Howdoya blame the slobs when they have zip to do with the approval of the loans?
If I was an illegal alien, or some slob with undocumented income, and or little or no down payment money, would you lend me 300k?
No, of course you wouldn't.
Whoop...Misread your post....”I do NOT blame the poor slobs that went looking for loans that they should never have received”.
My mistake.
I read a good majority of this thread and I am still confused. If some charitable person would like to help me out, I would greatly appreciate it as I have a shift tomorrow at a McCain victory office and sure as rain...this will come up.
The way I see it is:
-What comes up must come down. The banks that were making all of the shady loans were depending on bailouts to shield them from a poor decisions. Now that they know that Crusader Rabbit will not come to the rescue, a correction will occur over time as their lending practices come back to a “trust but verify” policy.
-Interest rates may be reduced to make sure that credit is available to those who deserve it?
-During the Clinton admin, the forces that existed set policy so that more people could qualify as first time homeowners no matter their financial reality and Bush really didn’t fix it.
-The sky is not falling. We have had many stock market bumps before, the market is self correcting if you just limit government from sticking too many fingers into the pie.
I openly admit that I am a stock market idiot. It gives me a headache if I think about it too much. But I would appreciate help with honing these talking points for soft McCain supporters who may be a little nervous in light of the news today. The campaign is not really very good about helping volunteers react in real time to the issues. Thanks