[robomartin]

> We had a recession caused by the private sector.

I was going to stay out of this thread but, no, not with something like this.

The recession was not caused by the private sector. It was caused by government policy that enabled people to buy homes they should not have been able to buy. That was the primary enabler. With at that one gating element what happened would have been impossible. The private sector worked with and within the framework provided by our inept politicians, who never seem to have a handle on the concept of unintended consequences.

Let's not forget the millions of Americans who got on the gravy train knowing, full well, that they couldn't really pay for that million dollar home with their $75K combined salaries. Those among our compatriots who took part in this were another significant gating element. Without their participation this wouldn't have happened.

There are three groups destroying our country from the inside: Politicians, government and unions

[was8309]

" the private sector, not the government or government-backed companies, was behind the soaring subprime lending at the core of the crisis" [0]

[0] http://www.mcclatchydc.com/2008/10/12/53802/private-sector-l...