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The Real Culprits In This Meltdown
IBD Editorials ^
| September 15, 2008
Posted on 09/15/2008 5:21:16 PM PDT by Kaslin
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1
posted on
09/15/2008 5:24:25 PM PDT
by
Kaslin
To: Kaslin
2
posted on
09/15/2008 5:26:56 PM PDT
by
xcamel
(Conservatives start smart, and get rich, liberals start rich, and get stupid.)
To: Kaslin
shut up Obama. sit in the corner and wear this dunce hat.
To: Kaslin
I think Bush should address the Nation from the Oval Office and do the FDR speech. Theres nothing to fear but fear itself.
4
posted on
09/15/2008 5:29:48 PM PDT
by
Evil Slayer
(Sarah Palin reminds me of the story about David and Goliath)
To: Kaslin
5
posted on
09/15/2008 5:29:50 PM PDT
by
Yosemitest
(It's simple, fight or die.)
To: Kaslin
Don't worry, they'll fix it:
To: Kaslin
Thank you, President Clinton.
7
posted on
09/15/2008 5:31:20 PM PDT
by
ConservativeMind
(What's "Price Gouging"? Should government force us to sell to the 15th highest bidder on eBay?)
To: Kaslin
Sub-prime loans to high-risk “minority” buyers.
Only Ivy League Law School graduates could come up with such a brilliant, well-conceived plan.
Well, I guess we can all say we’ve paid our reparations now, haven’t we?
8
posted on
09/15/2008 5:31:31 PM PDT
by
EyeGuy
To: Kaslin
"The Clinton-era corruption, combined with unprecedented catering to affordable-housing lobbyists, resulted in today's nationalization of both Fannie and Freddie, a move that is expected to cost taxpayers tens of billions of dollars.
And the worst is far from over. By the time it is, we'll all be paying for Clinton's social experiment, one that Obama hopes to trump with a whole new round of meddling in the housing and jobs markets. In fact, the social experiment Obama has planned could dwarf both the Great Society and New Deal in size and scope."
To: EyeGuy
Well, I guess we can all say weve paid our reparations now, havent we? Sorry, only if we GAVE them the houses now that they can't pay for them would our debt be paid.
10
posted on
09/15/2008 5:34:40 PM PDT
by
listenhillary
(Palin accomplished more in the PTA than Obama did as a community organizer)
To: Evil Slayer
I think Bush should address the Nation from the Oval Office and do the FDR speech. Theres nothing to fear but fear itself. W isn't very persuasive. He'd best keep quiet.
11
posted on
09/15/2008 5:36:32 PM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Kaslin
I remember the beginnings of this whole fiasco, back in the '90's. There were a bunch of stories in the press about how lending institutions were rejecting loan applications from A-A borrowers at a much higher rate than they were for whites. I think that one of the Federal Reserve banks may have done a study leading to this conclusion.
The MSM and NPR immediately jumped on the bandwagon. There were a few voices pointing out that a fairer metric would have been to compare the foreclosure rates for blacks and whites; that number was nearly identical. They were shouted down.
The Democrats in congress threatened to conduct hearings into the "crisis." Terms like "redlining" and "ethnic clensing" were tossed about. Bankers started to wet their pants.
Then... silence. Absolute silence on the subject.
Years go by. Then...
Subprime meltdown. Senators and congressmen getting sweetheart mortgage deals. You know the rest.
Come to think of it, the original brouhaha might have blown up when the congress was taking heat over the house bank; you remember, congresspersons going to the house post office to redeem $15K in postage stamps, week after week.
12
posted on
09/15/2008 5:36:49 PM PDT
by
Steely Tom
(Without the second, the rest are just politicians' BS.)
To: Kaslin
Obama in a statement yesterday blamed the shocking new round of subprime-related bankruptcies on the free-market system, and specifically the "trickle-down" economics of the Bush administration, I guess idiot Obama means he's a supply sider, which W isn't anyway.
13
posted on
09/15/2008 5:37:50 PM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Jim Robinson
The rats and the empty suit should he; God forbid get elected, won’t rest until they have turned this great nation into a third world country
14
posted on
09/15/2008 5:38:42 PM PDT
by
Kaslin
(Vote Democrat if you like high gas prices at the pump)
To: Moonman62
FDR he is not. Of course, FDR was the beginning of this mess but that is another story.
15
posted on
09/15/2008 5:39:24 PM PDT
by
brydic1
To: Kaslin
The Dow Futures are down yet another 124 points since the market closed at 4:00pm. Japan and Korea are each down about 5% tonight. Batten the hatches people.
16
posted on
09/15/2008 5:44:27 PM PDT
by
brydic1
To: Kaslin
This policy has little to do with this housing and credit bust IMHO.
Subprime doesn’t just mean low income or minority anyway. Lots of big players have poor credit and resort to ARM’s as a way to play the market.
It is California, Florida, and Nevada that are the mortgage bottomless pits. Stockton CA has the highest foreclosure rate in the nation...not exactly a slum.
http://money.cnn.com/2008/09/12/real_estate/foreclosures/index.htm
http://www.stocktongov.com/EconDev/pages/population.cfm
The government should never force lenders to loan to poor credit risks, but low end loans aren’t behind this.
Thank unreal speculation, unreasonable appreciation of “hot” real estate, 2% prime and plain old greed for this. Not the millions of hard working people given a chance to own a home. The vast majority are making their payments.
http://www.mbaa.org/NewsandMedia/PressCenter/64769.htm
17
posted on
09/15/2008 5:48:27 PM PDT
by
A.Hun
(Common sense is no longer common.)
To: xcamel; Kaslin
18
posted on
09/15/2008 5:50:46 PM PDT
by
ConservativeMind
(What's "Price Gouging"? Should government force us to sell to the 15th highest bidder on eBay?)
To: Kaslin
The Klintons were determined that people with no income and no job be allowed to purchase a home. No down payment and no way to pay the mortgage they marched us towards this meltdown.
All with the complicit approval of Alan Greenspan.
19
posted on
09/15/2008 5:51:17 PM PDT
by
Carley
(she's all out of caribou.............)
To: Steely Tom
Thank Andrew Cuomo for starting all that “redlining” BS
20
posted on
09/15/2008 5:56:41 PM PDT
by
xcamel
(Conservatives start smart, and get rich, liberals start rich, and get stupid.)
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