John Redwood claims in his blog that regulation was the root cause of the credit-crunch and the Fannie Mae and Freddie Mac collapses.
This point is reiterated in the Adam Smith Institute blog post. 'When markets are changing rapidly, market players can easily miss the signal of things going wrong from the noise of universal change. Until it's too late.' - says the author, Dr Eamonn Butler.
The signals were there a couple of years ago. Everyone knew that subprime lending was highly risky and subject to a large percentage of foreclosures. These players are supposed to be experts in the 'market'. They weren't that clever then, were they? Mind you, most of them have walked away with their fat bank balances, homes and pensions intact, so they've got the last laugh - now they're passing the buck for their own greed and irresponsibility.
Preposterous; and insulting to all those people conned into buying homes they couldn't afford only to find themselves out on the street.
Dr Butler can take his 'markets' and shove them up his fundament.
This point is reiterated in the Adam Smith Institute blog post. 'When markets are changing rapidly, market players can easily miss the signal of things going wrong from the noise of universal change. Until it's too late.' - says the author, Dr Eamonn Butler.
The signals were there a couple of years ago. Everyone knew that subprime lending was highly risky and subject to a large percentage of foreclosures. These players are supposed to be experts in the 'market'. They weren't that clever then, were they? Mind you, most of them have walked away with their fat bank balances, homes and pensions intact, so they've got the last laugh - now they're passing the buck for their own greed and irresponsibility.
Preposterous; and insulting to all those people conned into buying homes they couldn't afford only to find themselves out on the street.
Dr Butler can take his 'markets' and shove them up his fundament.
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