The Real Culprits in the Mortgage Meltdown

Discussion in 'Money Talk$' started by carpro, Sep 16, 2008.

  1. carpro

    carpro
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    http://www.ibdeditorials.com/IBDArticles.aspx?id=306370789279709

    The Real Culprits In This Meltdown

    By INVESTOR'S BUSINESS DAILY

    September 15, 2008

    Big Government: Barack Obama and Democrats blame the historic financial turmoil on the market. But if it's dysfunctional, Democrats during the Clinton years are a prime reason for it.

    Obama in a statement yesterday blamed the shocking new round of subprime-related bankruptcies on the free-market system, and specifically the "trickle-down" economics of the Bush administration, which he tried to gig opponent John McCain for wanting to extend.

    But it was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street's most revered institutions.

    SNIP

    Market failure? Hardly. Once again, this crisis has government's fingerprints all over it.
     
  2. betterthanideserve

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  3. poncho

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    #3 poncho, Sep 16, 2008
    Last edited by a moderator: Sep 16, 2008
  4. Bible-boy

    Bible-boy
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    Another CTist?:tonofbricks:
     
  5. Revmitchell

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    Thanks for posting this. Clinton's failed policies are coming to haunt his legacy. But hey don't judge a lib by their results. Just hudge them by their intentions.
     
    #5 Revmitchell, Sep 17, 2008
    Last edited by a moderator: Sep 17, 2008

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