Just so we are all on the same page.
The current financial problems were caused by individuals extending their credit beyond the means of which they could afford.
No one really seemed to mind loaning lots of money to people that couldn’t afford it because, if they defaulted, at least you had a house that was constantly increasing in value.
This all collapsed when – lo and behold – housing prices decided to not follow the “never decline” rule and promptly start to decline in value.
This increased the numbers of people that defaulted on loans that they could afford. Which caused banks that provided too many people too much credit.
Which has, in turn, caused the government to spend trillions of dollars bailing out said banks.
Which hasn’t worked out all that well, because bad banks are, well, bad banks.
So the new plan is – to extend more credit to consumers?
Please, someone tell me why we are hostage to these morons in Washington? And how do we get them to stop?!