Tax Plan

[Vendetta21]

Originally Posted by u8477

Want to know who's hands it is in? Community Organizers, like Obama (his ONLY "experience"), who go down and bitch and moan to get loans out to the poor people. They bug the banks and send letters, show signs and make threats about the banks to give out these loans until the banks finally give in.

Scapegoat. This has nothing to do with the credit crunch either. The banks didn't "give in," they were completely willing to set up the subprime devices and expand the number of loans they had out. The subprime devices were extremely profitable for a good fifteen years because of the unique way they were set up, and the problem was that they were destined to fail eventually, but no one wanted to put the stop on it because they were, at the time, doing a lot of goods things for a lot of good people, and no one wanted to be the person who said no to that.

It's more in the hands of the Federal Reserve, the Securities Exchange Commission, and the Treasury Department. But not that much. It's a very complicated problem that even the best experts aren't sure about simply because of the incredibly tangled mess.

To say that 12% of a market can fail a worldwide economy would be stupid, and that's what we're talking about. 12% of the Mortgage-backed securities market was subprime. You are grossly misunderstanding the problem if you think subprime is solely to blame. It's just one contingent in a gigantic field of contingents.