If the Media told the truth about this crisis, what would happen this November?
by Mortgage Rates on Saturday, November 13th, 2010 | 9 Comments
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Exactly what is going to happen. Our GOP will face another bloodbath, much worse than 2006. We will lose control of the White House and the Senate and House. The democrats will be in full control. We cannot afford to touch reality with this issue. The best thing to do is to smear Obama, play to the fears of the liberal middle and working class on race….. connect them to taxes and welfare, crime, and try to scapegoat – blame it on people who are the victims of predatory loans, ethnic minorities, the democratic congress even though they don’t have a veto proof majority (yet), a liberal conspiracy to bash our president Bush, even the liberal middle and working classes for not working hard enough!!!
Our Phil Gramm and John McCain won’t listen to these whiners and their mental recession! Let them EAT CAKE.
They can make do with a hell of a lot less.
McCain/Palin ’08!
The Republicans would be annihiliated, despite your cut and paste spin attempts.
The Repubs handed the keys to the vault to wall street and now wanna pass the blame. Do you even know what a credit default swap is? Look it up einstein.
Surprise! Republicans trying to blame Bush’s economic failure on the Democrats.
I know. Both parties are to blame for this. There really need to be some investigations done concerning Dodd, Obama, and Kerry as well as others. They were the recipients of the largest sums of money from Fannie and Freddie. McCain would win the election because at least he had some concern for the country. None of the wanted to burst the housing bubble created by the sub prime mortgages so here we are.
Well they could either lie like you just did, or they could tell the truth and burn McCain’s bridges for him.
McCain supported Chuck Hagel’s bill that was it. Then a Republican dominated congress and executive office let Hagel’s bill go nowhere but die when the next session of congress took office.
The real thing that caused this problem was Bush fed reserve appointee mismanaging interest rated at the federal Reserve causing dollar value to plummet, while causing oil, fuel, commodity and food prices to shoot thought the roof leaving people who once could afford their home loans to no longer be able to pay them.
Then you have the Financial Modernization Act that was passed by a Republican dominated congress in 1999 allowing regulators to escape another Keating scandal, because they no longer were able to regulate the important factors leading to the crisis of the 80s that costed taxpayer 400 billion.
Obviously you aren’t familiar with this crisis or the one from the 80s or the 70s or during the great depression where JP Morgan bought billions in assets each time.
If there were a truly unbiased reporting of this financial mess, no democrat would ever be elected. That’s the truth.
Your rant is foolish at best, the Home loans that went in under Clinton are paying better than many other than the traditional loans, the SPECULATORS who skirted the rules caused this and as you see more of where this mortgage paper originated in the near future this will all bear out, those who violated the regulations caused this not the rules themselves, it wasn’t necessarily the need for new regs as much as it was the need for enforcement of the existing and that burden s going to fall squarely On the shoulders of this administration where it belongs
and please spare us all the drivel that McCain somehow had some vast insight given the fact he’s screamed for less regulation for years and he’s so deep in bed with Freddie and Fannie lobbyists it’s sickening
elliot spitzer explained it his article written 2-14-08 4 weeks before ………