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Author Topic: Why is it all our fault?  (Read 2145 times)

OneFootInTheGame

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Why is it all our fault?
« on: 15 March, 2009, 04:06:26 PM »
European governments, it seems, are balking at cooperating with the American government in fixing the economic mess. I have no problem with that, it's more or less business as usual, but they're taking the attitude that it's all America's fault and therefore up to the Americans to fix it does bother me. European banks bought the same bum securities the American banks did and it was not the American government or the American people that made those decisions, but the Europeans.

Offline high1971

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Re: Why is it all our fault?
« Reply #1 on: 15 March, 2009, 11:21:45 PM »
oh yes every one fell into the trap that ordinary people saw comming well before they did and it is as far as blame goes everyones fault not just the americans but having said that the americans want to be the power house of the world so take the blame with a quite mouth and a full responsability and be there at the otherside to welcome the rest of the world with you

Offline moonzero2

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Re: Why is it all our fault?
« Reply #2 on: 16 March, 2009, 09:11:00 AM »
It all has to do with the American governments habit of worshiping at the altar of the free market for everything, In the UK the thatcher government (and those after); bought into the mantra that all state intervention or ownership is badand the push for de-regulation which led to the banks taking the very risks leading to the current mess. and the trade agreements on globalistion which while they have a possibility to help the ordinary man, are only used to increase the assets of those that already have more than enough.

In simple terms the blind in the form of Reagan,Bush et al, led the blind Thatcher, Major, Blair etc
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OneFootInTheGame

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Re: Why is it all our fault?
« Reply #3 on: 16 March, 2009, 01:03:32 PM »
It all has to do with the American governments habit of worshiping at the altar of the free market for everything, In the UK the thatcher government (and those after); bought into the mantra that all state intervention or ownership is badand the push for de-regulation which led to the banks taking the very risks leading to the current mess. and the trade agreements on globalistion which while they have a possibility to help the ordinary man, are only used to increase the assets of those that already have more than enough.

In simple terms the blind in the form of Reagan,Bush et al, led the blind Thatcher, Major, Blair etc

Thatcher was smarter than Reagan by a mile, if anything she was egging him on. Thatcher knew what she was doing. Reagan had a couple of things he believed, in spite of the facts, and for the rest believed what everybody told him, that he was Mr. Wonderful. Same with Blair and Bush II. Blair had the smarts and the experience, but did he come over here and talk some sense into Bush, no. Okay, that might have been asking too much, but he could have told him if he insisted on going down the Iraq road he would have to go alone.

But the fact remains, that you voted yours in just as we did, take some responsibility for your own mistakes instead of blaming everything on America.

Offline siasl

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Re: Why is it all our fault?
« Reply #4 on: 16 March, 2009, 01:27:26 PM »
Personally, I'd heard that it was the UK financial houses that started the whole mess off back in the Thatcher/Reagan era - it's just that the USians bought into it a whole lot more, and so had more exposure. Nothing to back that up, though....

I don't really care whose fault it was, as long as banks stop lending to folks that can't afford to pay things off, or stop assuming that 120% mortgages are ok...