[Logical me]

Right on! But keep on the forefront the culprits, Dodd and Frankeeee.

[AndyJackson]

First you have to ping these things to the guys who will get it around.

[org.whodat]

Let me guess, ankle biting libertarian and his ten thousand supporters. LOL

[screaminsunshine]

But then other people got on board and the cancer spread up the food chain all the way to the top. People went overboard on easy credit from 2nd mtgs. on existing homes that are now worth 1/2 of what they were. Anybody in that situation is going to have to go bankrupt in the next few years. Why pay 400,000 for a house worth 150,000? This market has got a lot lower to go.

[org.whodat]

Tell the readers about your thoughts on making child porn legal!

[AndyJackson]

The fact of the matter is that Democrats caused the beginnings of this crisis by demanding that people who had bad credit be given mortgages....This crisis was not caused by a lack of government intervention. The crisis was caused by too much government intervention.

Actually, this idiot is spreading HS. First, the idiots on wall street did not exactly spend a lot of money lobbying against subprime mortgages. WS knows how to meet a requirement with minimal compliance when they choose. Second, subprime is but the tip of the iceberg of 3 decades of financial excess.

Whether or not we have a policy of sound money is squarely under the control of the government. That the Congress, the treasury and the Federal Reserve all went along with the creation and extension of the biggest financial bubble in history is squarely on their shoulders. While banks want the government out of their affairs, they still want first dibs on the freshly minted money.

[Ethrane]

Great piece...enjoyed it.

Been telling everyone I know this same stuff...but not many are buying it either because the media is constantly telling them otherwise, or they’re too stupid to understand.

We are in for a rough ride.

[sirchtruth]

Democrats demand that poor borrowers be given access to mortgages.

How did the democrats "demand" poor people, people who could not afford these loans, be given these loans?

What forced banks to underwrite these loans? A banks does not have to lend to anyone who can not afford the payment!

[MovementConservative]

The fairy tale usually goes like this: greedy financial companies gave unfair subprime loans to borrowers who couldn’t qualify for standard mortgages and hid in the fine print the real terms of the mortgage in an attempt to fraudulently enrich themselves.

The MSM has no interest in challenging this fairy tale. That would interfere in their role as tool of the Dem party. The GOP will wear the hat as the party of corruption alone for the forseeable future because the MSM will only highlight GOP dirtballs.

[hosepipe]

[ What Caused the Financial Crisis? ]

The same guys that installed John McLaim as republican candidate for President.. and caused republicans to be too proud to ask themselves HOW? that happened..

Voter fraud has become an art AND a science.. so much so that someone out of the blue(O'bama) can be elected to ANYTHING.. And republicans will not even query HOW? they could have be bamboozled.. scammed.. and totally out-conived..

John McLaim as republican candidate.. pullleeese..
The Howard Dean of the republican party..

[raybbr]

The current debate over which party wanted to reform Fannie and Freddie in the early part of this decade is irrelevant. The fact of the matter is that Democrats caused the beginnings of this crisis by demanding that people who had bad credit be given mortgages.

And, Bush pushed for increasing the percentage that Fannie and Freddie would purchase.

Please be more honest about this. Bush's "ownership" society was also to blame. He advocated using tax dollars to assist low income borrowers with their down payments for one thing.

Bush also pushed for minority home ownership over others using tax dollars to promote it.

Please, let's put the blame where it belongs - squarely on the Federal Government, both legislative and executive.

They spent more than they could ever hope to take in and both tried to ride the mortgage backed securities gravy train to popularity and approval.

[dragnet2]

What Caused the Financial Crisis?

Our inept, corrupt, ever growing government, and the terrible leadership that spent America into oblivion....

One of the few responsibilities government has are to secure our sovereign borders, and they could even do that... Instead government and our leadership aided and abetted an epic violent invasion of our country.

This monster government is the cause of most all of Americas problems,

[GOPJ]

It was a stacked deck. Subprime loans were forced on banks - Freddie and Fannie raked it in while letting their buds in the financial world know derivative “bets” would be covered...

[knarf]

Jimmeh Cahtah ... CRA .. 1977.
Probably a forerunner to guaranteeing Jimmeh a job and bloviating his humanitarian desires a la Houses for humanity, or whatever the hell it was called.

[dragnet2]

Speech by President George Bush pushing corrupt liar loans.

Everyone should listen to this speech.

http://www.youtube.com/watch?v=eW9viaJatpo

[carolinacrazy]

Unfortunately this is a sophomoric view of this entire mess. Although people from both parties would like to lay the blame firmly at the foot of the other, this is not possible, as both parties share equal blame. And it actually goes beyond parties, because the people who are in DC “running” our country actually have no idea how their legislation will effect the nation 10 years down the road. They aren't that smart.
Deregulation did play a part when it was coupled with Wall Street's blatant greed and irresponsible leveraging. And the liberals attempt to grant poor people middle class status through home undeserved mortgages without requiring anything of them accelerated the problem. When it comes to this idiotic government it is never one or the other to blame, it is usually all of them.

[dragnet2]

For those that might have missed this Bush speech of him pushing subprime, liar loans for millions of unqualified minorities.

http://www.youtube.com/watch?v=eW9viaJatpo

[mysterio]

What Caused the Financial Crisis?

We outsourced a lot of our manufacturing sector, resulting in those workers working for significantly less pay. People stopped saving and started borrowing to maintain their standard of living. The housing bubble inflated home prices and then burst, mortgage payments became unaffordable, and people started running out of credit. Then our refusal to make our own fuel caused gas prices to skyrocket. That was the final blow.

I guess cheap stuff wasn't cheap after all.

[Jacob Morgan]

Don’t forget that the media would, on clock work regularity, print articles about this or that study about how hard it was for certain minorities to buy a house and that the government had to do something about it.

[pyx]

What Caused the Financial Crisis?

Barney's Frank.