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Originally posted by Q5echo - The Federal Reserve. The original sin of this crisis was easy money. For too long this decade, especially from 2003 to 2005, the Fed held interest rates below the level of expected inflation, thus creating a vast subsidy for debt that both households and financial firms exploited. The housing bubble was a result, along with its financial counterparts, the subprime loan and the mortgage SIV.

silly me. here i was thinking that individual banks set their own interest rates.

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Originally posted by pkcRAISTLIN silly me. here i was thinking that individual banks set their own interest rates.

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Originally posted by Krypton The United States has been mismanaged for years by radical right wing ideologues who've thrown our constitution out the window in favor of their authoritarian agenda. I can't believe some people give this government the benefit of the doubt...I view such people as simply, "authoritarian followers", or people who give unquestionable loyalty to authority. This sentiment is more dangerous than Al-Qaida ever was...It's great for Al-Qaida because they watch as we descend into the very thing we preach we are not. Authoritarians.

++1

This is great. Right to the point!

#
Bush
Sep 22 ARG
Approve 19%, Disapprove 76%

http://tpmelectioncentral.talkingpo...lltracker/bush/

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Ok lez...admit it, given recent events and Ron Paul's warnings over the past 20 years, you gotta admit he's not as batshit crazy as you thought he was..

Link

True, he's risen to be about on par with the likes of Jim Cramer.

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Originally posted by Capitalizt Ok lez...admit it, given recent events and Ron Paul's warnings over the past 20 years, you gotta admit he's not as batshit crazy as you thought he was..

it doesn't take brilliance to understand that you are in trouble when expenses are greater than income.

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Originally posted by jerZ07002 it doesn't take brilliance to understand that you are in trouble when expenses are greater than income.

Then the Congress/President is abjectly/stupifyingly ignorant beyond all belief.

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Originally posted by Krypton Then the Congress/President is abjectly/stupifyingly ignorant beyond all belief.

Or perhaps the Fed/Treasury?

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Originally posted by Shakka Or perhaps the Fed/Treasury?

I don't understand why Hank Paulson still has a job...

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Originally posted by Krypton I don't understand why Hank Paulson still has a job...

because people love social services, which cost the government billions - strike that, trillions - of dollars. Granted, the war is expensive, however, so is your retirement fund (SSI), policing, highway repairs, medicare, education, etc.... If people wanted less shit from the government it would be easier for the government to keep a balanced budget. I'm not excusing the government for runaway spending, however, i understand the complication involved when 300+ million people all want something from the government.

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Originally posted by Krypton Then the Congress/President is abjectly/stupifyingly ignorant beyond all belief.

interesting choice of words. i think abjectly is more appropriately used in a situation when someone's spirits are broken down. congress isn't abjectly ignorant(although i could be wrong); hopelessly or dispairingly are probably better adjectives.