• The Causes and Effects of the 2008 Financial Crisis
    9 replies, posted
[video=youtube;N9YLta5Tr2A]https://www.youtube.com/watch?v=N9YLta5Tr2A&feature=youtu.be[/video]
I expected a shitty video blaming the government and regulation for the credit crisis (because that's the type of economics videos that seem to be posted on Facepunch lately) but this video was actually pretty accurate, if a bit simplified.
[QUOTE=Helix Snake;50570883]I expected a shitty video blaming the government and regulation for the credit crisis (because that's the type of economics videos that seem to be posted on Facepunch lately) but this video was actually pretty accurate, if a bit simplified.[/QUOTE] I may be a screech owl in SH but time to time I try to shit out quality.
Here is the original, high quality version of the Crisis of Credit: [media]https://www.youtube.com/watch?v=bx_LWm6_6tA[/media]
[QUOTE=Helix Snake;50570883]I expected a shitty video blaming the government and regulation for the credit crisis (because that's the type of economics videos that seem to be posted on Facepunch lately) but this video was actually pretty accurate, if a bit simplified.[/QUOTE] I do not blame regulation. What the government should have done is soften the blow to the working class and below, but let the corporations responsible sink and burn. By bailing the corporations out, they will only encourage the same behavior which will lead to the same melt down.
[QUOTE=Dayzofwinter;50571388]I do not blame regulation. What the government should have done is soften the blow to the working class and below, but let the corporations responsible sink and burn. By bailing the corporations out, they will only encourage the same behavior which will lead to the same melt down.[/QUOTE] What the government should have done is not repealed laws that kept the banks from doing that shit in the first place. And now, thanks to conservative propaganda, a large percentage of the population blames regulation for the financial crisis, not lack thereof, and the same shit is just going to happen again. Face it, the reason that the banks did that were because they were allowed to. And the reason they were allowed to was because regulations were lessened. You can't just let the corporations "sink and burn" because the ones responsible for the crisis weren't the only ones affected.
[QUOTE=Helix Snake;50571433]What the government should have done is not repealed laws that kept the banks from doing that shit in the first place. And now, thanks to conservative propaganda, a large percentage of the population blames regulation for the financial crisis, not lack thereof, and the same shit is just going to happen again. Face it, the reason that the banks did that were because they were allowed to. And the reason they were allowed to was because regulations were lessened. You can't just let the corporations "sink and burn" because the ones responsible for the crisis weren't the only ones affected.[/QUOTE] Both parties were responsible. This finger pointing solves nothing and will enable another meltdown.
[QUOTE=Dayzofwinter;50571482]Both parties were responsible. This finger pointing solves nothing and will enable another meltdown.[/QUOTE] People of both parties were responsible, but the policies that lead to the crisis WERE conservative policies, even if they were enacted by democrats like Bill Clinton. It's not "finger pointing" when the conservatives are the ones that are setting us up for a similar disaster to happen again by perpetuating the lie that the crisis was caused by over-regulation.
[QUOTE=Dayzofwinter;50571482]Both parties were responsible. This finger pointing solves nothing and will enable another meltdown.[/QUOTE] I agree w/ helix, and have a simple solution. What if we made legislation to regulate things and prevent meltdowns like this? Should be obvious, but like was said conservatives lie about the cause and to this day push for deregulation of businesses with no obligation or even thought to responsibly self-regulate. If anything will cause another meltdown it's the one of the two parties that didn't learn from their mistake. I'd finger point to that any day.
That actually made more sense than i expected.
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