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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (89132)	7/27/2009 1:41:50 PM
From: Peter V	4 Recommendations Read Replies (1) of 94695

he never forced banks to grant high risk loans under the threat of losing their banking charter as obama and barney fwank did, he never covered up that fannie and freddie were in deep trouble as those two did, that's just an absurd accusation... Huh? Obama became President long after the credit crunch started, no-doc and subprime loans had disappeared, and the housing market crash was well under way. I don't get why you are blaming him for this. He was a junior senator before becoming president, and had little influence at all. I edited my post to agree with you about Dodd and Frank. Those guys are criminals. You had a Republican Pres and a Republican Congress for 6 years while the housing boom inflated into a huge bubble. But they share no responsibility? They sat by while the banks and Wall Street made these ridiculous loans and packaged them into "investments." I used to get offers for 125% loans all the time during the boom. Not just no money down, we'll give you 25% on top of what the house cost. That's not just getting unqualified people into homes, that's loan programs completely out of control. Don't lose sight of the fact that both sides of the aisle are largely governed by special interests. Tom DeLay is a prime 'pub example, and as I noted above, 'dems Dodd and Frank are poster boys for that crap. .

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