Wednesday, October 24, 2012 9:43:23 PM
Oh, so I suppose the continuation of CRA policies for 8 Bush years was Clinton's fault too? No, Bush takes part of the blame. I remember him bragging about how more people were buying houses. But the problem didn`t really explode until the Dems took over congress in 2007. That`s when they started really leaning on the banks to make these bad loans. This pushed more and more buyers into the housing market which caused the bubble in prices. Then when the bubble burst, as bubbles ALWAYS do, millions of people were left owing more than their houses were worth. Then when they started defaulting on their loans, the secondary mortgage market collapsed.
The bubble and the subsequent collapse were caused by liberal authoritarian government policies. Since they broke it, I guess they had some obligation to fix it. The better solution would have been to have kept the government out of the housing market in the first place.
Wednesday, October 24, 2012 9:09:57 PM
Did someone do something bad to you as a child? What exactly happened to turn you into such a self-serving, hate machine? patchouly, if that's the best retort you can come up with, I can only take it to mean that you have no facts or logic to refute what I said.