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Politics : THE WHITE HOUSE -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (23316)	10/6/2008 2:12:39 PM
From: TimF	Read Replies (1) \| Respond to of 25737

Home ownership has LONG been encouraged by the government in America. And it kept becoming more and more encouraged, with the incentives tilted more and more towards home ownership. Over investment in a particular area in response to such distorted investments should hardly be a major surprise. And, anyway, as I've already pointed out: all the 'sub-prime' loans in the world wouldn't amount to 10% of the structural impairment in the world's financial systems today Sub-prime, and also bad real estate loans that didn't qualify as sub-prime when they where made (which makes it more than 10%), are the area where things started to fall apart. The rest that are bad, are to an extent bad because of the rot spreading from the real estate problems. If the real estate bubble hadn't inflated in the first place we wouldn't have this massive bailout going on. If it hadn't collapsed, then we wouldn't be seeing something like it now (although we would probably just be storing up the problems for later).

To: DuckTapeSunroof who wrote (23316)	10/7/2008 11:10:38 PM
From: GROUND ZERO™	Read Replies (2) \| Respond to of 25737

Congress forced the banks to make risky loans... Politicians are the only people in the world who create problems and then campaign against them. Have you ever wondered why, if both the Democrats and the Republicans are against deficits, we have deficits? Have you ever wondered why, if all the politicians are against inflation and high taxes, we have inflation and high taxes? You and I don't propose a federal budget. You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does. You and I don't write the tax code, Congress does. You and I don't set fiscal policy, Congress does. You and I don't control monetary policy, the Federal Reserve Bank does. One hundred senators, 435 congressmen, one president, and nine Supreme Court justices 545 human beings out of the 300 million are directly, legally, morally, and individually responsible for the domestic problems that plague this country. GZ