This is why I hate bailouts

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So when Bush deregulated everything...wasn't he tell people how to run their business? In other words when he opened up mortgage's to low income families that could never pay they back, didn't he tell business to make very high risk investments? How did that turn out?
 
Well the Bush admin helped the banks give loans they knew would never get paid back. By passing the Bankruptcy Abuse Prevention Act it made it so the people who filed for bankruptcy still had to pay back the money and give back everything they borrowed, because of this financial institutions loosened their regulations allowing people who had poor credit or low income to purchase things they knew would never get paid back, but didn't care because the bankruptcy act protected the institution. Before they would have to be careful who they loaned money too, now it doesnt matter, until all those people dont pay them back and they crumble, which is what happened

Dude, you need to go back and do some research to learn where it really started. Come on, the Bankruptcy Abuse Prevention Act came about in 2005. You don't honestly think this mess started in 2005 do you? I know you think it is hip to jump all over Bush for this mess, but the legislature for subprime lending picked up in the 90's. Bush didn't help the situation, but he sure as hell didn't start the ball rolling.
 
Govt. regulations do absolutely no good. They're enacted after the horse has left the barn, and do nothing to prevent the next disaster.

That's a pretty broad brush you are painting with there. For example, is it your opinion that regulating smokestack emissions does no good?

barfo
 
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