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.
I support Trump completely, he has vision, he has loyalty, and he speaks for the people.
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.
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.
Excellent observation! This race is going to be all about POPULISM, largely due to the TARP bailouts. It resulted in two huge political movements, the Tea Party and OWS. Polar opposites of the political spectrum, but in near full agreement on this issue.
In such a paradigm Trump may be the most Conservative candidate who can actually win. At least he is free of Beltway Republican Chamber of Commerce fingerprints.
That essay is fantastic. I would expand its scope. TARP is just the proxy for the ideological battle that was won by the left. A laundry list of similar, in ideology, laws or actions could be added.
Yep. If the GOP establishment had stuck to honest and sound financial and governing principles, it wouldn’t be in the mess it is and neither would we. This was Bush’s greatest mistake - not getting involved in Iraq. It assured the Democrat Party and the Muslim now in the White Hut would gain total power.
The Crony Capitalist banks and Wall Street are not the free market/main street.
They are the farthest thing from them.
At its core, the Federal Reserve is a wealth transfer mechanism. From the middle class/small business to the Government and Banks.
So the articles premise that the free market failed is false.
Food for thought. Can’t say that I disagree much with the author’s viewpoint.
I support Trump for many reasons, but the over-riding reason is he is unabashedly “America First” candidate, more than any candidate who has appeared on the scene since I became a US citizen in 1970.