commanderkai commanderkai:
bootlegga bootlegga:
I didn't realize the government was the one who issued all those bad mortgages and debts around the world.
Um...they encouraged it with all these Edit: Forgot to finish...heheh.
different Community Reinvestment Act and other sorts of garbage.
If it was the government's fault, why did Canada not have a subprime fiasco? Oh yeah, we had a stronger regulatory regime which basically prevented it. Same with all sorts of other problems with toxic debt, mega-mergers of banks and all the rest.
Your own argument actually proves my point that a more government involvement was a good thing, as it prevented a lot of problems that Dubya and Co (both the Dems and GOP) allowed to happen to allow the economy to "boom".
commanderkai commanderkai:
$1:
Or that they forced GM, Chrysler and Ford to make SUVs and pick-ups instead of smaller, more efficient cars.
Brilliant plan. Produce stuff North Americans didn't want until a sudden increase in gas prices. The reason why the Japanese had all these small cars ready was because their main market, aka Japan, basically could only support small cars due to the high density construction of their cities.
Why do you think just before the whole gas price increases, Toyota and other Japanese car companies were releasing SUVs and pickup trucks.
Of course they did. It always makes sense to alter your product for foreign markets. Any idea why two litres bottles of Coke don't sell well in Japan? Most have small fridges that can't hold them (like the bar fridge many kids have in their dorm). Same goes for Japanese automakers who hear criticism of their product not having enough power or payload or space or whatever.
The big difference is that unlike the Big Three, the Japanese companies weren't totally dependent on SUVs and pick-ups for profitability. When that market collapsed, they had something to fall back on, the Big Three didn't.
commanderkai commanderkai:
$1:
It was corporate greed and weak regulatory systems that caused this crisis, not the government.
How about it's all of their fault? What's with this whole one or the other thing? The US not regulating its own "government corporations" aka Fannie Mae and Freddie Mac, as well as encouraging private banks to give out loans to those who really couldn't afford it, on top of corporate stupidity?
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Once again, compare them to their Canadian equivalent. Ours are better regulated and restricted, which prevented a massive subprime crisis like they had in the US.
The US government (and that's everyone, not just Dubya) is partly to blame as well, but it was corporations that ultimately lent out hundreds of billions in mortgages to those who couldn't afford them.
Why is it that many conservatives get offended when a criminal offloads responsibility on society for his wrongdoing, but has no problem with corporations doing that?
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