or when Capitalists become Socialists begging for federal bailouts...
http://www.THESOAPBOXROADSHOW.COM
here is a comment I agree with so I post it here:
As I see it, the problem came in three basic steps.
1 Bankruptcy 'reform' was enacted, followed by mortgage deregulation.
2 Lenders went hog wild making crazy loans, figuring worst case, they foreclose and get the land, they win no matter what, ey?
3 Too many foreclosures crashed the value of homes, something the lenders never figured could happen, and now the whole economy is crashing
The fix: reinstate the old bankruptcy laws and re-regulate the banking industry, ASAP!
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