Count me in as one of those who don't understand what the governments role in this should be. I am a bit skeptical about the accusations that al the banks were forced to make the same stupid moves. Some banks remain prosperous and are buying out the failing banks. It does seem that a lot of the institutions that are failing were the ones that were heavily advertising AIG, Leman. Wachovia etc While the Huge banks that didn't advertise on the mass media seem to be doing well. Chase, Bank of Amerca, and even Citi Bank who for a few years always seemed to be struggling.TexasAggie wrote:
From what I understand, fines were imposed to banks that didn't have a minimum # of these sub-prime loans and faced severe additional penalties.
Not to mention the threat of Sharpton and his PR destruction machine (this one is MY opinion only).
Businesses are just like liberals .. When ever things go bad blame the government for your troubles. It is much easier than accepting responcibilty yourself.