What do you think the reasons for this economic disaster are?

Ultimately, the blame lies with the voters who keep choosing bad leaders who then turn to corruption and pandering to the likes of Madoff. Madoff is a Democrat.

Both Democrats and Republicans are selling out to the ultra wealthy.

The voters have failed America because the lazy criminal parasites outnumber the honest workers.

We abandoned the work ethic, and replaced it with the entitlement mentality.

Nobody wants to work, they just want cheap imports at Walmart. The only ones working are the illegals, and they're breaking the law.

People let politicians lie to them and cheat them, and they don't care. As long as their side wins, they don't care.

That's why the USA is going down the tubes. This country was built on honest hard work.

Nobody wants to do that anymore.

1) Corporate greed is probably the number one thing. But the greed wouldn't have destroyed us if it weren't for the fact that it is backed by the government. The free market system says when a company manages itself badly, it fails, and it will always fail before it gets really big if it's consistently managed badly. However, big corporations have a lot of money invested in their congressmen, primarily democrats but with a lot of republicans in there too, and they know their buddies with all the power will give them golden parachutes if they screw up, so they tend to do things that end up as screwups.

2) Government regulation has its hand in the disaster. First of all was the Fair Housing Act with all of its little friends that went along with it. Before you label me a racist, hear me out. I read about a 20 year old working 2 minimum wage part time jobs who under FHA was able to strongarm a loan out of a bank to buy a house. It's pretty much guaranteed that she's going to default on it, because she never had any intention of going to school or getting a full time job, and if worse comes to worst, she'll just move back in with Mom and Dad. This story is actually incredibly common, and I have friends who worked at banks who felt sorry for these people that the government was taking the privilege of understanding finance away from them.

Glass Stegal was repealed and this allowed more banks to make risky investments. This was bipartisan. Although two Republicans wrote the bill, Clinton signed it into law.

Then the democrats were pushing banks to give loans to those who couldn't afford them. This was pretty much a Democrat thing, although Bush did little to stop it, even accepting the credit for minorities getting their own homes under his admin.

Cap and Trade didn't get us in the mess we are in, but it could be one of the reasons for the slow recovery. The dems are doing things that make businesses even more cautious about hiring and this is slowing the recovery.

Don't argue with your boss over politics. If someone is silly enough to make that mistake, I wonder what other mistakes he might have made that resulted in him being without a job.

The illuminati

http://www.newswithviews.com/Hayes/gianni25.htm

There was a little oil trigger about 1 1/2 years ago, then the thing with the banks not wanting to eat all the bad loans they made was the real problem. If any of us was threatened with going out of business then too bad for us. The banks are powerful enough that they don't have to pay for their mistakes, that's our job

The biggest reason is the clinton admin wanted to start implementing this global economy so he started enticing people to come illegally from mexico and south america then forced banks and lending companies to give them money even if they weren't eligible,Bush spending billions on a war hurt but wasn't the back breaker barney frank and clinton killed this country and now an even more global government has come in and given billions more to the rest of the world to try and level the playing field.

Let see when did it start down hill 2006 that is the change of guard in congress...we was 1.3 trillion dollar in debt Obama 11 months in 3.6 trillion and that not counting cap and trade or that health care

Had the ratings agencies done their jobs honestly, I trust the Market never would have allowed this to happen.

It was greediness and speculation.

Your boss need to know about free market.

Deregulation and the price of Oil had a domino effect .

edit : deregulation of Banks and corporations > which gave them the right to lie cheat and steal.