The Treasury officially confirms the $700b number was pulled out of their ass

Hahaha. I fuckin' give up with politics, man.

Let the market collapse. The country deserves it, the government deserves it. We're a nation of fuckin' FOOLS, being confronted with the consequences of our foolishness.

Alternately, that's one 'spensive Band-Aid.
 
[quote name='mykevermin'] The country deserves it, the government deserves it. We're a nation of fuckin' FOOLS, being confronted with the consequences of our foolishness.
[/QUOTE]

I'd say MOST of the country deserves it. Then there's people like a lot of us on CAG who budget their money, pay their bills on time, save money for retirement, and perform their civic duties with care. All the responsible people are gonna get fucked along with the fools, which is bullshit, but inevitable at this point. Oh well.
 
My dad retired last year, my mom is about 3 years from her retirement. Hmm maybe I should put less into my 401k instead of 10% of my check :|
 
[quote name='ITDEFX']My dad retired last year, my mom is about 3 years from her retirement. Hmm maybe I should put less into my 401k instead of 10% of my check :|[/QUOTE]
Put ten percent of your paycheck towards baseball cards. Because, in the dystopian future people will use baseball cards as currency.
 
[quote name='Friend of Sonic']Put ten percent of your paycheck towards baseball cards. Because, in the dystopian future people will use baseball cards as currency.[/quote]

lol.

No seriously, now that I am thinking about it... we CAGs might have to be more tighter with our money and instead be forced to *gasp*, buy used games from EB :O
 
[quote name='mykevermin']Hahaha. I fuckin' give up with politics, man.

Let the market collapse. The country deserves it, the government deserves it. We're a nation of fuckin' FOOLS, being confronted with the consequences of our foolishness.
[/QUOTE]

This is how I'm starting to feel as well.

This country needs a good shaking up. And at least an economic one isn't an outright violent one.
 
[quote name='mykevermin']Hahaha. I fuckin' give up with politics, man.

Let the market collapse. The country deserves it, the government deserves it. We're a nation of fuckin' FOOLS, being confronted with the consequences of our foolishness.[/quote]

YAY!

I have felt this way since John Kerry was named the guy running against Bush, he's an idiot. Every passing day it grow until about 18 months ago. I'm now hoping McCain wins and a nuclear war breaks out, the human race deserves to die.
 
[quote name='bigdaddy']YAY!
I'm now hoping McCain wins and a nuclear war breaks out, the human race deserves to die.[/QUOTE]
Not until I play Final Fantasy VII. It'd be criminal if I died without playing it.
 
[quote name='bigdaddy']the human race deserves to die.[/QUOTE]

I wouldn't take it that far, but a little suffering might be in order.
 
[quote name='Friend of Sonic']Not until I play Final Fantasy VII. It'd be criminal if I died without playing it.[/QUOTE]

Nah, that game's an overrated piece of shit. Don't worry about it, the apocalypse will not be postponed for you.
 
[quote name='Friend of Sonic']Not until I play Final Fantasy VII. It'd be criminal if I died without playing it.[/quote]

I'm fine with dieing before playing it. :)
 
[quote name='thrustbucket']This is how I'm starting to feel as well.

This country needs a good shaking up. And at least an economic one isn't an outright violent one.[/quote]

It will turn violent. Human instinct in this country will go primal.
 
[quote name='Dead of Knight']Nah, that game's an overrated piece of shit. Don't worry about it, the apocalypse will not be postponed for you.[/QUOTE]
I played through the first level for about ten minutes. I thought it had aged terribly, but my Squeenix friends tell me I'm wrong.
Is it okay to die now?!
 
[quote name='mykevermin']
Let the market collapse. The country deserves it, the government deserves it. We're a nation of fuckin' FOOLS, being confronted with the consequences of our foolishness.
[/quote]

[quote name='thrustbucket']This is how I'm starting to feel as well.

This country needs a good shaking up. And at least an economic one isn't an outright violent one.[/quote]

[quote name='bigdaddy']YAY!
I'm now hoping McCain wins and a nuclear war breaks out, the human race deserves to die.[/quote]


WRONG! And the quote below is the reason why...

[quote name='KingBroly']It will turn violent. Human instinct in this country will go primal.[/quote]

Now think...

what will pudgy, middle class, yuppies like us do to survive?

think!!!

Run into the woods and fight like the Wolverines in Red Dawn???

