lonewolf wrote:[Fuck that...its time for the federal government to get out of the mortgage industry...didn't anybody learn anything from 2008? DUH.
Besides, people who are underwater need to learn a lesson from this so that fewer people will make the same mistake twice. Nobody, corporate or individual, will change their bad behavior if they are rewarded for it.
Yes, we did learn something from '08: The God-like private sector was the culprit. Government oversight was the solution, not the problem, and the suggestion is, how you say, "populist bullshit." For the zillionth time, when govt allowed banks to create toxic assets (hand out money to people who clearly couldn't pay, collect fees, bundle and sell said assets to unsuspecting investors, and insure the loans via the Govt and corps like AIG), the mortgage industry engaged in a blood-orgy of profiteering, knowing full-well that the taxpayer would eventually get the bill. Who did the taxpayer give all that money to? THE BANKS. Trillions of US dollars worth. When the bad guys effed-up, we gave the bad guys even more money than they had originally stolen. Was this Obama? No. Was this black folks getting free houses? Nope. Was this Fannie Mae and Freddie Mac? Only one-sixth of it. The rest was Wall Street, and they should suffer criminal, prison-time penalties for it. Instead, a fully-corrupt media bangs a misinformation drum, over and over, non-stop, to convince talkshow fans that the government Americans elected is evil, that the criminals have our best interests in mind, that the 1% should be unsupervised, and that talkshow fans will soon join the 1%.
To use your own words, "Nobody, corporate or individual, will change their bad behavior if they are rewarded for it." Stop rewarding Wall St. Punish Wall Street NOW, and strenuously, and the behavior will stop.
http://www.washingtonpost.com/realestat ... 0&denied=1