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      09-13-2012, 03:07 PM   #31

Drives: I miss my E12
Join Date: Nov 2010
Location: NY

iTrader: (0)

What I'm saying is that the government never 'nudged' anyone to engage in that type of business - if they had, there'd be screaming evidence of it everywhere, far more concrete than an opinion piece without any specifics. The supporting info is so had to find precisely because it doesn't exist. Proof needs to come in the form of some statute that gives the government the mechanical ability to compel private entities into some action - OR, some wall street executives with evidence that their hands were forced somehow.

Regarding your comments on my 8th point, those subprime loans were created strictly out of the profit motive. If the lenders weren't making the fees they were making off them, they wouldn't have bothered with them. It really ends there. You appear to ignore the fact that the lenders didn't have to worry about maintaining the loans for more than a year or two because they were bundling them up and dumping them on wall street, effectively making it someone else's problem.

I'd be happy to fault socialism as the cause of this if it was. Without any hard evidence, that's just not a reasonable conclusion here. (Not that it was caused by capitalism either.)