Leave your famliy behind and cross the border into Mexico or Canada?

HELL NO! If things truly get hyper volatile in this country (ie Children of Men style), I see about 50% of us either joining the military/police force or becoming a prison guard at a work camp. Or at the very least becoming propagandists, engineers or political tattletales for the ruling coporate enities. You'll assist in the enslavement of your fellow man just to make the credit card payment on your brand spankin new, next-gen, XboxPure.

Hopefully I am amongst the other 50% of you guys. :D
 
[quote name='level1online']WRONG! And the quote below is the reason why...



Now think...

what will pudgy, middle class, yuppies like us do to survive?

think!!!

Run into the woods and fight like the Wolverines in Red Dawn???

Leave your famliy behind and cross the border into Mexico or Canada?

HELL NO! If things truly get hyper volatile in this country (ie Children of Men style), I see about 50% of us either joining the military/police force or becoming a prison guard at a work camp. Or at the very least becoming propagandists, engineers or political tattletales for the ruling coporate enities. You'll assist in the enslavement of your fellow man just to make the credit card payment on your brand spankin new, next-gen, XboxPure.

Hopefully I am amongst the other 50% of you guys. :D[/QUOTE]

You've disturbingly given this sort of thing way too much thought.
 
[quote name='thrustbucket']You've disturbingly given this sort of thing way too much thought.[/quote]

No, I didn't think it, I Remote-Viewed it. :hot:
 
Sometimes I wish this "Tank Girl-esque future" paranoia of level1 turns out to be right.

Because I want to see the expression on his face when this nation becomes a prison state and he realizes that he failed at warning us and doing anything to stop it.

I'll work for Water and Power for the rest of my days, living in fear of the Rippers, just to think that satisfying, satisfying thought.
 
[quote name='level1online']No, I didn't think it, I Remote-Viewed it. :hot:[/QUOTE]

Oh shit. You must know someone that worked for the DIA during project stargate! ;)

As a side note, I got an interesting forward today that I won't copy, because it's too long, but it basically said this:

IF congress is considering conjuring, say, $85 billion or so for bailouts.

And IF you assume there are 200,000,000 people over the age of 18 in this country (a good guess).

Then what congress should really do to save the economy is divy that 800b to everyone as the ultimate economic stimulus package.

That's around $425,000 to everyone over 18. Taxes will be around 127,000 going right back to the gov (about 25b right back to the gov). A husband/wife team would be getting about 595,000.

People could pay off debt, mortgages, change their lives for the better, buy healthcare, new cars, money for college. All the while, the economy on many fronts would be helped, instead of rewarding corrupt organizations that already have our debt.

Do we really trust these greedy super banks over our fellow Americans, to use what is OUR money to begin with? If we are going to go into debt, maybe it should be for each person in this country to help make a difference.

Anyway, I am no economist, so I am sure it's a fantasy on many levels, but it sure seems a lot more "fair" on the surface.

OR: Why not just issue vouture's to each home owner for several hundred grand to pay off their house? Wouldn't that be the same as "Bailing out" the mortgage company?
 
Oh, those crazy Feds.

loltreasury.jpg


[quote name='mykevermin']Hahaha. I fuckin' give up with politics, man.

Let the market collapse. The country deserves it, the government deserves it. We're a nation of fuckin' FOOLS, being confronted with the consequences of our foolishness.[/QUOTE]

This.

[quote name='Dead of Knight']Nah, that game's an overrated piece of shit.[/QUOTE]

Yeah, and this too.
 
[quote name='thrustbucket']Oh shit. You must know someone that worked for the DIA during project stargate! ;)

As a side note, I got an interesting forward today that I won't copy, because it's too long, but it basically said this:

IF congress is considering conjuring, say, $85 billion or so for bailouts.

And IF you assume there are 200,000,000 people over the age of 18 in this country (a good guess).

Then what congress should really do to save the economy is divy that 800b to everyone as the ultimate economic stimulus package.

That's around $425,000 to everyone over 18. Taxes will be around 127,000 going right back to the gov (about 25b right back to the gov). A husband/wife team would be getting about 595,000.

People could pay off debt, mortgages, change their lives for the better, buy healthcare, new cars, money for college. All the while, the economy on many fronts would be helped, instead of rewarding corrupt organizations that already have our debt.

Do we really trust these greedy super banks over our fellow Americans, to use what is OUR money to begin with? If we are going to go into debt, maybe it should be for each person in this country to help make a difference.

