We are in the best of hands, guided by people with extraordinary foresight and wisdom …
[youtube=http://www.youtube.com/watch?v=iU9vWhObH7A]
(h/t Weasel Zippers via Freedom’s Lighthouse)
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Ron Coleman
Comments
Now dems want to pay off loans for people that have "upside down" mortgages.
Obama says: The coming election is a choice between the policies that led us into the mess or the policies that are leading out of the mess.
I hear this from Obama, and I want to know the details. Which policies led us into our current financial situation?
The Democrats fantasize that it was lower taxes and fewer bureaucratic rules for business that ruined the economy. There is no mention that Banking and Housing are the two most regulated activites in our society.
Just what regulations were relaxed, allowing the "evil" bankers and businessmen to run wild? Name the requlations and name the names. They can't.
People forget that the Congress has been controlled by Democrats from 2006. We are living with 3 1/2 years of intense Democratic policies. The housing crisis is the result of Democratic policies, against the wishes of conservative bankers.
There are special committees in the House (chaired by Barney Frank) and Senate which have the major responsibility for examining lending for housing. They cheered on the housing boom, right up until the bust. Their creatures Fannie Mae and Freddie Mac financed the housing boom, while relaxing the criteria for making loans.
This recession was promoted by collapsing home prices and mortgage losses, after an extended period of government providing easy money and guarantees to support Fannie Mae and Freddie Mac. The government is still doing this. The bad housing policy was designed, encouraged, and required by government, mostly by Democrats.
See -> We Guarantee It – The Government Caused the Economic Crisis
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