samhill wrote:If banks & big business are so great how did we get into this mess, rest deleted
1. The banks did exactly what congress (Fair housing act, Barney Frank, Chris Dodd, Bill Clinton et al), mandated them to. Fannie and Freddie created the market for junk mortgages so standards were relaxed so people were allowed to buy more house than they could afford. Banks on their won, would NOT have allowed these mortgages to happen, because they were junk, would have been unsaleable, and would have been bad business. The housing bubble can be laid at the feet of the federal government, the banks were just a tool. (I used to write mortgages before you could get interest only loans, no documentation loans, etc. It all works great if housing continues to rise, which of course can't happen forever)
2. Medical monopoly - I agree the medical industry needs tweaking but blaming the insurance companies and medical companies is too simplistic. If they're all making these gobs of money everyone seems to think they are, why aren't there stock prices soaring?? You should just be able to by some baskets of medical stocks and health ins companies, sit back and watch the money roll in. It's not happening. Try and be an insurance company collecting $15,000 per year in premiums per person. Now have a few people need a heart transplant ($350,000), some prolonged cancer treatment ($$$$$$??????). etc etc. Medical technology has advanced so we can do all these things but they cost $ and a big part of that is the malpractice insurance costs. Tort reform HAS to be a part of the solution and the dem plan totally ignored it.