Universal government health care, housing, autos, and food supply is elimination of personal freedoms Re: Re: Hi, I'm new and have a question please

[Guest guest]

This would be nice...too bad it makes so much 'sense'!

[Guest guest]

This is basackwards. It was government regulation that CREATED the

mess. The free market wasn't allowed to work. Government NGOs with

quid-pro-quo with government created the lending standards and required

banks to adhere to those standards and took them to court and when

they didn't. Fanny and Freddie then bought those loans that met those

weak standards (thank you Barny for this crap called the community

redevelopment act!) and resold them on the market as packages. These

are the toxic assets. The government regulation required these products

to be held on the book at " mark to market " accounting standards. What

this means if you were told you had 30 minutes to sell your house, that

is the best price you could get! How about $50 bucks! When the market

dried up for mortgage securities, the balance sheets were, according to

the accounting standards, in bad shape (your mortgage was considered

worth $50 or less) even though a bank still had it's normal cash flow -

nothing else had changed and would otherwise sill be profitable. When

the accounting regulation requirements lowered the price of the mortgage

securities, the banks were required to find addition capitol to fix the

balance sheets. In reality, a simple accounting change would have

overcome almost the entire banking issue and the problem would never

have occurred if government hadn't lowered lending standards, required

banks to adhere to those standards, and then used Freddie and Fannie to

buy up and resell those loans as packages. Freddie and Fannie are the

large money sinkhole that stuck this economy and it was under the direct

control and direction of the government regulation.

So no, it wasn't the lack of over site that caused the problem, it was

regulatory and accounting regulation that created it, perpetuated it,

and was the ultimate cause of it.

The free market works. We haven't had one yet.

Steve

Roni Molin wrote:

> Oversight was taken off the banks and deregulated

> in the mortgage market, and the food care industry

> and look where this has led us. The problem with

> ALL idiologies is that the ideas are good, but the

> people that administer and use them are not. If

> you could change people, I don't think it would

> matter much what system was used.

>

>

> Roni

> <>Just because something

> isn't seen doesn't mean it's

> not there<>

>

>

>> it's really OK and even possible to create a " healthcare " system that

>> works. :just have to get over ignorance which prevents it from

>> happening. what's really going on here is that many accepted medical

>> practices and meds are worthless. then " guvmint " won't pay for them!

>> gracia

>>> Tell that to the lady trying to get needed tests done under the

>>> socialist system in the UK to whom I replied. Or to any of the

>>> thousands of patients who come to the US from Canada every year to get

>>> needed medical care that they cannot get at home. Or to any of the hypo

>>> patients in the UK trying to get Armour. You _are_ aware of that

>>> situation, are you not???

>>>

>>>

>>> .

>>> .

>

--

Steve - dudescholar4@...

" The Problem with Socialism is that eventually you

run out of Other People's Money. " --Margaret Thatcher

" Mistrust of Government is the Bedrock of American Patriotism "

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