Credit Crisis, Government Myth - "We need more regulation"
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We do not need more government regulation or oversight. We need to hold our government accountable for its actions.
Tags for this video: government accountability crisis sub prime mortgage community reinvestment act acorn association of organizations for reform now financial regulations politics obama mccain wall street greed global banks investment firms mike nifong corruption credit buffett warren
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Btw, just which country you think has less regulation than the US/UK?
regulation is about sensible, rational practices.
regulation does not mean "what the government says"...governments come and go and act in their own short-term interests and those of their campaign funders.
That's what the fundamental regulatory documents of the US were written to deal with...the constitution etc.
regulation = accountability
from bondage to spiritual awakening;
from spiritual awakening to great courage;
from courage to liberty;
from liberty to abundance;
from abundance to complacency;
from complacency to apathy;
from apathy to dependence;
from dependence back again into bondage.
1990s deregulation wasn't a whole lot and was brought about to allow commercial banks to branch into investments already allowed in European banks freeing them to compete better on the global scene.
But you overstate the impact in this crisis of social engineering-type regs pressuring lenders to give home loans to low income borrowers. Mortgage securitization has ballooned real money losses from mortgage defaults 100-fold or more
this propaganda. Google: "subprime lending's
partner in crime."