How extreme is it to invade a foreign country based upon false allegations? What is so wrong with shifting the tax burden back to the super wealthy? The rich just fucked your 401k hope you don't think you can get it back.
No, the government fucked up my 401K by failing to ensure that their regulations were being enforced. The government with it's massive safety nets of the FDIC, SIPC, and SEC failed to do the job that it has said that it was going to do. As a result of this failure, bankers, who believed in this safety net, were able to acquire the kind of leverage that would not be granted a normal investor. Due to this leverage they ended up with a giant house of cards that rested on the fiction that the FDIC, SIPC and SEC were watching things.
It also rested on the fiction that Fannie Mae and Freddie Mac were making rational decisions instead of decisions based on feelings. When it turned out that Fannie Mae and Freddie Mac were making bad decisions that were based on the feelings that everyone should have a home regardless of their ability to actually pay for the home the entire house of cards collapsed.
This crisis is a failure of regulation, not a failure of the free market. The free market adapted to the rules that the government was pretending to be enforcing. When the government proved incapable of actually enforcing those rules, and failed to enforce them equally (giving favored status to the GSEs) is when the problems started.
Bad mortgages made to people who could not afford them on the idiotic premise that housing prices always go up. The only thing that the bankers were guilty of was believing the hype of advertising, failing to properly vet the mathematical formula they were using to gauge risk, and believing that the government could actually control the markets. If the government could control the markets this situation would have never occurred. The government however can not control the markets, and thus, here we are, plummeting deeper into an abyss with a shovel in one hand and the BS that Obama's feeding people like you in the other.
We had hit a bottom, but Obama dug us a new hole to continue our descent into a financial quagmire.
They have since moved but Brad Pitt had a condo two door s down from our friends last time we visited... he was a nice guy...hate to think of him as crispy bacon. Bacon? yah, met him too...