Linked by Flatland_Spider on Wed 24th Sep 2008 21:56 UTC
In the News Reason Online, the online presence of libertarian political magazine Reason, is featuring a book review of Cory Doctorow's book, Little Brother. Little Brother re-imagines George Orwell's classic, dystopian novel, Nineteen Eighty-Four, as a modern cyberpunk thriller for a young adult audience.
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What is this CNN?
by ratatosk on Thu 25th Sep 2008 14:03 UTC
ratatosk
Member since:
2008-07-01

If one were to Google Ron Paul it'd easily be possible to find opinions expressed that would find government culpable. While the crooks are on Wall Street various forms of government interference/intervention provided a framework that now allows this crisis to occur. The subject is complex but at a basic level most ask: "How did so many default on mortgages?" This is directly related to well-meaning government action:

http://en.wikipedia.org/wiki/Community_Reinvestment_Act

This act *required* the lenders to give to the "uncredit worthy" and provided special treatment for Fannie Mae and Freddie Mac.

Edited 2008-09-25 14:08 UTC

Reply Score: 2

RE: What is this CNN?
by adkilla on Thu 25th Sep 2008 16:10 in reply to "What is this CNN?"
adkilla Member since:
2005-07-07

You may then want to read about this law:
http://globaleconomicanalysis.blogspot.com/2008/05/bankruptcy-refor...

and this documentary:
http://books.google.com/books?id=zjHTClK0qyQC

You will then see how FICO works and that the Federal Reserve is owned by private banks. Ever wondered why credit cards are issued to freshman college students in America? In europe and asia, you need to demonstrate your ability to repay credit (either with assets or a job) even before you could get your paws on a credit card.

The financial industry is too large to be regulated, they regulate themselves. In the US, if you are rich and powerful, you can lobby for any laws to be put in place.

Reply Parent Score: 3