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Originally Posted by budw38
Worst post of all time . Blame America < bush > for 9-11 ?? The CIA and FBI directors were Clinton appointees . The intel angency's were hampered by another Clinton Appt. ... American Thinker: Mistress of Disaster: Jamie Gorelick who along with fellow Clinton appt. commited accounting fraud at Fannie and AIG .... False Signatures Aided Fannie Mae Bonuses, Falcon Says (washingtonpost.com) In Sept. 2003 the Bush admin. had reg's on capitol hill New Agency Proposed to Oversee Freddie Mac and Fannie Mae - NYTimes.com only to have dems like M. Waters kill the reg reform ... http://newsbusters.org/blogs/noel-sh...ties-real-time and Clintons Tres. Sec , running Citi and ..... Robert Rubin returns - Eamon Javers - POLITICO.com ... http://en.wikipedia.org/wiki/Robert_...ortgage_crisis so you can see the facts point to Clintons admin ... they signed the bills into law , CRA / Subprime Lending / eliminated the glass-steagal acthttp://www.articlesbase.com/real-estate-articles/the-glasssteagall-acts-loss-is-the-community-reinvestment-acts-gain-731738.html , ran our banks , GSE's and had Frank and Dodd running the house /senate finance committee's ,,,,,, facts , facts , no hope in dope  Oh and if you did not know this , as far as Katrina , only the States Gov. can order an evacuation , which she declined to do , nor would she accept the help of the Nat. Guard .... offered by the the Bush Admin. Facts , facts .... no hope in dope |
Don't even try the subprime blame game. Most foreclosures were people with multiple mortgages. You had people with 6 or 7 mortgages, counting on rising housing prices to make a profit. These are the people who can walk away, because they have homes. There were a few that defaulted, and this was their first home and only home, in those cases it wasn't the subprime mortagage. Beazer homes had people (couples) defaulting on 700 dollar a month mortgages (drug problems). Blame greed and speculation. The reason they had to make subprime mortgages "oh yeah, remember Bush's reelection campaign (Ownership Society)". Democrats had congress for 2 years, republicans for 6. None of their magic cures for america's ills were implemented. Atleast THE democrats can implement an agenda. Ownership society was a money grab plan, they made no stipulation about how many or who gets the subprime loans. They figured two years was all they needed to sell the homes. So they bought many mortgages. Dumbasses built too many houses and market forces forced prices down. Foiled again!!!! The rest is history, first black president etc.