Posted on 09/24/2008 9:15:55 PM PDT by whitedog57
Arizona State University economics professor says that bailout disgusts him, but warns of terrible aftermath if something isn't done. He actually compliments President Bush! But most importantly, he blames Congress for passing legislation that caused the subprime crisis and says that Congress must remove Community Reinvestment Act (CRA) or we will suffer yet another meltdown and bailout. Read between the lines - he is blaming Congressional Democrats.
Look for featured video on right. He is guy that sort of looks like Jesse Ventura.
http://www.azcentral.com/video/
At least one of them understands things. He probably spent some time in the real world.
Man, it’s been a long time since we’ve had Friedman, Hayek, von Mises, and Rothbard teaching in our universities.
Bada Ping!
Yep, this is a Congressional bailout. The President can’t say that because he needs Congressional votes. But this is a bailout of the problems Congress created by pushing lenders to make unsound loans.
DING! DING! DING!
Johnny, we have a winner!
Accountability? What? Where?
TS
Yep, this is a Congressional bailout. The President can’t say that because he needs Congressional votes. But this is a bailout of the problems Congress created by pushing lenders to make unsound loans.
There seems to be a lot of tap dancing going on about who had these “bad loans.” Since they are not naming names, I’d say the marjority are DemocRATS.
funny they don’t mention his name.
You can bet the farm on it. If it was anybody but dems there’d be an investigation going on already.
Yes, I want to see the books. I want to know what percentage of these $700 billion in bad loans was a government-coerced sub prime CRA loan.
Most interesting. Thanks for posting.
Sorry, but it's a taxpayer bailout. Congress in of itself has no equity. I know, it's semantics.
There you go!!! I just couldn’t say it as well as you did! Thanks!
Bailout has to do with who is being bailed out. Congress is being bailed out. If we had a serious economic contraction someone might go back and find out that the bad guys were names Dodd, Frank, etc. So they are using our money to coverup their own mistake, ie bailout Congress.
“says that Congress must remove Community Reinvestment Act (CRA) or we will suffer yet another meltdown and bailout.”
Yep. And you don’t have to be an economist to figure that out. Common sense will suffice. What America needs is more common sense, and fewer lying politicians.
No argument with that.
Too bad we don’t have a “prosecute congress” 401K plan to invest in.
Investors would not know where to place the cash flow.
Mark this down in your calendars, finally a professor who has common sense, won’t see this too often!
About time we vote out Congress—every liberal (Dem or Repub) needs to be replaced!
Low income, bad credit, thought they deserve what the rest of us worked hard for, didn't read the fine print, thinking welfare payments should be counted as income... of course they're Rats.
This is very obviously the center of the crisis...
...pressed by Barack Obama’s ACORN and other leftists.
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