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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (434548)	11/12/2008 12:30:06 PM
From: i-node	Read Replies (2) of 1574307

To call for greater access to mortgages and then bridge to deregulation resulting in reckless banking practices, with ever stranger lending instruments, subprime ARMs, and the liabilities created by derivatives like default swaps, all triggered by the decline of the housing market in overinflated geographies...to say that these issues are frank's doings is stupid and partisan and would lead to a less than useful exchange. Housing markets are just that - markets. They go up and they go down. Derivatives aren't the problem. Bad loans are. It is Frank and Dodd and the others who are in the pockets of the banks (that would be Obama and Biden) are responsible for the provisions that REQUIRED lenders to make bad loans. Bush didn't do that. That's not to say that Bush couldn't have pushed back against it, but the basic problem is the Obama-esque concept that "everyone is entitled to home ownership". Utterly stupid.

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