Anyway, I am no economist, so I am sure it's a fantasy on many levels, but it sure seems a lot more "fair" on the surface.

OR: Why not just issue vouture's to each home owner for several hundred grand to pay off their house? Wouldn't that be the same as "Bailing out" the mortgage company?[/QUOTE]

thats a depressing statistic and im no economist either but id risk my 400k double or nothing that giving that much to every tax payer would help the economy worlds more than the bailouts will.
 
[quote name='mykevermin']Hahaha. I fuckin' give up with politics, man.

Let the market collapse. The country deserves it, the government deserves it. We're a nation of fuckin' FOOLS, being confronted with the consequences of our foolishness.

Alternately, that's one 'spensive Band-Aid.[/QUOTE]

Im with you. Yes I would prefer for things to go on the way they have since its a very comfortable life for me. However im all for a revolution where the government crumbles and the people overthrow it. Things are just so screwed up beyond belief and im terrified to think of the kind of debt my generation is going to have to pay off.
 
[quote name='RAMSTORIA']thats a depressing statistic and im no economist either but id risk my 400k double or nothing that giving that much to every tax payer would help the economy worlds more than the bailouts will.[/QUOTE]

Funny you say this, iv been thinking the same thing. Instead of bailing out these fucking companies why not put the damn money directly into the pockets of consumers. I think a trillion dollars in the pocket of tax payers would result in a whole shit ton of spending spurring the economy. The only problem with it is that it wouldnt teach people any good habits which is needed badly right now. The last thing we need to do is encourage people to keep spending......
 
[quote name='thrustbucket']

IF congress is considering conjuring, say, $85 billion or so for bailouts.

And IF you assume there are 200,000,000 people over the age of 18 in this country (a good guess).

Then what congress should really do to save the economy is divy that 800b to everyone as the ultimate economic stimulus package.

That's around $425,000 to everyone over 18. Taxes will be around 127,000 going right back to the gov (about 25b right back to the gov). A husband/wife team would be getting about 595,000.

Anyway, I am no economist, so I am sure it's a fantasy on many levels, but it sure seems a lot more "fair" on the surface.

[/quote]

ok, i'm no economist either. but if that scenario happened, wouldn't a stick of gum cost like $5,000?
 
Can you imagine how many people will be driving around with spinny rims on mini-vans if we gave that much money to the people. Also, the WWE.com store would be shut down until they can fire up more servers and find more kids in Asia and Africa to sew the John Cena shirts.

Hell, if people blew the hundreds of dollars we got this summer, imagine how they'll blow a half million.

Besides the inflation, how would the economy recover from the thousands to millions people that just up and quit their jobs. If someone handed you half a million, would you still clean up shit stains on a toilet or work in 95 degree heat. Then you'll be begging for some Mexicans to come in and do the crappy jobs.
 
[quote name='depascal22']Can you imagine how many people will be driving around with spinny rims on mini-vans if we gave that much money to the people. Also, the WWE.com store would be shut down until they can fire up more servers and find more kids in Asia and Africa to sew the John Cena shirts.

Hell, if people blew the hundreds of dollars we got this summer, imagine how they'll blow a half million.

Besides the inflation, how would the economy recover from the thousands to millions people that just up and quit their jobs. If someone handed you half a million, would you still clean up shit stains on a toilet or work in 95 degree heat. Then you'll be begging for some Mexicans to come in and do the crappy jobs.[/QUOTE]

It is sad that things would work out that way. Tons of people quiting their jobs and everyone blowing the money. I would be surprised if just a handful of people invested their money. I think id turn around and put as much as I could into my fiancees 401k and 2 roth IRAs, wrap a ton up in CDs and then splurge on maybe $5,000 MAX in games and $5,000-$10,000 for a vacation for my fiancee since she hasn't gotten one since she met me.
 
[quote name='level1online']ok, i'm no economist either. but if that scenario happened, wouldn't a stick of gum cost like $5,000?[/QUOTE]

I think that would only happen if the demand for gum exceeded the supply.
 
[quote name='mykevermin']Sometimes I wish this "Tank Girl-esque future" paranoia of level1 turns out to be right.

Because I want to see the expression on his face when this nation becomes a prison state and he realizes that he failed at warning us and doing anything to stop it.

