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post #574 Старый 05.02.2009, 10:38
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"government interventions into banking, insurance and healthcare sectors were necessary evils. Did you think it was better to allow the banks to fail?"
WRONG!!!
Government policies of telling banks whom to lend money and under what terms (see "Community Reinvestment Act" of 1997) are primarily responsible for the mess we have today with sub-prime mortgage and mortage backed securities. Banks and insurance companies are at fault as well for purchasing these securities, but the government action was the "root cause". Government needs to get out of the business of telling banks who to lend money. Once banks were settled with this bad debt they had no choice, but to offload it to institutions like Fannie May and Freddi Mack.
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Новые фотки - у дочери на дне рождения. 16 лет. Very BIG DEAL !!!
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Натан Мэвэ
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