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The Q now is, with gov't being such a stake holder in the banks, will capitalism flourish? ?
Gov't has proved for centuries that it has little vision. The military fights the last war, gov't planning for disasters is non-existent or comes up pathetically short.
Please (as one has already) go on and on about Freddie and Fannie. The GED's got into trouble BECAUSE of the problems in the market; they did not cause it. Trolls, go awa we do need a serious discussion in this country about the future of capitalism. It obviously is going to change, and an open discussion is needed.
3 Answers
- FOALv 61 decade agoFavorite Answer
It was Senator Christopher Dodd and Congressman Barney Frank, both Democrats, who denied that there were any problems, who refused Bush administration requests to set up a regulatory agency to watch over Fannie Mae and Freddie Mac, and who were still pushing for these agencies to go even further in promoting sub-prime mortgage loans almost up to the minute they failed.
Obama supported them all the way.
The republicans and allen greenspan have tryied for years to stop the stupid policies.
they can only be stopped by a republican balence in congress.
- Eric HLv 71 decade ago
I think the question should be, "Is capitalism the right road for today?"
Every other civilized country has some form of socialism.
Capitalism may have brought you here, but it may be an obsolete tool for the future.
At a minimum, an open discussion on the subject should be held.