I'll work for Water and Power for the rest of my days, living in fear of the Rippers, just to think that satisfying, satisfying thought.[/quote]

You still don't get it. It's has nothing to do with whether I succeed or not in warning you. It has more to do with my conscience and my relationship with God. If i were to come on this forum and propagate the thought, "Yeah bitches! Let it all burn! You and your children deserve it!", what good would that accomplish?

By coming on here and reminding you that incompetence has nothing to do with our current state of affairs, it'll make you think just a little bit harder about the grid built around us and about your purpose in life.

There's a difference between living in fear, and knowing what's ahead of the curve. All i want is for you guys to be mentally prepared for what's ahead of the curve so you don't have to sink to the lowest levels of depravity in order to survive.

Yes, alot of you guys have pretty good "tyranny detectors", but why is it that you only have it turned on when the opposing party is in office?
 
If America got a bailout, there's no way in hell I'm quitting my job. I'm going to purchase a house for me and my girl, AND keep my cushy job with no fear of financial troubles later on.
But how does that make this situation any different than handing out Zimbabwe dollars? I mean, their situation is entirely different over there. They have nothing. We still have industry.
But, it still scares me we're seemingly printing 700 billion dollars in funny money-- and it's not even an exact amoutn. The treasury can't even be bothered to do the math to try to save money for the nation.
 
Except EVERYONE is going to be buying houses. So what happens? Prices go up through the roof for a couple years until the money is spent or socked away. That little house down the street won't be 125k after this happens.
Cruises become overbooked and prices go way up because, well, they can.

Also, everyone's gonna be rushing to buy a bunch of crap but who's gonna stick around to sell it. Everyone's gonna rush to the mall but what happens when the mall is closed because there's no security or anyone to open the stores? What happens when people run out of food because every last minimum wage cashier and bagboy up and quit? What happens when you run out of gas and there isn't anyone to run the station?

Did we all forget the truckers that are the backbone for the economy? How many of them will still leave their families for days or weeks when they just got half a mill? The plan sounds great but would never ever work. You could "import" a million illegal aliens to do the work but that borders dangerously on slavery and would only exacerbate the problems that money can't fix.
 
[quote name='Friend of Sonic']
But, it still scares me we're seemingly printing 700 billion dollars in funny money-- and it's not even an exact amoutn. The treasury can't even be bothered to do the math to try to save money for the nation.[/QUOTE]

why would that scare you now, weve been doing it for years.
 
I hope everyone managed to fire off a letter or email to their representatives in congress today.

Surely even the communistas among us can see the folly in conjuring this imaginary money into existence with no recourse and no oversight. Giving the treasury and the "Fed" free reign and a blank check will lead to an even bigger disaster.
 
Here's a better scenario than handing people cash:
I heard on a right wing lunatic talk radio thing the other night that the amount of unsecured mortgage backed securities that Fanny/Freddy are upside down on is something like 4.25 trillion. Now let's say that this relief (corporate welfare) is going to be 700 Billion. This is approximately 1/6th of the amount of bad debt. How about we have Fanny/Freddy go ahead and take that amount and reduce the note on any mortgage by the corresponding amount. Now I know that F/F don't actually OWN the mortgage, but you get the picture. By reducing the loan, the home owner can get their monthly mortgage payment reduced by that same 1/6th as the bailout. If your monthly payment is $1,000 then you'll get an instant break of $166.67 each month to put food on your family or purchase cigarettes. This will prevent the $5,000 stick of gum scenario mentioned above since you won't have such instant wealth attainment by the masses.

While I'm not a gun guy by any stretch of the imagination, this is your 2nd ammendment right here. The government has created a scenario by which they now own your house with fake money. The value of your house has now plummeted because while the owner of the debt has been given a large sum of cash, you're still paying for the original full principle plus the interest. Ergo, if your home was originally valued at $100,000.00 at the time of purchase, and you pay about another $60,000 in interest over the course of 15 years to pay that principle, the bailout increases that amount of cash to roughly $186,666.66 (to use the previous 1/6th rule). Now you want to sell your home that you've paid $186,666.66 for, but since credit is low and there has been a roughly 12% reduction in home prices over the last three years, you're suddenly looking at selling your home for about $88,000. Now the bank has made $100k off of your house and you've lost your ass to the tune of 12 large.

Granted this is INCREDIBLY simplified, but this is more or less what is about to happen. Real Estate has ALWAYS been the backbone of the american economy in terms of investment growth, and now it has just died.
 
