Posted on 09/25/2015 5:03:30 AM PDT by Eric Pode of Croydon
I disagree with this statement entirely. It's true that the subprime disaster was a factor in the real estate crash, but it was far from the biggest contributor. The more problematic mortgages were the ones held by people who were employed in jobs that paid well, and were simply over-extended on massive mortgages to finance their high standard of living. This story was repeated endless times in every major metro area in the U.S.
Interesting. Thanks
It is interesting that more and more articles, even in the msm, are finally starting to get to the truth of why trump is a viable candidate
Trump is the mad as hell and I’m not going to take it anymore candidate.
The writer attempts to explain the Trump phenomena by blaming Bush for his abandonment of free markets is authorizing TARP. But TARP was merely a consequence of Bush’s dereliction in market enforcement by standing down SEC prosecution of selected To-Big-To-Fail crony bankers to save the illusory ‘bubble’ economy in housing that arose as in the wake of his lax enforcement policies.
Free markets are not free without enforcement. Greed, cheating, fraud and theft will and do reign supreme when there is no sheriff. Bush had the sheriff look the other way.
This is not my blog, I've never even visited it until today.
"Blog pimping" is when the owner of the blog uses an FR account to post his own writing, and especially when he posts only an excerpt to get clicks.
You have been on FR way too long not to know this.
What I would prefer as a solution would be to let mismanaged banks fail.
Fail, in full public view. Like a smoking wreck at the Daytona 500.
Ok, perhaps ‘pimping’ wasn’t justified, however if each and every blog out there is automatically considered ‘news’, FR would be out of bandwidth in a hurry, true?
I support Trump completely, he has vision, he has loyalty, and he speaks for the people.
how’s it going dude? I hope well.
And this may be a blog, and maybe even a blog pimp - but the opening line is so so so true and so so so undiscussed. The entire TARP program could have been avoided simply by changing the mark to market provision of Sarbanes Oxley.
The great great dirty little secret of 2008 crash.
of course, keep in mind, Trump supported TARP.
TARP might be a factor in Trump’s appeal, but it’s down around number four or five, and only in a general way for most voters.
The real GOPe failures that created an opening for Trump are, over the past twenty or thirty years, its deliberate refusal to enforce immigration law and the string of trade deals that have moved millions of jobs and practically entire industries to cheap labor nations.
And then the reality that the huge wins for the GOP in the off-year elections of 2010 and 2014 brought little or no change in Obama’s way of doing things has infuriated even more who’ve voted for Republicans.
I think TARP is in the mix of general government screw-ups and incompetence, but it is far from the major factor that provided an opportunity for Trump.
TARP created OBAMA.
Bush created TRUMP.
TARP was created by lack of enforcement, that’s historical fact.
Writer here is filling dead air, filling blanks on paper. Not worth bringing into discussion at this point except to remind people that Bush f’d it up ‘Big Time’.
And yes people know about the democrats and CRA/Bank Redlining etc. Democrats will always be corrupt; that’s what they do. But people placed their trust in Bush to counter all the crap and he f’d it up.
Bush family are stage props to crony banksters. They allowed the S&L fraud to grow to crisis proportions. They allowed the subprime mess to grow to historical crisis proportions. Banksters control them. They are part of the same criminal banking cartel. TARP was their bailout to puppetmasters that overstepped the greed and theft to the tune of trillions.
The writer here is not aiming for the ringleader but to soldiers of the ringleader. That’s what I’m pointing out.
Attacking the Establishment GOP is futile without attacking the media that manipulates the populace into supporting it.
So he’s half right, which is 20 times more right than most commentary these days.
But a certain candidate whom shall remain nameless DID SUPPORT TARP. Just sayin....
Point taken. Every candidate running is going to have positions and views that some voters are NOT going to like. The perfect conservative candidate does not exist. The trick is to figure out which candidate will do the most to advance and promote conservative values, and even then if that candidate doesn’t generate enough overall support, they’re not going anywhere.
“Liar loans” were less a problem than the whole subprime debacle—which was indeed government induced.
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