Posted on 09/30/2011 6:52:50 AM PDT by dangus
It destroys everything it touches.
Think about it.
30 million illegals create a lot of congressional districts simply by being here. That’s some 50 congressmen all screaming for more money for their districts and it makes a lot tougher fight for us in congress.
Let's get to the root cause:
"How Liberal and RINO politicians Destroyed America's Culture and Economy"
as a result of the credit modernization act, gramms wife was appointed to the board of enron. Cronyism at its worst.
Illegal immigration is a fellow traveler along with Benedict Arnold U.S. manufacturing CEO’s that can’t be satisfied with
a 10K sq ft mansion, ski lodge, beach house, yacht and Porche for the 16 year old... so they have to send even more factories to China.
I don’t believe this article successfully argues its thesis. In fact, I find the article an exercise in logical rambling that sabotages its thesis by oscillating between two or more theories. If the article/author wants to claim that “too easy lending” was the underlying cause of the current economic malaise, then illegal immigrants and the CDOs that Bear Stearns wrote aren’t to blame, “too easy lending” is to blame. Focus = lacking.
It was a bad bill, and Gramm was officially partly responsible for it, so I’m not going to try to convince you Gramm was a good guy. Question, though: was Gramm’s wife actually given an MONEY? Which board? If there’s signs Gramm was being a crony capitalist, I wouldn’t want to continue to implicitly whitewash him, but I also don’t want to slander him by passing on poorly established cronyism.
So it’s your position that a creditable explanation for any exceedingly complex situation can’t possibly admit more than one contributing factor? If X is to blame, Y is flawless? Anything else is “rambling”?
On the other hand, if you don’t understand that too easy lending was a product of CDOs, then maybe I should have used smaller words.
I’ll go one step further:
As evil as it is, I’d rather the traitorous CEOs hire people oversees, then import people here in order to hire them, and leave the American communities the bill for the education, infrastructure improvements, medical coverage, welfare payments, etc.
WHOOPS! DANGEROUS TYPO.
I meant,
I’ll go one step further:
As evil as it is, I’d rather the traitorous CEOs hire people oversees, THAN [for them to] import people here in order to hire them, and leave the American communities the bill for the education, infrastructure improvements, medical coverage, welfare payments, etc.
___________________
“Then” makes it sounds like I want them to do both!
WHOOPS! DANGEROUS TYPO.
I meant,
I’ll go one step further:
As evil as it is, I’d rather the traitorous CEOs hire people oversees, THAN [for them to] import people here in order to hire them, and leave the American communities the bill for the education, infrastructure improvements, medical coverage, welfare payments, etc.
___________________
“Then” makes it sounds like I want them to do both!
“Blacks did not default on loans any less than whites did, despite greater difficulty in getting loans. Based on long term financial history, home location, educational attainment, etc., a black person earning the same money as a white person would be less likely to successfully pay off the loan. But that meant that bank loaning policies had a “disparate effect” on blacks.”
The first sentence appears inconsistent with the next two. In any event, blacks are less creditworthy than whites based on default rates. East Asians are the most creditworthy. We have known this since the 70’s when the Carter Administration ginned up the bogus mortgage banking “redlining” issue.
Black leaders and their supporters, i.e. about 90% of blacks, were very much behind pushing the CRA and all the other destructive policies that created the mortgage market disaster. Illegals were also a major part of the problem, but the CBC, allied with leftists such as Jimmy Carter, Barney Frank and AA incompetents such as Franklin Raines and Janet Reno, are mainly to blame for creating and expanding the policies that led to the mortgage crisis.
Don’t liberal-argue me, pal. It’s not a credible explanation.
I’ve studied this in significantly more depth than this type of handwaving argument and can point you in a dozen directions to sources much closer to the original actors, none of whom have single topic disease.
I agree. Too many assertions that sound just a little off.
Too-easy-lending, encouraged by well-intentioned but economically-unsound government interference in the market, led to an out-of-control lending environment. The result was the housing bubble and a lot of mortgages that should never have been written. Throw in a heaping helping of greed by the mortgage brokers and loan originators who could write all kinds of crap loans without fear of living with the risk and you had the perfect recipe for disaster.
No, it’s not too easy lending by itself. Even with easy lending, you needed a target population to soak up those easy loans. Without the illegals to suck them up, those loans would not have been issued. You need a customer for your product. For subprime loans, it was illegal aliens.
That target was the housing needs of 20-30 million new illegal aliens (the real number, not the “11 million” that has been used since 2002).
See this article from over two years ago: http://www.humanevents.com/article.php?id=33821
“As evil as it is, I’d rather the traitorous CEOs hire people oversees, THAN [for them to] import people here in order to hire them, and leave the American communities the bill for the education, infrastructure improvements, medical coverage, welfare payments, etc”
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I would agree, except that in the case of upper midwest manufacturing, Mexican illegals aren’t hurting nearly as badly as the China outsourcing is.
In the case of the high tech sector, importing people (H1B visa Indians and etc..)is doing a lot of damage to careers of folks who went to college for computer science and such in the last 20 years.
WHOOPS! DANGEROUS TYPO.
Oversees might be overseas?
Some people just like to hear themselves talk with big words and long drawn out articles that really don’t say anything or get to the crux of the problem. Illegal is illegal and Mexicans are the problem.
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