Skip to comments.Why The Mortgage Crisis Happened
Posted on 10/30/2008 12:15:31 AM PDT by EyesAndEars4U
On the eve of what may be the most important election of our time, the financial catastrophe that many believe will most influence Tuesday's vote remains only partially covered by the major media. Though IBD has run many articles and editorials on the so-called mortgage meltdown, one of the most complete timelines of the debacle was written by an independent scholar and published this week by the Web magazine American Thinker. Because the issue is so important, we are running this 7,300-word history in its entirety.
(Excerpt) Read more at investors.com ...
Why the Mortgage Crisis Happened! = Pelosi, Reid, Franks, Dodd, et., al...
The narrative of the Dems for the cause of the financial debacle is now “credit default swaps.” I was watching Sixty Minutes last Sunday, and Steve Kroft was doing the report. He interviewed a number of people I’ve never heard of, and they all agreed it was greedy bankers and credit default swaps that caused the financial mess. It only vaguely mentioned the crisis in the housing market. The FMs and/or the CRA were never mentioned.
Goose, Golden, 1 Each; Deceased.
The tragedy is that this crisis will happen again, because politicans are too PC to identify what caused the crisis.
A long read but an informative one. Democrats were warned repeatedly and every time they tried to get control of the GSE’s the Rats slapped them down.
It is unconscionable that McCain has allowed this financial crisis to be pinned on Republicans. There was so much convincing evidence to the contrary, I can’t imagine why he couldn’t make an effective argument showing the Rats as the villains here.
He should have called out Pelosi and Reid early and often and pinned the declining economy as well as rising energy costs on them.
I have to hope McCain has done enough to win and that Americans aren’t ignorant enough to elect Obama.
I was ignored then, and am still being ignored now. Lack of transparency is THE issue and it has destroyed trust - the lubricant of the financial system.
Until the pigmen are forced to reveal their level 3 assets, consumption will continue to plumb new depths into the abyss as the Fed labors in vain to preserve their ponzi credit scheme.
And we keep electing the people who are killing us.
We have certain areas of the country and sub-groups electing people who may, but worse than that is their uninformed electorate. The two main culprits, Frank and Dodd are from MA and CT respectively. I know many good people back their, but they are epistemologically Brain dead when it comes to politics and the cause and effects of those they vote because mom and dad were Democrats, and they have been educated and indoctrinated by the NEA all they through 4 yrs of college, and they can't change the fact that they don't know they don't know. It is enough to make you wonder what the heck is in the water?
Exactly so. And they’re too complicated for anyone to understand, is also part of that party line.
This is exactly why, when they announced the buyout, I was so adamant about assigning blame before spending any of the money so eloquently stolen from us taxpayers. But blame wasn't to be assigned.
Thank you. We need to know these things.
OUTSTANDING post! Thank you. Quick scan...read later.
/to work (so the socialists can steal more of my time of life)
The newspapers weren't going to kill their real estate ad business..