Reply #11: Apologist Accepted

[Daveparts]

It is relatively easy to be an apologist; you can make excuses for anything. Your argument is that capitalism shouldn’t be criticized, that any system can be abused. That’s like saying the Titanic disaster shouldn't be criticized because most of the people made it off safely. But like the Titantic your argument doesn’t hold water. I clearly stated,

“But when we ask the government to tightly regulate the lending industry we’re called communists and anti-capitalists, and told that the government should leave free enterprise alone. Ok, I’ll accept that, it's no business of the government to protect people from themselves.”

You said, “what system works BETTER than capitalism (i've never seen one)?”
The old better dead then red line, I never said Capitalism should be done away with only regulated. The difference between the family dog verses a vicious pit bull. But you take the Bush line that the abuses are all innocent and that the abused probably had it coming to them anyway.

We are talking about reverse mortgages here, a system where the owner of a fee simple property signs over partial rights to the title. They are given a fraction of the value of the property and then assessed fees and charged credit card interest rates until the property is no longer theirs.

We are not talking about sub prime loans, no one except the lenders will ever move into a new home because of reverse mortgages.

“i am sorry, but the blame lies in BOTH camps.” You hold private citizens to the same standard as professional bankers? Private individuals devised a scheme to cheat professional bankers? If that’s so then bank robbers should be referred to as armed withdrawal counselors.