I think we're mutually failing to get each others points. What I'm trying to say is that while the CEOs and other executives have some of the blame for their shortcomings, it's pretty obvious that there are things the government and us by extension can do to stop them from doing these things that get us into messes like this, and through our inaction until now we are also to blame for the current situation. That doesn't mean we are equally to blame, and they most likely will take take the majority of the blame for everything that's happened so far, but that doesn't change the fact that by choosing not to act we ourselves must take some responsibility for what had happened due to our inaction.
Well, as I have been trying to say the whole time, there is one answer - greed. Nobody wanted to do anything as long as their houses and land was going up in price, and now that the bubble burst, the ones left holding the bag are crying to the government. Many were smart and didn't get into the greedy bunch that squandered their life's savings on sub-prime mortgages...
I wouldn't call it greed. The system is almost incompatible with cooperation.
Yes, I would call it greed. The only reason nobody was stopping this mortgage rush was because money was still pouring into the coffers of investors, lenders, and the government in the form of higher property taxes. Everybody was getting money, so everybody was happy.
Until the process got too big for its head, and someone had to be left holding the bag...
Personally i think our Government is a bit too "spendy" these days and we might go into a slight depression. Also I think most countries wouldn't care cause America is kind of a "bully" towards most other countries(Which in time will most likely blow up in our faces..) Thats what I think.
True, but a few of the big powers like Russia/China arn't on good terms with America I don't think. Plus America relys on a lot too so if some major powers were to lets say "enemy" America wouldn't some smaller contries join that aswell?
Its pretty clear that America is going to go into recession. And im confident it will hit a depression as well. With them not passing the Bailout to help the high end companies, were going to see a lot more of them in financial trouble, and the stock market is gonna take even more of a but whooping then it has already.
In 8 years bush went from being out of national debt to screwing his own country.
In 8 years bush went from being out of national debt to screwing his own country.
Actually, we were billions of dollars in debt during the Clinton administration. The Democrats are just very good at pasting over defeceits. Case in point: the California government. Under Joseph "Grey" Davis, a crazy liberal, we, according to the books, were in a surplus, but the state was actually billions in debt. They would borrow money every year to "aste over" the defeceit and pass the buck to the next governor.
[i]Actually, we were billions of dollars in debt during the Clinton administration. The Democrats are just very good at pasting over defeceits. Case in point: the California government. Under Joseph "Grey" Davis, a crazy liberal, we, according to the books, were in a surplus, but the state was actually billions in debt. They would borrow money every year to "aste over" the defeceit and pass the buck to the next governor.
[b]i thik cliton made a good job with debts obama will resolve everything
Ah, i didnt realize thats how it had worked. Still, i think the bailout only opts to help large finicaial companies. really it doesnt help the lower/middle class all the much. the regression is going to be hard, but with as many resources as america has, i think it will pull out okay on the other end, and hopefully learn from tis mistakes.
