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Old 09-24-2008, 03:02 PM
Pismo10 Pismo10 is offline
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Default Everyone is to blame....

The dems for easing lending standards and pushing these high risk mortgages in the 90s and for blocking Fannie reform in 2004 when Fannie was getting totally out of control.

Bush for not trying harder to correct these errors (or even realizing them)

The repubs for deregulating insurance covering these loans making the now totally inadequate.

The fed for lower than low rates for too long.

The people for borrowing toooo much when they really knew better.

And on and on...

Everyone loves a party until you have to clean up.

Last edited by Pismo10; 09-24-2008 at 03:04 PM.
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Old 09-24-2008, 03:15 PM
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Quote:
Originally Posted by Pismo10 View Post
The dems for easing lending standards and pushing these high risk mortgages in the 90s and for blocking Fannie reform in 2004 when Fannie was getting totally out of control.

Bush for not trying harder to correct these errors (or even realizing them)
He realized them. That's why he's tried so many times to get the legislators to address it, starting in 2001. What I blame Bush for is his speeches that also pushed and touted "a home for everybody" mantra of the Democrats. We've got to get over in this country the fear that IF we don't go along with some of this crap, that we'll be labeled either a racist or uncaring about the poor.

Quote:
Originally Posted by Pismo10 View Post
The repubs for deregulating insurance covering these loans making the now totally inadequate.

The fed for lower than low rates for too long.

The people for borrowing toooo much when they really knew better.

And on and on...

Everyone loves a party until you have to clean up.
Yep. FREE gov'mt money for everyone. A chicken in every pot and everyone owns a home----regardless of whether they can afford it. That's gotta stop.
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Old 09-25-2008, 06:12 AM
Pismo10 Pismo10 is offline
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Let's not forget the rating agencies who said all this garbage paper was AAA.
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