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PupnTaco's avatar

Are the conservative ideals of "hands-off government" a BS cover for corruption?

Asked by PupnTaco (13885points) June 17th, 2008 from iPhone

I was listening to a fascinating “This American Life” about the subprime mortgage disaster today and wondered… is the typical conservative attitude towards deregulation a cover story that enables rampant corruption, greed, and abuse of power?

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4 Answers

reed's avatar

Considering that deregulation in many industries was enacted by congressional members who are both conservative and liberal, I’m not sure how you are equating one’s political attitude with rampant corruption, greed, and abuse of power. Energy deregulation and the Enron meltdown was largely a liberal debacle. The subprime fiasco was fueled to a great degree by liberals who wanted low income and minorities to more easily qualify for a loan so they encouraged banks to ease their lending requirements. Many of the people who are losing their homes in this melt down are speculators and people who would have never had even qualified for a loan 10 years ago. The attitude to the subprime mess could be categorized by party, conservatives are against bailouts, and liberals want to hand out money to reward stupidity and greed. If you are advocating regulating stupidity and greed, well, that is another matter.

PupnTaco's avatar

Wait, the subprime mess was instigated by liberal minorities? It didn’t have anything to do with Wall Street, Greenspan, and mortgage-backed securities?

News to me. Damn those minorities!


wildflower's avatar

Psst, PupnTaco, you might want to consult a doctor. You’ve been <puking> a lot lately….any chance it’s morning sickness?

PupnTaco's avatar

More like Red State Fever. ;)

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