mozzaok
Gold Member
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OzPolitic
Posts: 6741
Melbourne
Gender:
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While Clinton's initial policy change, requiring lenders to make loans available to a section of the market considered as disadvantaged, was a significant error of judgement, the markets ability to create false wealth, and refinance that false wealth, was the major cause of the financial markets collapse. Bush could have regulated parts of the market, to rein in the speculators, and shysters, who were profiteering with zero accountability, but he chose not to, as the right is traditionally against regulation, and ideologically wedded to deregulation, at any cost.
Well now we know there is a cost. For years, many years, actually, before this collapse, numerous economic commentators, and forecasters predicted a catastrophic collapse, unless urgent steps were taken, but the ideological right wing mindset dismissed them as alarmists.
It sounds familiar does it not Grendel?
As far as your self assessment as being left leaning? well that is about as reliable as a mother's perception of their own baby's looks, or intelligence, and the only person I know of that buys it is?? Grendel, and maybe his mummy.
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