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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (8440)	5/24/2009 3:40:58 PM
From: Brumar89	Respond to of 86356

Agree. (eom)

To: Bearcatbob who wrote (8440)	5/24/2009 8:45:56 PM
From: Hawkmoon	Respond to of 86356

They folded like a wet blanket. This was a critical turning point where Bush should have taken the issue to the public. I'm sure someone did the political calculus and recognized it was a fight that couldn't be won. After all, the Democrats would have proclaimed the Republicans are bent upon denying poor people the chance for home ownership. And everyday America wouldn't have liked having their appreciating home prices (and HELOCs) undermined. That said, they could have required National Banks to be personally accountable for the quality and accuracy of the buyers income and information. That would have put a bit of a damper on the unbridled fraudulent mortgage that occurred. Just doing random samples of home loan qualifications would have raised the alarm that fraud and predatory lending was taking place. Hawk