by geol19 » Thu May 03, 2012 8:06 am
Sadly you are trying to connect the dots between corporate business practices, government and theology or morality. Government has regulated businesses out of existence and have taken bold steps in the interest of "being fair to the people" but unfortunately "fair" is not only subjective, but fluid. The Obama administration passed legislation against credit card companies and banks and the end result was the lowering of available credit and they had plenty of warning as to when the "new rules" would take affect so that they raised interest rates and changed their fee structures. When lowering available credit, they also, by implication lowered their clients credit scores which caused many to not qualify for the lowest interest rates in housing markets in decades. "Good" and "Evil" are theological concepts which don't have a place in this conversation. Since the largest single factor in the recession was the collapse of the housing industry, the lowering of credit scores by lowering available credit made the recovery even slower than it would have been. The government has yet to hold Fannie Mae and Freddie Mac accountable for their parts in the whole mess and we as tax payers are continuing to pump more and more billions of dollars into these psuedo-governmental agencies. We have transferred enormous amounts of financial exposure from the private sector to the government from not only mortgage loans, but school loans as well under Sallie Mae. I guess if you believe that the government should control major blocks of the economy than "Good" is the result, but if you believe in smaller government and the free market system then "Evil" is the result. As with many these days you apparently have the belief that everything "Democratic Party" initiated is good and everything "Republican Party" initiated is bad and that is just not the case, nor is the reverse true either. The concept of the "two-party system" is to allow for debate and compromise to ensure that government is acting in the best interest of the people and Washington seems to have lost that concept all together.