[QUOTE="SoBaus"]
[QUOTE="surrealnumber5"] the reserve rate is not set by the evil banks you want to blame for having no reserves but is and was set by the same people you want to have more control over the banking system. i find this quite perverse, but you also just called banking a free market so i guess this is one of those grain of salt moments.....
FYI: i dont venture blogsites and aside from here and facebook i dont do net pontification or interactions with others outside of those sites, i cannot be a political rube, as i have no one to follow.
you want banking to be a free market system, and it is anything but that, and you are even willing to ignore the CENTRAL bank in our Central bankingsystem and all of its actions over the last 25 years.
surrealnumber5
The federal reserve did not force banks to switch from giving home loans to people with a 650 credit rating, with 20% down... to giving variable interest home loans to people with a 500 credit rating and no money down.
They didnt force banks to overleverage themselves and take on debt they cant repay. They didnt force AIG to insure subprime mortgages.
all of the bad decisions that led to the market collapse were made by an unregulated free market.
Interest rates didnt cause the recession, in fact the fed was what prevented a great depression.
i think you have now filled my luz quotient for the day, have a good one champ.edit: i dont intend to troll, but i am done, take it how you wish, this post is not meant to invoke any ill feelings for any related party
I didnt take it personally, every has different opinions on politics. Naturally i think mine are correct... and might just maybe suggest a little further reading on the subject, if you get bored :P
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