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03-26-2009, 06:15 PM #3
OPMember
News Bulletin: The government doesn't create anything
This only changes how effective the workers will be, the rest still holds true. Explain how taking trillions of dollars from taxpayers to bailout companies and "stimulate" the economy can work.
Originally Posted by 5thHorseMan
It was from too much free money. The Fed artificially lowered interest rates which gave the bankers all the alcohol to get drunk on. They made loans, sometimes backed by the government, to people who did not deserve these loans. In the case of Fannie and Freddie, they were forced to give out loans to almost everyone who didn't deserve one. This crisis would have already ended if we didn't have the Federal Reserve. The banks failing would set the precedent to not try to do the same things they did in the future.
Originally Posted by 5thHorseMan
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