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10-28-2008, 08:07 PM #20
Senior Member
Welcome to socialism, boys and girls...
i do blame bush, but not only bush, or only republicans...as i have stated previously, i place most of the blame on the institutions that issued risky loans and repackaged them into mortgage backed securities
allan greenspan just finished testifying that he was wrong to think financial institutions could regulate themselves...the reason gov't regulation failed is because it was too weak and it wasn't enforced...if you need proof of that, i read somewhere on the internets that all the government regulatory papers were bottlenecked through only two analysts
one of the main reasons canada didn't have a subprime crisis is because the canadian banking system is regulated more stringently...no matter who is president next year, i bet the US banking system will be more heavily regulated than the canadian system
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