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<p>[QUOTE=&quot;fatima, post: 1361781, member: 22143&quot;]^On your earlier comment about &quot;changing the rules&quot;, the rules were changed in 2008 when the congress and President agreed to TARP, expanded the base money supply by ~$1T (which gives the Fed system $10T) and rewarded the bad behavior of the very banks that caused this mess.&nbsp;&nbsp; They should have left it alone and let the existing bankruptcy laws deal with it.&nbsp; We would be 4 years ahead now if that had happened.&nbsp;&nbsp; Instead, they mostly signaled that it was OK to the big banks, &quot;we&#039;ve got your back&quot; and the banks continued on making every bigger risks knowing they would not be allowed to fail.&nbsp; The problem has been made worse by the fact that the Federal Justice Dept. has made absolutely no effort at criminal investigations and enforcement of the entire mess.&nbsp; Historians will look back at this and decide it was one of the darker decisions ever made in the United States.&nbsp; </p><p><br /></p><p>The results of this are again manifesting themselves as an unsustainable ponzi of money creation that is on the verge of collapse where Greece will be the first in line to go.&nbsp; The central banking system has created far far more currency that can ever be paid back and in a futile effort to fix it, they are creating ever more complicated schemes to keep it propped up.&nbsp; We haven&#039;t seen the last of this and as I said earlier, Greece is just the first example.&nbsp; There are states in the USA that are worse off than Greece.&nbsp;&nbsp; </p><p><br /></p><p>If mortgage rates need to go to 16% to save the economy, due to market forces, then they should be allowed to go there then.&nbsp; The population will just have to deal with it.&nbsp; When the Fed, government, and banking system move in to intervene to prevent the free market from operating, then they create the mess that we see today.&nbsp;&nbsp; I simply don&#039;t believe that central planning works and the results do speak for themselves.&nbsp;&nbsp; This isn&#039;t telling Americans they can&#039;t aspire to the American dream of homeownership.&nbsp; Its telling them that the taxpayers won&#039;t backstop and unfairly subsidize loans which they otherwise can&#039;t afford.&nbsp;&nbsp; Huge difference.[/QUOTE]</p><p><br /></p>

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