...IMO,when regulators allow a trillion dollar industry to fail because of lack of transparency as well as regulatory control within one single segment of the underlying industry(mortgage backed securities),then that is governmental negligence...
...whether the repercussions were intended or unintended,is really a moot issue and/or spilled milk...
...the point is, that old,well publicized policies (ie:sub prime policy) that gave -almost anybody-credit for home purchases is a main cause in this mess...This particular policy forced,again,forced banks to approve absolutely ridiculous loans country-wide for many many years...
The result when you give the incapable these financing options? ...I think we are all well aware of the results...
Why the lack of regulatory policy in terms of the transparency of mortgage securities??? I'll tell you why,because the government is what set the market stage & policies that created all this BS debt that should have never been allowed in the first place...Creating more transparency via regulatory policy would have only exposed how bad of an idea that the original sub-prime policy was...so instead of preventing this current crisis via new policy,they chose to let the system go in to default,put most of blame on the banks,and make the tax payers pay for it all...shameful,IMO...
...every policy change has its own market cause & effects...I just find it funny that the same names(the same names) seem to always(always) be the financial/power benefactors because of inside information,inside regulatory information,and perfect timing...
...too many coincidences...too many years...too many times...it is getting old...
...now the people are focusing on which governmental policy will be best to solve the naughty wall street bank failures(like it really matters what joesixpack thinks to these people),instead of focusing on what actually caused the problem in the first place...BS governmental policies...which conveniently,you do not watch or read about in headline news/frontpage...oh except the two-paragrapher on page 17d...
...If America wants to realize what is really going on and do nothing...so be it...why not just get rid of the government all together and just let the FED run the country,which they appear to be doing quite efficiently already...or do we just like the governmental charade...
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