Quote:
Originally Posted by Burning Down
That, and also the fact that American banks are not regulated by the government, so they can do whatever the hell they want when it comes to mortgage rates and investments. Also, the Federal Reserve is separate from the government, almost like a third-party actor, and it doesn't help that interest rates are determined by a non-governmental institution.
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As Janszoon pointed out, that's simply not true. Well, the banks themselves may be private, but the banking system in which they work is heavily regulated, which is why we're facing such a vast financial crisis.