« Back to story "Citigroup Has Announced Its Plan to Rework Mortgages and Stop Foreclosures"

Story Comments

This page is a permanent archive of the comment below and its replies.
To view this comment in the context of the full discussion for the story, use this link.

All Comments Share Story Report

100%
wtagg1 year ago

This comment is below the standard viewing threshold View It »

They had no choice? That's pretty funny.

Then the democrats get credit for the housing boom and the low rates that occurred during that period. Back earlier in this decade, the republicans hurt their hands congratulating each other for the very thing you are attempting to blame the democrats solely for.

Take a look at the Gramm-Leach-Bliley bill of 1999. Another bill applauded until just recently.

What you are asking for is more regulation. How liberal of you.

"2003 through 2006 Republicans tried to fix Fannie Mae and Freddy Mac but Democrats stopped any fix"

Provide some evidence where the democrats solely prevented this from occurring.

Plus, there is no empirical evidence that anything the republicans had planned would have prevented what occurred. What your narrow tunnel talk show entertainer vision prevents you from seeing is that this was much more than fannie and freddie. It was the breath of the entire market of pursuing a more risky business model than what was possible before all the deregulation was established. The whole market became one of speculation.

Deregulation, just like regulation, comes with a price. A free market allows businesses to do what they want. It shouldn't be a surprise when the early risks that are taken provide a larger return, that larger risks are taken to provide an even larger return. Eventually, the risks come back to bite one's hand.

(comment_max_expanded_depth : 55) (comment depth : 4) (recursion depth : 1) (max_comment_reply_depth : 40) (comment_max_render_depth : 55)
Reply
0 Replies

loading ...