No doubt the GOP is to blame, but oft for going along for a Liberal State
Fair Ride, that ends up not being free! Do you think McCain and the
Republican Blue Bloods will ever learn? I doubt it!
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Nobody ever talks about thus but, just before all these easy-to-get loans
started, Jesse Jackson, Al Sharpton and other "Liberals" - including Ted
Kennedy and other Democrats - were claiming banks were discriminating
against minorities by not giving them loans.
The banks told them the people were being turned down for legitimate
reasons, but - of course - the "liberals" didn't want to hear that. They
started threatening lawsuits if the lenders didn't loosen up their lending
requirements.
Well, they loosened and people with bad credit, and no common sense about
managing money, went out and got interest only loans for houses they
couldn't afford...and, of course, those borrowers started defaulting.
NOW, the same "liberals" are accusing the lenders of "predatory lending
practices".
You can never satisfy the left. If you don't do what they demand, they
vilify - and sue or legislate - you to death. IF you DO what they demand,
they STILL vilify, and sue, and legislate you to death when the crap hits
the fan.
It is amazing that they get away with this over and over and over. They
demand things that go against common sense, then - when their air-headed
policies fail - they blame everyone except the TRUE source of the problem -
themselves. -
http://www.topix.com/us/2007/11/subprime-crunch-the-next-depression
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"Freedom is the recognition that no single person, no single authority
or government has a monopoly on the truth, but that every individual life is
infinitely precious, that every one of us put in this world has been put
there for a reason and has something to offer." - Ronald Reagan
Stupendous Man
http://www.myspace.com/stupendousfriends