One of things that I was always curious about is why the govt didn't restructure mortgage debt and re-value property back to pre-bubble levels
It would have cost the government $2 trillion to buy every sub-prime mortgage and retire it.
But that's Communism
Instead, the government (by way of the private bank known as "The Fed") gave $16 trillion - free and with no strings attached - to Wall Street, the very people who engineered the destruction of the American economy in 2008.
It would have cost the government $2 trillion to buy every sub-prime mortgage and retire it.
But that's Communism
Instead, the government (by way of the private bank known as "The Fed") gave $16 trillion - free and with no strings attached - to Wall Street, the very people who engineered the destruction of the American economy in 2008.
That's known as Capitalism