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Comment Re:Unfortunately, UK has become Uncle Sam's lapdog (Score 2) 1065

Hell, their people have lost control over their government and their government has lost control over its sovereignty to the EU. All the "savings" made by the austerity in the UK in the past few years have been eaten by the vast increases in the UK's mandated "contribution" to the EU. That means that the average joe there pays like they're getting socialist benefits while getting fewer and fewer of them. And the national debt there is still going the wrong direction.

Comment Re:Subsidies inflate pricing. (Score 1) 1797

if you'll recall, at the time of the crisis banks were able to immediately pass loans to third parties and off of their books and thus take almost no risk on the loans. Because of this, banks willfully turned a blind eye to all sorts of fraud, thus "liar loans", "no-doc loans", and "ninja loans". In so doing they certainly were not making underwriting decisions "consistent with safe and sound operation *at any level of the socio-economic spectrum* including that mandated by the CRA. Thus the CRA was a contributing factor, but it was one among many, including especially failure of the federal and state governments to enforce existing regulations.

The best part is that nothing has been structurally fixed with the regulatory structure. Elizabeth Warren got shoved out and the CFPA is a paper tiger as a result of the same politics. None of the "Too big to fail" entities were broken up after stabilization like we were promised would happen. Thus we can repeat history as soon as consumer sentiment becomes as enamored of debt as it was a few years ago.

You don't get to cherry pick your contributing factors, just as the other side doesn't get to.

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