Well the number one culprit would have to be greed an unquenching greed and dishonesty. The financial service sector wanted to play off their troubles like it was no big deal all along they knew they were headed for trouble. There is no regulation in the industry, these companies can say whatever they want to say and they did.
The truth caught up to them and their real lack of assets and now they are falling like a deck of cards. It was all just numbers floating around with no one to check and see if the numbers or money was real. Apparently it was not.
Which brings me to the real cause I believe all of this is happening. It is our cowardly, incompetent, no good, useless US Government. Scared to fight for the American people and instead backed down to Corporate America. Letting them have their way.
These companies did not want regulations from the Government and now they are screaming for the Government to bail them out. How about bailing the American people out of your mess.
These companies with their lobbyists buying Washigton and making their own laws so they could make tons of money. They did not want regulation so the Government cowardly folded to big money and the companies got their way. Once again Washigton doing what is best for their Corporate buddies and not the American people.
Lobbyists run Washigton and elected officials. The 2 candidates running for President both have lobbyists in their campaigns. They are both talking change, ok get rid of your lobbyists and stop taking their money. That’s not going to happen. Both candidates are liars.
You can thank your elected officials in Washington for this mess. Their Republican and Democratic parties where filled with money not to regulate the industry and big companies won and the American people lost, as usual. Both parties are guilty.
Every politician that sits in Congress should be fired and sent home. They have done a terrible job looking after the American Dream. They need to serve the people of America not special interests.
I think you get the picture.
More big companies are going to fall and so is the financial landscape of America and the rest of the world is going to pay also.
The financial wound has just been opened and bleeding and the wound continues to get bigger. When will it end? Are we headed for a depression?
Time will tell.
Ron Randall
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