How inequality fueled the financial crisis

iVillage Member
Registered: 10-25-2006
How inequality fueled the financial crisis
10
Sun, 12-04-2011 - 8:49am

Really good article with lots of charts. The final paragraph links to another excellent article suggesting that had we been as concerned about private debt, as we are about public debt, we may have averted the financial crisis:

http://seekingalpha.com/article/311593-rising-inequality-and-the-economic-crisis?ifp=0&source=email_the_daily_dispatch#comments_header

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http://www.pnhp.org/news/2009/october/meet_the_new_health_.php

http://www.youtube.com/watch?v=DQTBYQlQ7yM

iVillage Member
Registered: 09-30-2011
Sun, 12-04-2011 - 7:14pm

Inequality did fuel the financial crisis...when the Dems tried to force banks to loan money to people who couldn't afford to pay them back.

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Community Leader
Registered: 01-25-2010
Tue, 12-06-2011 - 6:15am

The crisis took 60 years in the making.

dragowoman

iVillage Member
Registered: 09-30-2011
Tue, 12-06-2011 - 1:26pm

The crisis took 60 years in the making.

More like 25-30.

All parties had a part in it.

True...but it was the Democrat's baby and they defended it vociferously against Republican attempts at regulation.

The big hit started with TARP and the bailouts. Congresses own mandates on foreign policy since the 1960's prevented direct strikes against enemies due to fear of a war of assassins.

Actually, TARP and the bailouts were a reaction to the crash, not the instigators.

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Community Leader
Registered: 01-25-2010
Tue, 12-06-2011 - 6:17pm

I don't know what you're talking about regarding "direct strikes" or "war assassins."

dragowoman

iVillage Member
Registered: 09-30-2011
Tue, 12-06-2011 - 11:27pm

I don't know what you're talking about regarding "direct strikes" or "war assassins."

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Community Leader
Registered: 01-25-2010
Wed, 12-07-2011 - 1:48pm

"I'm all for campaign finance reform.

dragowoman

iVillage Member
Registered: 12-29-2011
Thu, 12-29-2011 - 1:32am

There was nothing wrong with the regulation (up until banks were ordered to loan money to poor people), what is wrong is the government we pay to do oversight isn't doing its job (deliberately not doing its job).

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Community Leader
Registered: 01-25-2010
Thu, 12-29-2011 - 1:04pm

Yes,the so-called oversights are not working as the banks and their shareholders are only interested in profit at any cost to the public.

dragowoman

iVillage Member
Registered: 02-05-2011
Thu, 01-05-2012 - 2:22pm
Part of Democrats seeming to own the creation of the housing bubble more is their leadership considers demagoguing Republicans as an art form. Any time someone like Bush would try to limit bad loans, someone like Pelosi would say people will die, women will die, or suggest Bush was racist. It's just the style of Democrats.

It's presented in this forum with less artistic form daily.
iVillage Member
Registered: 10-25-2006
Thu, 01-05-2012 - 3:57pm

Bush and the GOP weren't really trying to limit bad loans.

-----------------------------------------------
http://www.pnhp.org/news/2009/october/meet_the_new_health_.php

http://www.youtube.com/watch?v=DQTBYQlQ7yM