Much of this entire issue began in the stench of the Clinton “administration”....
Yet can you find a single Democrat that has admitted any connection to the crisis?
Social engineering is the root cause of this mess.
Money won’t fix this any more than money fixes schools.
I agree but we had 1994 to 2006 to make some adjustments. I still think the leftists made this bed, but we sure didn’t clean the sheets.
I’ve tried to explain that to liberal friends of mine after one of them flat-out said “this is Bush’s $700 billion bailout, his constituents need to pay for it.” I showed him the NYT article from 1999 that mentions Fannie’s liberalization of buying subprime mortgages (with Franklin Raines at the helm), I explained to him about the 1997 CRA changes that caused “community organizers” like his beloved Obamessiah to pressure banks into risky lending, I showed him that Chris Dodd and Barney Fwank are the biggest pushers in Congress behind Fannie and Freddie.
His reply? “The Republicans were in charge of Congress from 1994 to 2006, it’s their fault, and Fannie/Freddie have been utilized by Bush as part of his ‘ownership’ society since 2001 and the Democrats should have stood up to him.” It’s just nothing but willful ignorance. It blows my mind. Then again, he’s part of a crowd that’s flat-out said the top 1% of earners need to be massively taxed because they’ve hoarded too much money and that money needs to be recirculated into the economy. Utterly amazing.
}:-)4