Pundit,
Alright, as much as I don't like to, I have to give some cred to CT, he might have gotten a part of the Sub-Lame crisis causes right. His political writing idol, Charles Krauthammer, and him seem to agree at least on the start of the Bubble going pop! I am just glad I got to the Townhall rag before he did, I would have never heard the end of it.
For decades, starting with Jimmy Carter's Community Reinvestment Act of 1977, there has been bipartisan agreement to use government power to expand homeownership to people who had been shut out for economic reasons or, sometimes, because of racial and ethnic discrimination. What could be a more worthy cause? But it led to tremendous pressure on Fannie Mae and Freddie Mac -- who in turn pressured banks and other lenders -- to extend mortgages to people who were borrowing over their heads. That's called subprime lending. It lies at the root of our current calamity. [1]
My little resident brain child (sacrcasm)wrote this in An Obama Fact Check, Sub Prime Finger Pointing ,
Let's backtrack to the Community Reinvestment Act and its amendment n 1995, under then President, Bill Clinton. As passed by the Carter administration, the CRA was supposed to provide credit, including home ownership opportunities to undeserved populations and commercial loans to small businesses. [2]
This might be the technical reason, but, what the Hamster and CT forgot is the personal reason. Greed and forgetting about you and me, the working guys and girls. Changing outdated regulatory laws, make a quick buck with some creative financing, and let's giveaway money to people who cannot repay it. Nothing in there for the middle class average working stiff from either party. Repubs driven by helping the corporate rats and the Demos driven by helping people with their damn hands out. Where is our representation?
Now the Chuckster does go on to lament, yup anudder big wurd, about "hanging" corporate execs.
Capping executive pay is piffle. What we need are a few exemplary hangings. [1]
I might not be the smurtest guy in da' world, but I know sarcasm when I hear it. My opinion is break them, make them donate their fortunes to the American taxpayer. If you make enough money to pay into to taxes, you get a small check courtesy of Wall Street execs and their companies. It won't be much but it sure as hell will send a message. You screw the law abiding, bill paying, decent citizens of this country over, you will pay them back one way or another.
As I see it, CT got most of the technical aspects of the causes correct. But overlooked the need for reparations to the American people, as well as did Krauthammer. Repub morons and Demowitted tards, you better listen and listen well. Your time and chances are running thin. You better get with the program cause the peasants are sharpening up their pitch forks and getting the torches ready to burn. You butt monkeys are gonnna get your collective asses voted out of office sooner or later and then you can sit in your coffee shops pointing fingers at each other while someone else runs the country!
[1] The Economic Crisis: Clearing the Fog
[2] An Obama Fact Check, Sub Prime Finger Pointing
-OmegaPundit
"The last word on everything."
Posts
0 comments :
Post a Comment