Good grief! Pass the vodka. How does he get there?
Fannie and Freddie were fueled up for a crash under the Clintons, when Janet Reno with the force of law under her bosom, cheerfully and self-rightously forced banks and lending houses to lend to minorities and low income, or no income, and unfit for the deal they made at the desk of the lender.
Sheesh. Gaffe surge.
Seems like Santorum tends to over-reach on this stuff, although I am always on guard for the MSM trying to torpedo all Republicans.
Certainly gas prices didn’t help with the mortgage crisis, but to say we had the crisis “because” of gas prices rather than the CRA, Fannie/Freddie, low credit standards, etc., etc. is a reach. The housing bubble inflated home values by six figures in many cases - the net present value of the gas price increase was a rounding error next to that.
Precisely. The home loans to people who were unqualified was predictable. People who otherwise saved, paid their bills and budgeted conscientiously kept their homes which have lost value because of the high foreclosure rate.
High gas prices affect all consumer goods. The direct gas prices have affected those who have long commutes to and from the workplace and if they drive premium gas guzzlers.
One blessed group are the DC Government employees who use public transport. They have probably not even noticed the $4.00 gallon price.
And you think Newt would disagree that gas prices didn’t help bring down the U.S. economy? He was out there with his Drill and Save Money bumper sticker. I changed it on my bumper to Drill and Save Jobs. I watched it all happen in CA and gas prices were the tipping point, or straw that broke the camel’s back or what ever cliche you want to use. Most I know people who were house poor who could have continued paying the mortgage if gas had stayed reasonably priced. I put full blame on the Democrat Congress that came into power in January 2007.