Deregulation is not the reason why stupid people buy crap they can't afford in order to set a status symbol. The stupid people themselves are responsible for their own actions. The government should step aside and let the free market do it's own thing, which has worked for over 200 years. Government regulation resulted in monopolies like Freddy and Fannie, which are basically government run. If the market was in charge nothing would have broken that would shut down everything.
@knoxjeff; The desire for home ownership, expecting a financial professional to work in your best interest, and the creation of a federal initiative to house low income families is not "stupid." Stupid is: 1. Discarding professional ethics and selling risky subprime mortgages as investments. 2. Buying cocaine, prostitutes, and jet planes with your ill-got gains. 3. The naive belief that the free market will magically exclude those inclined towards unethical if not criminal behaviour.
Deregulation is not the reason why stupid people buy crap they can't afford in order to set a status symbol. The stupid people themselves are responsible for their own actions. The government should step aside and let the free market do it's own thing, which has worked for over 200 years. Government regulation resulted in monopolies like Freddy and Fannie, which are basically government run. If the market was in charge nothing would have broken that would shut down everything.
knoxjeff 3 years ago
@knoxjeff; The desire for home ownership, expecting a financial professional to work in your best interest, and the creation of a federal initiative to house low income families is not "stupid." Stupid is: 1. Discarding professional ethics and selling risky subprime mortgages as investments. 2. Buying cocaine, prostitutes, and jet planes with your ill-got gains. 3. The naive belief that the free market will magically exclude those inclined towards unethical if not criminal behaviour.
frecklemelon 5 months ago