[quote name='bmulligan']I hope everyone managed to fire off a letter or email to their representatives in congress today.

Surely even the communistas among us can see the folly in conjuring this imaginary money into existence with no recourse and no oversight. Giving the treasury and the "Fed" free reign and a blank check will lead to an even bigger disaster.[/QUOTE]

C'mon, dude. You're always bitching about redistribution of wealth - so isn't it kosher that it's going to be redistributed to the wealthy? I figured you'd have a raging boner for this kind of stuff.

;)
 
[quote name='mykevermin']C'mon, dude. You're always bitching about redistribution of wealth - so isn't it kosher that it's going to be redistributed to the wealthy? I figured you'd have a raging boner for this kind of stuff.

;)[/QUOTE]

I'm more of a proponent of philosophical consistency and oppose involuntary re-distribution of wealth for any reason. Especially for investment bankers who've profited off the future earnings of every individual, mortgage paying, taxpaying American.

If anything, I would expect you to wholeheartedly agree with the bailout. Considering the wealthiest 10% of taxpayers pay 90% of income taxes, this will be primarily a redistribution from the Wealthy to the Super-wealthy. The kicker is that it will eventually affect everyone who has to trade with a hyper-inflated currency in the near future.
 
[quote name='KingBroly']It will turn violent. Human instinct in this country will go primal.[/quote]

Is there a thread on cheap guns?
 
[quote name='bmulligan']I'm more of a proponent of philosophical consistency and oppose involuntary re-distribution of wealth for any reason. Especially for investment bankers who've profited off the future earnings of every individual, mortgage paying, taxpaying American.

If anything, I would expect you to wholeheartedly agree with the bailout. Considering the wealthiest 10% of taxpayers pay 90% of income taxes, this will be primarily a redistribution from the Wealthy to the Super-wealthy. The kicker is that it will eventually affect everyone who has to trade with a hyper-inflated currency in the near future.[/QUOTE]

What in tarnation makes you think I'd agree with this?

Also, your goddamned free market got us here, Mr. Philosophical Consistency Simplicity.

Looking at the fucking mess we're in, though, I'm sure you'll have some smarmy and half-hearted explanation for why this isn't "REAL CAPITALISM," and that justifies the failure the same way pretentious college-age ISO brats say the failure of the USSR was the fault of the fact that it wasn't "REAL COMMUNISM."

;)
 
"Your goddamned free market got us here"

Here we go again.
Myke's "I want my cake and to eat it too" debate neutralizer in full effect.

When you distill the subject of a debate down to the semantics of definition, you might as well just say that God told you it was true. It ends the discussion and makes you as much of a winner of the debate.

Let me guess, I'm sure if we had "Real" socialism or "Real" Democratic party plans in effect a decade ago, all would be well, right?
 
[quote name='mykevermin']What in tarnation makes you think I'd agree with this?

Also, your goddamned free market got us here, Mr. Philosophical Consistency Simplicity.

Looking at the fucking mess we're in, though, I'm sure you'll have some smarmy and half-hearted explanation for why this isn't "REAL CAPITALISM," and that justifies the failure the same way pretentious college-age ISO brats say the failure of the USSR was the fault of the fact that it wasn't "REAL COMMUNISM."

;)[/QUOTE]

This isnt real capitalism and it wasnt real communism. De Regulation can be a good thing......the problem is just they have de regulated all of the wrong god damn things. And I seriously believe that communism could work if it was really done in a way that fits its definition.
 
Glass-Steagall was communism?

Hmm.

From this perspective, it looks like common sense.

Of course, the problem is more than just deregulation at the end of Clinton's presidency.

It was also cooking the books to make a $100,000 piece of property look like it was worth $150,000, letting people with credit scores in the low teens take out loans for said overinflated properties and, for good measure, throw in rampant government expenditures for overseas adventures.
 
[quote name='thrustbucket']"Your goddamned free market got us here"

Here we go again.
Myke's "I want my cake and to eat it too" debate neutralizer in full effect.

When you distill the subject of a debate down to the semantics of definition, you might as well just say that God told you it was true. It ends the discussion and makes you as much of a winner of the debate.

Let me guess, I'm sure if we had "Real" socialism or "Real" Democratic party plans in effect a decade ago, all would be well, right?[/QUOTE]

Bah. I'm opposed to political/philosophical absolutism in any direction. That's just too "George W. Bush" for me.

