My brother told me that the republicans were responsible for the subprime crisis. I’ve been reading online and found this. http://iarnuocon.newsvine.com/_news/2008/10/01/1940028-the-republican-roots-of-the-subprime-crisis
Can someone that knows something about economics explain this? Is it just a lie? Seems to be true.
A great thought -- once politics gets into anything it begins to corrupt and then destroy it. Look at education for a clear example.
The problem is, we have one political party (at least) to which politics isn't everything, it's the only thing. They will not relinquish their influence over any facet of our lives...from medicine to home ownership to...everything.
We must kill the beast that is omnipresent and omnipotent politics, or it will kill us.
No derivatives.
Now, some banks may have to join the dust bin of history, but that the way the cookie crumbles.
The real problem is that only the big 4 banks don’t have to submit to the new laws. Only the independent mtg brokers have to comply with, and do the paperwork for, the new laws. That makes for a major slowdown in new loans approved or even applied for. JMHO.