Quote from: thoughtfan on February 13, 2013, 10:44:20 PM

Quote from: cypherdoc on February 13, 2013, 08:11:00 PM

Quote from: thoughtfan on February 01, 2013, 03:57:40 PM

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i think that is ridiculous. when there comes a question as to who to blame, ask yourself, where did all the money go?

politicians make what, a couple hundred thousand a year? what does Jamie Dimon or Lloyd Blankfein make? how many hundreds of million a year let alone all the ancillary bonuses in the millions to investment bankers on Wall St?

tell me who is in control.

If your only criterion for blame is the beneficiary then I can see how you would conclude the bankers are proportionally immensely more responsible for the problems than the politicians. But some of these big bankers and the politicians were (are) in each others' pockets - at least if looking back at how Gordon Brown as Chancellor of the Exchequer (prior to becoming Prime Minister) in the UK behaved is anything to go by. These politicians want power; and to do that their parties need funders. From what I understand it's even worse in the US. But that you seem so incredulous that policies brought in for popular political gain, followed by more to try and solve the unforeseen problems of the first, followed by more to try and solve those etc. would leave us in such a precarious position is surprising to me. In the UK they're doing it again. Bringing in policies to guarantee first time buyers mortgages to encourage banks to lend, thus starting the balmy process once again.

I do believe it is a myth that entirely free markets would provide the mechanism to banish boom and bust to the history books but without all the laws and protectionism both preventing newcomers from entering the market and from irresponsible establishments reaping the consequences of their ridiculous risks - all the fault of politicians - and those who vote them into power - I can not believe we would not be much better off.

here in the US we have over 1000 financial industry lobbyists, most of them former politicians the number of which dwarf any other industry, running around The Hill pushing the banking industries agenda and promising future corner office jobs on Wall St. What would you expect the politicians to do, ignore them? perhaps this is why your politicians are willing to ram home another generation of mortgage guarantees to home buyers?

the corruption of money is what has enabled this whole mess on a global basis. and guess who owns the money/printing press?