Quote:
Originally Posted by justinstrife
The Government had a role in this whole crisis. As did the lending industry, and the consumers as well. Unfortunately none were allowed to fail, and the economic repercussions continue...
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Several investment firms were allowed to fail. The bigger companies weren't because as bad as things are now, they would have been much, much worse if companies like AIG went under. Of course I already know there's nothing I can say or do, short manipulating timelines, that will convince you.
Though I do agree with you that it wasn't just the fault of the lending firms. Everyone had a hand in causing this, from the government failing to put proper regulations in place or even adequately enforce the ones that were there, to the companies that attempted game the system by treating bad debt as a commodity among many many other things, to the consumers who attempted to live far beyond their means by buying everything on credit. The only question is how much of the blame each party has. I put the majority of it on the financial companies and their putting short term profit over long term sustainability.