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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (211962)	12/17/2012 4:03:55 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 541192

Maurice, I just don't follow your logic. To blame the home owners is nuts. Home buyers didn't cause the economic implosion; banks did! That's why they dumped hundreds of billions into the banks so that the entire economy didn't lock up. Bush was absolutely the dumbest president this country has ever had. Maybe Obama can pull us out of the mess he created, but I'm still cautious. People who try to blame homeowners just lose all credibility with me.

To: Maurice Winn who wrote (211962)	12/17/2012 8:13:14 PM
From: Jeff Hayden	1 Recommendation Read Replies (1) \| Respond to of 541192

Alan Greenspan wasn't really hiding behind a curtain somewhere making people bid those high prices. No. But he was in control of lending interest rates. It's clear he should have let the rates rise to levels painful enough that people wouldn't borrow mortgage money - but he was so anti-inflation, keeping rates moderate to low, that he did fire-up the housing bubble anyway. Peopled have to realize that inflation is a natural governor on our economy. There are very low rates today, but most people can't qualify for loans these days. So the available money sits in banks.