A Lotta Blame Going On These Days

Posted: September 16, 2008 in Economy

Investor Business Daily yesterday did an editorial that gives some explanation behind the current market meltdown.

There is no doubt in my mind that government had no business mandating “affordable housing”. It sounds good at first, but it was by far one of the most dopiest social engineering projects to date. Now we as taxpayers are about to pay for it big time.

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Comments
  1. Wizz says:

    Could you point me to the law or regulation that mandates that banks make dumb loans? You could be right but I haven’t seen it. I’ve been searching but I see not one law requiring a bank to offer sub-prime, interest only loans, to people who can not even prove their income, so that they can afford $500,000 houses.

    All roads always lead back to Clinton… Republicans controlled every aspect of government for six years straight and still control the white house but somehow everything is Clinton’s fault.

  2. Duane says:

    Could you point me to the law or regulation that mandates that banks make dumb loans?

    You are a good researcher. Look it up.
    The article makes reference to it, so that should give you a good start.

    Republicans controlled every aspect of government for six years straight and still control the white house but somehow everything is Clinton’s fault.

    This is you making this assertion, not me or this the person who wrote this article.

  3. Wizz says:

    This is you making this assertion, not me or this the person who wrote this article.

    No, this assertion comes from the article that YOU linked to.. Not me. The whole article is about Clinton.. Did you read past the first two paragraphs?

    The article stated no such law that required banks to give out poor loans.. That’s just B.S.

  4. Duane says:

    Did you read past the first two paragraphs?

    Actually, I did. Apparently you missed the part about corporate greed.

    As far as anything else you couldn’t find in the article, I’m not going to waste time pointing out sections you clearly skipped. Again, just as you are able to dig up Republican infractions in this mess at the drop of a hat, I expect that you can prove the author of this piece wrong when he mentions about Clinton and company’s hand in this mess instead of just saying “I haven’t seen it”.

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