Saturday, January 23, 2010

Economic Eco-System is as Fragile as the Natural Eco-System

Economic Eco-System is as Fragile as the Natural Eco-System in that a few simple and apparently innocuous changes can bring about a collapse of that system. We constantly hear the refrain of how rich the US is and how it's shameful that we don't help our brothers in need. Well, here's a few quotes from Andrew Cuomo, the Housing Urban Development Secretary under Bill Clinton talking about forcing banks to give loans to unqualified people.

Some may say that the moneys involved in this example, 2.1 billion, is so insignificant in comparison to Enron and other scandals that it's not even worthy of being mentioned. These individuals forget that when the government forces one group of people, or one company, to act in a certain way others follow suit to avoid being put under the government's gun. The issue is not only this "paltry" 2.1 billion but all future business activity which was influenced by this and other actions.

You can see the entire CSPAN interview CSPAN: Housing Discrimination April 3, 1998


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