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What caused the financial crisis. Who is to be blamed? bankers? Capitalism? wut r the reprecussions?

What caused the financial crisis. Who is to be blamed? For example is it the capitalist system, lack of supervision, bankers, etc. What are the repercussions? Is it blown out of proportion or is it as bad as the Great Depression?

We're not even in a depression much less a great one! Its barely a
recession! People blowing it all out of proportion could drive us to
one though!

Our financial "situation" was caused by many factors. If we'd followed
Carter's plan and gotten off oil back in the 70's we wouldn't be in
this situation.

If individual Americans wouldn't have gotten greedy and wanted more
than they could afford and then not paid for it we wouldn't be in this

If bank execs hadn't gotten greedy and made bad loans just because they knew the gov't would back them we wouldn't be in this situation.

We didn't have lack of supervision. Someone was watching when Freddie Mac and Fanny Mae started with their corruption and brought it to the attention of our representatives and many of the dems didn't want to hear it! They actually accused them of going on a witch hunt! It was on Yahoo!

Who is to be blamed? We The People!!!
Yeah, I know its not a popular answer - not what anyone wants to hear but its the truth!

We need to live within our means and do our jobs as good citizens and educate ourselves on the issues and our representatives and vote out those that are not representing our best interest.

The whole oil situation is the result of politicians oil companies and car manufacturers all being in cahoots with one another!


There is no crisis, ..that was invented when McCain got a boost in the polls after the GOP convention where he introduced Sarah Palin. A few phone calls were made from the Democrat controlled Congress, and next thing you know a few Investment houses announced they were going to have to declare bankruptcy. Obama got his small lead back, ..a surge of phony voter registrations added a bit more to the lead, ..the Wall Street bankers were paid off with the $700 billion, ..and everything looks set for "our glorious arrival in Paradise" on Nov. 4th. After the election, the stock market will return to normal, and we can all go back to our grueling day jobs.


then how do u justify repercussions and declines that happened all around the world? stock markets everywhere witnessed remarkable flops. If the USA, the world's most vital trading partner of all countries, had not, really, witnessed any crisis, world markets would not have either! There is a crisis, maybe it would not be as severa as any of the past ones because, supposedly, Treasury and Fed and the economists have developed more effective tactics to save the economy than in the 1930's.


The "repercussions and declines" worldwide were the result of the Democrats manipulating the markets here. Maybe they knew they would provoke that effect, or maybe it was an entirely "unintended consequence", ..either way, though, ..they wouldn't have cared: The priority was to get Obama, a hand-picked and groomed "front man" for the Democrat bureaucrats, into the White House. Government will then have the ability to dig in its heels and pull all them resources of the nation under its exclusive control (with routine payouts going to the Wall St. bankers, ..the new "cops on the take") ..."Welcome to Chicago, baby!"

The Oracle:

Oh, it's so very simple, one word: G R E E D.


The Gov. promising to insure loans to minorities who didn't have the good credit traditionally required.


The foreclosed-upon homeowners were not just minorities, it was a lot of Americans who wanted homes, ..or who took the bait and bought "upward" while rates were at a cyclic low. Minority or not, all the homebuying market was being played by Wall St. (for money) and Congress (for votes). Now back at the house-price bottom, we will sit for a minute, ..the Democrat (Obama) will get elected, ..the market will give a few days of polite "grieving" for our distress, ..and then the whole cycle will start again! (..Whee!) Will CountryWide now buy back all those homes at 50 cents on the dollar? ..If I had 50 cents, I'd buy one myself. Get in if you can, the roller coaster is almost set to take off upward again!


I believe a lot of it is politically motivated.
After election day... We will see a more steady market.


The Republicans deregulations of the large and powerful financial institutions. Allowing them to have a free for all at the taxes payers expensive. The Bush Polices and the Trickle Down Theory. All of it has backfired on the Republicans and now we are in one of the largest financial crisis to hit us in along time. And no President is going to fix it in a year. McCain is having another one of his delusional moments when he says that he can fix it in a year. This man needs a reality check. No he needs more than that he needs therapy and medication.


The Gov. should not be responsible for securing private enterprise in the first place.


Did McCain's arguments to "send enough troops to really protect Iraq from the bombthrowers" work? Yes it did. Can he have a similar outcome toward Wall Street's and Congress' "improvised explosive devices"? ..We should find out, ..and see if we could find some "peace and progress" right here! Or go ahead and vote for poverty and class warfare with the Democrats, ..they love that stuff, is their "job security".


us has grown into a debtors nation over years.. what is it that we produce and export anymore?
electronics are imported from china, software and IT money flows to India, Fuel money goes to arabs, fruits n veg are imported from mexico.
only thing US produce is weapons but no one's on war!!!

ok emotions apart...

things were overvalued.. by creating a virtual value and money for them... where as they weren't actually worth the amount. many people have still made a lot of money out of it... but finally the bubble had to burst..

who's is to be blamed: the exec's of the companies and bank's who caused the huge losses.. it was not their own money that they lost but millions of investors as well..

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