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<blockquote data-quote="Bagels" data-source="post: 1186256" data-attributes="member: 43436"><p>LOL!!!</p><p></p><p>Who pushed for the ability for banks to be involved in risky investments? Suddenly BoA, WaMu, IndyMac, etc. can shed themselves of responsibility of the loans they write. What could possibly go wrong with that scenario? And when "entitlement-minded" people walk into a bank & speak with a highly educated financial adviser who sells them on the concept of a risky loan & why they should use such loan to buy more house than what they thought they could afford, you blame them? Really? Especially given how long we've deemed such process to be taboo (e.g. it's incredibly difficult to obtain a mortgage)? Even the mastermind behind the original idea that convention banks should be allowed to make investments has since rescinded his position, proclaiming that most people in position of authority will always abuse it if they feel it can generate a few bucks. </p><p></p><p>The only sad thing about the financial crisis is that the trusted individuals who masterminded it walked away with billions of dollars in personal wealth -- sometimes in the form of a cash bonus as a parting gift. These people are criminals and belong in jail, with their wealth taken away and paid as retribution to the investors they defrauded.</p><p></p><p>And ObamaCare... given that as the steep decline in insured Americans continues has lead toward an epidemic in this country, what do you think should have been done? Hmm... the quality of health insurance you receive is tied to your employer... the amount of profits generated is tied to your health insurance. Gee, sounds like a recipe for success!!!!!</p></blockquote><p></p>
[QUOTE="Bagels, post: 1186256, member: 43436"] LOL!!! Who pushed for the ability for banks to be involved in risky investments? Suddenly BoA, WaMu, IndyMac, etc. can shed themselves of responsibility of the loans they write. What could possibly go wrong with that scenario? And when "entitlement-minded" people walk into a bank & speak with a highly educated financial adviser who sells them on the concept of a risky loan & why they should use such loan to buy more house than what they thought they could afford, you blame them? Really? Especially given how long we've deemed such process to be taboo (e.g. it's incredibly difficult to obtain a mortgage)? Even the mastermind behind the original idea that convention banks should be allowed to make investments has since rescinded his position, proclaiming that most people in position of authority will always abuse it if they feel it can generate a few bucks. The only sad thing about the financial crisis is that the trusted individuals who masterminded it walked away with billions of dollars in personal wealth -- sometimes in the form of a cash bonus as a parting gift. These people are criminals and belong in jail, with their wealth taken away and paid as retribution to the investors they defrauded. And ObamaCare... given that as the steep decline in insured Americans continues has lead toward an epidemic in this country, what do you think should have been done? Hmm... the quality of health insurance you receive is tied to your employer... the amount of profits generated is tied to your health insurance. Gee, sounds like a recipe for success!!!!! [/QUOTE]
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