@snood,
snood wrote:
Yeah Bernie is adamant that the biggest American economic disaster since the great depression was caused by recklessness and greed on Wall Street. Wow, how dare he spread such baseless propaganda, huh?
He can say anything he wants as far as I am concerned It is noteworthy however, that based on his campaign rhetoric, he intends (if in the unlikely events (1) that he is elected, and (2) gets his way in Congress ) to behave in a very authoritarian way with respect to financial markets, investors and others.
You of course suscribe to the fiction that Wall Street alone caused the 2007/8 market crash, implying that the chief bundlers and sellers of mortgage securities, Fannie Mae and Freddy Mac, and the Federal mandates about red lines and qualifying people for mortgages at amounts that violated long standing measures for acceptable levels of repayment ability, all had nothing to do with it. That flys in the face of common sense and serious economic analysis done since then.
The sad thing is that we're doing it all again this time with Federally guaranteed College loans which have already spiked a wave of reckless spending in colleges across the country and the exploding tuition rates that follow. Such Federal subsidies usually have the opposite of the intended effect as they pump cheap money into markets, lowering price competition and raising demand at the same moment yielding the inevitable economic bubble.
