Here's the cause of the housing bubble and subsequent meltdown..

[Big J]

greed on everyone's part was the cause of all of it, plain and simple. Wall street and banks thought it was easy money, people wanted more house than they could afford, everyone wanted a slice, and the whole thing went to ****.

[willum14pb]

OK ADMIN, Got it. I'll answer as though I was speaking to the a directly:

Originally Posted by Liberal
both are at fault you can not deny it.

How's that? The extent of the Republican blame was to whatever degree they voted like liberals - and there are some who do so. Did any Republican receive a sweetheart mortgage loan, or was it all Dems? I honestly do not know that. I know this: it was nearly entirely (if not fully entirely) Dems who were pushing for "low income housing mortgages", particularly Carter, Clinton, Frank, Dodd, and Obama - just as the video explains.

This is an excellent (and horrible) example of liberals abusing the power of government to socially engineer an outcome they desire, while simultaneously having no understanding whatsoever of the nature of economics. In this case, they created an artificially permissive market, ensuring a huge supply of unqualified buyers. The demand for homes, therefore, spiked huge. When that happens, the prices of homes absolutely skyrockets, creating this massive bubble. These same people used the artificially created equity to buy other assets on credit, compounding the problem.

Misguided liberal intentions screws markets each and every time they are given a chance to social engineer outcomes. Nearly no liberal has any understanding of the fundamental nature of the economy, nor how human nature is best checked by it with little government intervention save to punish illegal behaviour.

[/quote]
dems/reps all have a hand in making policy.
[/quote]
Massive generalization. This policy was engineered by democrats.

our houses are too split to say one had more a hand then the other.

You're trying to make this is red/blue issue. It isn't. It's a liberal intrusive social engineering versus free market conservative issue - regardless of what party each player claims to be a part. I know of no conservative who voted for these artificially created mandates.

end of clintons administration was going into a down turn and bush has failed to work w/ dems to strengthen our economy since day one. he has been far to worried about iraq.

He got a tax cut passed. That was all he could do. What else would you have had him do? Dems weren't willing to cut taxes any more, and that's one of the only things which would have helped. Cutting spending also would have helped, and he should have done so. Bush is a tax and spend moderate, and he played into the leftist's hands far too often - likely because he wanted adequate funding for the War in Iraq. The latter I agree with, but how he went about it, and what other spending he allowed is something with which I disagreed.

well since you know the bill so well post it up and we'll pick it a part...

Which bill? The initial proclamations skewing the market for mortgages, or the bill meant to reverse the damage? The latter has already been posted. If you think you can pick something apart, you should post it yourself.

b/c i'm sure thats why it never made it to begin with.

You're the one claiming proper conclusions without even knowing the facts, not I. You sound like you've drawn a conclusion in search of facts. You should do it the other way. Don't be close-minded: this is about a stupid liberal socialist policy which has caused tremendous harm to our economic well-being.

you are trying to act like you know what you are talking about b/c you watched a 9 min youtube vid...

That's interesting, considering I posted the exact same thoughts contained in this video 1-2 weeks ago, and continued to do so. This video is simply a very powerful conflagration of exactly what I've been saying. So, to turn it back on you, you're trying to claim I don't know what I'm talking about because of a 9 minute video. That isn't a rebuttal; it's a complaint - and a baseless one at that. Refute the content, or choose to agree with it, and change your mind. Any other choice is simply evidence of your partisanship at all cost.

i did start watching your vid but couldn't make it past first 3 before i was bored to tears.

That was a not a boring video. That was you sticking your fingers in your ears, because it was packed full of facts which are very uncomfortable for the hard leftist.

i would much rather read the proposal bush had

So go read it! What's stopping you?

by your example i guess everyones an expert since they can youtube political vids... i guess if i get out my iphone and start surfing i can be an expert like you.

typical response from someone who really has nothing better to say, and refuses to look at the facts inside the video.

The bottom line is any such comment is an attempt to deflect from the content, and is an ad hominem. A very weak one at that.

but how about you post the policy bush tried to get support for that didn't make it.

H.R.1461

not your take on it but the actual policy itself so we can see what was so good about this deal that dems wouldnt support it.

The Dems didn't want F&F to have their gravy train interrupted, and they had sweetheart mortgage deals as bribed insurance. They believed in their social engineering, and were too stupid to understand that you cannot manipulate the markets in that way and not pay a very steep price. It may turn out that the more insipid leftists - the strident socialist ones - knew the eventual outcome of this, and knew that the massive government bailout that would be needed would simply consolidate Government intrusion into a key segment of the private sector.

Just listen to what the Dems are saying now: they're pushing that this bailout also includes allowing the Government to hold assets of private companies "so that the people can profit from this investment when these companies recover".



You're seeing the Socialists push for Communism, and State owned assets. The government has no business owning businesses.

[alpine_aw11]

greed on everyone's part was the cause of all of it, plain and simple. Wall street and banks thought it was easy money, people wanted more house than they could afford, everyone wanted a slice, and the whole thing went to ****.

THANK YOU. This is what needs to be touched on instead of this blaming parties bs. The government has nothing to do with people being stupid, plain and simple. If American citizens would stop acting like they can afford anything they want without making the money to support it, situations like our economy is currently in wouldn't happen. CEO's of big business are going to capitalize on dumb average joes, that's just the nature of big business. Maybe if the people getting these loans would've planned ahead, we wouldn't be in this ****hole.