Those in Congress (such as Barney Frank) who have protected Fannie Mae and Freddie Mac from investigation since at least 2005.
and
Golden parachutes, which have fostered greed and corruption.
This passing Friday on Oprah, Suze Orman said it was the banks' fault because instead of refusing the people they should have, they got greedy and deceived people into thinking they could afford the houses and cars they had when in reality they couldn't. I think Suze makes sense.Who do YOU believe is the cause of the financial crisis?
In a nutshell: stupid government policies encourage stupid lenders to make unregulated stupid loans to stupid people, then deceptively securitize them as "investment grade bonds" (aided by the credit rating agencies) and shlep trillions of dollars' worth of them all over the world.
There are a number of causes that would have created the current problems, dating all the way back to Jimmie Carter. But we mustn't neglect the actual criminals, who are mostly long gone and no one will be really serious about pursuing them.Who do YOU believe is the cause of the financial crisis?
George bush, he was and is the worst,stupitpest presdient i've ever since!!!! he should STOP wasting billions of dollars rebuilding Iraq,when we should be rebuilding ours,come on it's a CRISIS HERE STUPITD PRESIDENT!!!
*Starlight*
Without a doubt the main culprit is Congress itself. Having Congress pass legislation to supposedly fix the problem is a lot like asking an arsonist to help put out the fire he just started.
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