it intentional. Weather is predictable, but there is no weather machine controlled by the Freemasons that created Katrina. Greedy people over time and the betterment of their own pocket created this situation because they needed to cook books to keep their jobs or even worse, justify bonuses. To say that this has been planned over the last few decades honestly gives governing bodies far too much credit. It also begs the question of why more malicious action wasn't done sooner by these muysterious forces during the OPEC oil crisis, the new Deal or the recession of the early 90's. Why now and not then? This attitude assume that all capitalist and socialist events are completely under the control of forces so banal we cannot ever fully realize or be consumed by wild, sulferous flame.