It's fine to believe in a certain ideology/philosophy politically. But when you're proven wrong over and over again, it's no longer fine to hold fast out of "philosophical consistency."

You know what's philosophical consistency? Not admitting the world is round. Not buying into new technology. Not changing. Not upgrading your video card. Not using new medical techniques. Not believing that the world is changing constantly, both with and without our help.

That's consistency. Consistency is being shown you're wrong and failing to admit or recognize that. Make me wrong. Make me "flip-flop." I learn from my mistakes. I don't continue to stick a fork in the electrical outlet on account of wanting to "stay the course."

(n.b.: and when I say "your free market," you're putting words in my mouth - a tactical claim you're fond of, I should say ; - and ignoring that while I do think it is largely a select group of people in the free market who have consumed too much and exploded like old Mr. Creosote, it is absurd to think that legislative forces aren't involved here).

so don't put words in my mouth. ;)
 
[quote name='mykevermin']

It's fine to believe in a certain ideology/philosophy politically. But when you're proven wrong over and over again, it's no longer fine to hold fast out of "philosophical consistency."
[/QUOTE]

Then it's a good thing I've never been proven wrong, idealistically, that is. At least, not by you.

I'm really at a loss to understand how you think capitalism is the nail in the coffin for this "crisis". It was a Democrat president who signed a law into existence that created the investment banks who traded these sub-prime notes in new markets to begin with.

But primarily, it was the "socialist" agenda during the Carter administration that passed the Community Reinvestment Act.http://en.wikipedia.org/wiki/Community_Reinvestment_Act. It's exactly the process you have espoused many times to be the answer to the evils of capitalism - provide money and loans to people who can't afford them to begin with in the name of fairness. It's a major factor in the creation of the housing "bubble", or overvalued market that resulted from synthetically engineered demand for housing. Read this quote from the link:

The CRA was passed into law by the 95th United States Congress in 1977 as a result of national grassroots pressure for affordable housing, and despite considerable opposition from the mainstream banking community.[1] Only one banker, Ron Grzywinski from ShoreBank in Chicago, testified in favor of the act.[2] The CRA mandates that each banking institution be evaluated to determine if it has met the credit needs of its entire community. That record is taken into account when the federal government considers an institution's application for deposit facilities, including mergers and acquisitions. The CRA is enforced by the financial regulators (FDIC, OCC, OTS, and FRB).

The bill encouraged the Federal National Mortgage Association, commonly known as Fannie Mae, to enable mortgage companies, savings and loans, commercial banks, credit unions, and state and local housing finance agencies to lend to home buyers. It also encouraged the Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, to buy mortgages on the secondary market and sell them as mortgage-backed securities on the open market.[3] Due to massive financial losses, on September 7, 2008 the Federal Housing Finance Agency (FHFA) put Fannie Mae and Freddie Mac under the conservatorship of the FHFA.
Click to expand...

"Meet the credit needs of the community". It might as well have been crafted by a communist just like you Myke. If anything, providing for need without regard for ability, i.e., socialism, is the primary reason this crisis exists, not capitalism.
 
[quote name='bmulligan']Then it's a good thing I've never been proven wrong, idealistically, that is. At least, not by you.[/QUOTE]

Wow. I thought I had the arrogant crown in this forum. Guess I'm wrong. Least I can admit it.

So now the outlawing of "redlining" practices, long proven to not be associated with "lending to the poor," but with "not lending to them dirty black folks," (in other words making the market behave with an invisible hand instead of a bigoted one), is now socialism?

Yow. So you're surely in line with Michelle Bachmann and the other racists on the right who mistake redlining with "lending to people who don't otherwise qualify financially" and not "writing off entire neighborhoods due to racial composition." Which is incorrect; absolutely 100% incorrect. You couldn't be more wrong if your post was about your favorite flavour of pudding.

That we have to enact legislation to have the "free market" BEHAVE like a free market should've been a giant neon clue to you, hombre. Redlining would have sickened Our Dear Friend Adam Smith.

Moreover, you could have read the entire page you posted, which points out that plenty of banks and groups well outside the domain of the CRA were responsible for 2/3rds of subprime loans. Which does a great deal to lift the burden of blame off of Carter and CRA (or at least your accusation of blame) and onto those banks that, in the spirit of free enterprise, opted to engage in these practices themselves.

But, hey, in your naive little world, you can continue to be correct. You'll be proven correct when the free market is REALLY FREE, eh, comrade? ;) ;)
 
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