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All of you guys above who say that the real perpetrators is US are right. But the fact is that we will do it again if we dont put in some common sense regulations to prevent it. Peoples' behavior is quite predictable. If you give them enough rope to hang themselves THEY WILL HANG THEMSELVES. Why give them the rope if there is an easy way to prevent it?
And please dont tell me that hanging themselves is what they deserve and we should let them hang because they are taking ME and everyone else down with them. I didnt overconsume and I didnt buy MBS's but my financial situation is sure as hell dependent on this mess just like everyone else's.
So dont pretend that this is a matter of individual choice. All those individual choices lead to outcomes that affect people who didnt make stupid choices, and if a better regulatory framework can prevent that then I am all for it.
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