Posted on 06/03/2012 5:22:39 AM PDT by Yashcheritsiy
It was determined a long time ago, that hot money from all over the world would fund big business and mortgages. Forget small business, that had to continue to rely on bank deposits.
Mortgages and Big Business are funded by hot money. Hence, housing bubbles and momentum trading on Wall Street. The average investor has no clue that all this is going one.
One of the pioneers of this strategy was George Romney, Mitt's dad.
This funding through the securitization of mortgages resulted in the first subprime lending machine. Mitt Romney believes in this, even though small business is the key to prosperity. Jobs are the key to prosperity, not housing. Yet, government has found it easy to fund a quick boom in housing, creating a false sense of prosperity.
Housing jobs, should be a result of foundational jobs, not the end all and be all of prosperity planning!
As it turns out, Mitt Romney has hired two advisors that advised George Bush, wanting a housing bubble with hot money that did come to pass. Even though the subprime escapade of the early 1970's failed, and the subprime fiasco of the 2000's failed, Mitt believes in this method of stimulating the economy, on the backs of the middle class, because of who he has hired and because attempts to fund small business seems to have a high rate of failure or bad press, as Obama found out in trying to fund green companies.
(Excerpt) Read more at businessinsider.com ...
““Like father, like son” is pretty weak substance on which to build a credible case.”
Yah, agree. However, the old man came up with some real dogs during his tenure as CEO of American Motors. A couple of exceptions being the Hawk and avanti, cool cars for sure. Just making a funny, I doubt that anything could have saved AMC to be objective, it just lacked the juice to compete with the Big Three in those days...
Better to take a chance of the Romney’s fathers policy then 0bama’ father’s policy!
Did you check on the tax increase Romney DID vs. intentions in MA? Nothing good comes out of evil. His supporters refuse to vet the POS.
I was in the MA GOP at the time—I need no enlightening on the man—he’s a big government, liberal technocrat who will say or do anything to get elected.
But this is a BS excuse of an article.
Daddy Romney ran Michigan into the ground by setting it on a “Tax & Spend” path.
Sonny Romney did the same in Massachusetts - taxes, Taxes finally Taxachusetts was created!
A Pox Upon Them!
Taxachussetts has one of the highest (if not the higest) debt to GDP ratios of any state in the republic.
http://www.usdebtclock.org/state-debt-clocks/state-of-massachusetts-debt-clock.html
It’s amazing that Mittens likens himself to a states’ rights kind of guy...in regards to Romneycare. A 10th amendment totalitarian is no different than a commerce clause collectivist.
I’d say they have their faults but most Conservatives have a religion, unlike Democrats.
bttt
Business Insider is a lefty troll site.
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