GW Bush and the subprime meltdown.

[ddgravy]

This was not a failure of capitalism. This was a failure of a mixed economy where a government used economic incentives to distort real risk.

+1:icon_wink:

[dogtek]

This was not a failure of capitalism. This was a failure of a mixed economy where a government used economic incentives to distort real risk.

wrong! it is the fault of capitalists that are greedy and quick to prey on the less fortunate. that is the cancer of capitalism (GREED).

[Guisslapp]

wrong! it is the fault of capitalists that are greedy and quick to prey on the less fortunate. that is the cancer of capitalism (GREED).

Greed leads to improved standards of living for everyone, and over-greediness is self-correcting in the free market (the overgreedy will lose their shirt). In mixed economies, resources are misallocated by socioeconomic policy and overgreediness is allowed to fester until a painful bubble bursts.

So that makes you wrong...if you are keeping score.

[dawg80]

[quote=dogtek;863554]wrong! it is the fault of capitalists that are greedy and quick to prey on the less fortunate. that is the cancer of capitalism (GREED).[/quote]

"Greed, for the lack of a better term, is good." -Michael Douglas's character (Glecko?) in Wall Street.

Just like if the gov-mint were to remove speed limits from interstates, people would speed and fatalities would drastically rise, so too, when the gov-mint removed the "limits" from the mortgage industry....whamo!

You can choose to blame the wreckless speeders for the accidents, yep, or you can see the whole picture and say, know what! the gov-mint impowered the speeders in the first place.

Those limit-removers were Waters, Frank, Dodd, obama, et al.... the 2002 and 2004 congressional hearings are on Youtube, captured by CSPAN.

Hmmmm, which is why the demos have banned CSPAN from their secret society clubhouse healthcare dealings. Nothing documented this time.

[JuBru]

Greed leads to improved standards of living for everyone, and over-greediness is self-correcting in the free market (the overgreedy will lose their shirt). In mixed economies, resources are misallocated by socioeconomic policy and overgreediness is allowed to fester until a painful bubble bursts.

So that makes you wrong...if you are keeping score.

And that's how the cookie crumbles.

[SicemDawgz]

I have an excellent example of the sumprime mess in an email if I could figure out how to post the link. It has no sound only captions but does have the "F" word in some of the captions. I'm not sure if that's against the forum rules.

[Abominable Gorilla]

but does have the "F" word in some of the captions. I'm not sure if that's against the forum rules.

Jew??

[SicemDawgz]

Jew??