Roots of rotten mortgages

Pittsburgh Tribune-Review ^ | September 29, 2008 | Ralph R. Reiland

[Netizen]

The result was widely praised. "It's one of the hidden success stories of the Clinton era," wrote Ronald Brownstein in May 1999 in the Los Angeles Times. "In the great housing boom of the 1990s, black and Latino homeownership has surged to the highest level ever recorded. The number of African-Americans owning their own homes is now increasing nearly three times as fast as the number of whites; the number of Latino homeowners is growing nearly five times as fast as that of whites."

Of course they did. Reverse discrimination at its finest. Home ownership of whites should have grown tremendously as well. When they lowered the bar, it should have been lowered for everyone, but it wasn't. They kept whites from being included.

[Liz]

THE ROOT OF THE PROBLEM: Congress enabled this financial disaster. Sap-happy liberal Congressmen threatened banks with legal action. Banks were hounded, accused of "red-lining," .......when banks were simply doing a lender's job to qualify people for mortgages.

This is the political correctness atrocity at work. It would have been too "judgemental" to tell marginal people they could not afford to buy a house beyond their means.

Political correctness is the sword that slew the economic dragon.

Many of the laws requiring government oversight of the market written after the last great market crash-----in 1929---- were eliminated during the Clinton administration---one of many ignorant moves by the self-absorbed "tolerant and compassionate" liberal Clintons.

It's not beyond reason to conclude that the mortgage/market debacle is the consequences of (1) moral relativity----and (2) disestablimentarianism (the deranged obsession with tearing down the foundation of Western Civilization).

Anything remotely connected to moral absolutes of right and wrong smacks of "religion" to disturbed religion-hating liberals.....and has to be destroyed.

TAXPAYERS DEMAND POLITICIANS (1) SAY THEY WILL REPLACE REGULATORY LAWS, (2) throw out political correctness, AND (3) NEVER EVER ALLOW ILLEGALS AND OTHER MARGINALS TO PROFIT FROM OUR ECONOMIC SYSTEM.

[alrea]

COMMUNITY ACTIVISTS like Saul Alinsky, Barack Obama and Bill Ayers!!

You have the choice of socialism or sustaining assets.

With Carter out on the road getting massive media attention every time he criticizes Bush, everyone should know that this crisis started with his program; one that was encouraged and protected by Democrats almost exclusively. Democrats through government agencies built a scheme to require lenders to loan to less qualified as a means of helping the less fortunate and driving campaign contributions.

We are finding out that mass socialism or "free property" can not coexist with growth, safe assets, low taxes and low unemployment.