utahcoyote

Which Candidate Will Get to Spend the $700 Billion?

The utter unwillingness to blame securitization and its role in this collapse baffles me. The radical right will always blame government, and never identify the root of the matter. The development of more and more exotic financial instruments, and the usage of those instruments off the books, in order to create ever greater degrees of leverage is the problem. The insisting that its all fnm/fre's fault is so utterly naive and apologistic for the abuses within the financial sector.

I will agree that the loose money policy by the FED was a major contributor, but so was unfettered financial deregulation that allows companies like AIG, which had a solid business model, to venture off into exotic areas that it had no business being in.

Even John McCain's idea of buying mortgages is unworkable because of the way they have been sliced and diced so that noone can decipher it.