kEiThZ
Superstar
It is not fair or smart to chide me for saying right wing policies allowing free markets (predatory lending as an example) to do whatever they want caused the mess.
And your hit job on cacruden is hardly appropriate either in this context. How is 'predatory lending' a right wing policy? First off, offering ARMs hardly qualifies as predatory lending (which tends to refer to payday loans, loan sharks, etc.). Next, how are any of these right wing policies? Things like payday loans, and ARMs came into being in the 90s during the Clinton years with a Democrat appointed Treasury secretary. Lastly, it's interesting to note, that many more southern states have regulations against predatory lending practices than northern states. What does that say about so called free market beliefs? And the whole MBS system was created right under the nose of Spitzer et al. So are we now to say that Democrats support fraudulent securities? Like I have said before, it's rather simplistic to say the policies are right or left wing.
In most cases, policies created to solve one problem created another....see my example on CEO pay. The key here is to come up with rules that stand the test of time, and to explain to the average person why these rules are there. If we had not heeded the outcry on CEO compensation in the 90s, we would not have started handing out millions of shares to motivate CEOs to raise the stock price with risky practices. That's a direct result of a lot of people crying out against the perceived inequity of CEO pay compared to worker pay.