In response to:

Stupidity Laws Could Have Stopped Obama

JW94 Wrote: May 22, 2012 1:59 PM
The public WAS a part of the shareholders. And all you want to blame is the gov't and the poor. How many poor people are in Las Vegas (thelargest number of Foreclosures)? The reality is that everyone was making money until the bubble burst. The derivatives were toxic assests. Did the banks have Federal Marshalls holding guns to their heads to buy these derivatives? Incidentally - JW's economic theory - 2008 was the year the American Public "achieved" a net negative Savings Rate - that's the pin that burst the bubble. The bubble itself resulted from government and bank investment policies.

Democrats have been crying for the last few weeks because the official bank of the Obama administration, JPMorgan Chase, lost $2 billion dollars in a hedging strategy that will likely get a few more folks fired from the firm.

Democrats have used their deepest Vox Populi to decry loose bank regulations that allowed this outrage to happen.

Their argument would be especially good if the bank regulations they are criticizing weren’t the result of large Democrat majorities and signed into law by President Occupy Wall Street himself just as the Democrat majorities unwound.

As Reuters notes “The 2010...

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