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Politics : President Barack Obama
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To: Jim McMannis who wrote (105002)11/30/2011 11:54:49 AM
From: tejek  Read Replies (1) of 149317
 
RE:"We can put light where there's darkness, and hope where there's despondency in this country. And part of it is working together as a nation to encourage folks to own their own home."

Seriously. What President or politician would say they don't support home ownership?

Laws to encourage home ownership have been piled on for years. One of the biggest ones were under Bill Clinton. re. up to $500k cap gains exemption on sale of a home. Plus FHA/Fannie promotion.

The housing bubble was a long time coming.

Nonsense. The percent who owned their own homes remained pretty static all through the 90s. That percent did not begin to change significantly until Bush took office. And that increase did not come form the passage of any particular law but from bankers, realtors, appraisers, wall streeters, et al BENDING existing laws to come up with exotic new housing loans or to cause people to qualify when they shouldn't have or to make homes appraise at a particular level, and then to package the crap in exotic new financial instruments . And why did that happen under Bush? Because Mr Bush was a Republican 'free' marketer who signaled very clearly that gov't regulation is bad. And all his R cronies got the signal loud and clear and acted accordingly.

McMannis, stop trying to convince us there is no difference between Rs and Dems; that they are all the same. Its not true. The Rs are trying to suck this country dry in order to benefit their 1% and corp masters. That's as clear the words on this post.
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