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Response to 4th law of robotics (Reply #6)

Wed Jun 27, 2012, 02:45 PM

7. Nobody Is Suggesting That

But you are right that Germany didn't directly cause this. The underlying cause is the toxic, exotic loan packages put together in this country during the housing bubble and sold worldwide. Lack of regulation on the structure of these packages allowed junk to be mixed with good debt and sold as AAA bonds. Why the bonding agencies allowed themselves to be used in this shameful manner still hasn't been fully addressed. Plus corruption and unchecked spending in many of these European countries contributed significantly -- but that should all have been regulated before this happened rather than after the fact. Just don't go off the deep end by claiming "no strings attached".

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