The Democrats Dunnit.
David Asman hosted an excellent, comprehensive and truly fair and balanced documentary the other night on Foxnews Special called "Saving Our Economy."
There is a campaign underway right now from the Left that's trying to pull blame away from Fannie Mae, Countrywide, other guilty institutions, and the significance of subprime lending itself (in relation to the scale of the economic breakdown) and place it on other things (like "Republican deregulation," which is nonsense, despite the frenetic posting of economic Kool Aid from "experts" who are devoid of non-partisan objectivity).
It is an organized campaign from the Left to deflect and sow confusion (an environment in which they thrive).
Ignore them. They're liars. "Saving Our Economy" is the best summation, with links to it in six parts below (embedding codes were available, but for some reason could not be cut & pasted in their entirety).
Many questions are answered here-- as well as my own regarding McCain's reluctance to go there when debating Obama, even when asked point-blank about causes: McCain himself received contributions from Fannie Mae (though a lot less than Obama).
Nevertheless, it's clear what happened.
If you haven't seen it yet, I highly recommend that you take the time to watch all six segments of the special.
http://www.youtube.com/watch?v=v0g0mtZyZB4
http://www.youtube.com/watch?v=T8ziPZyGf3g&feature=related
http://www.youtube.com/watch?v=Zqw9UzUtxbg&feature=related
http://www.youtube.com/watch?v=2qVuG7-fsWM&feature=related
http://www.youtube.com/watch?v=CKu8Jg4TOsg&feature=related
http://www.youtube.com/watch?v=J2nHqJZazuc&feature=related
There is a campaign underway right now from the Left that's trying to pull blame away from Fannie Mae, Countrywide, other guilty institutions, and the significance of subprime lending itself (in relation to the scale of the economic breakdown) and place it on other things (like "Republican deregulation," which is nonsense, despite the frenetic posting of economic Kool Aid from "experts" who are devoid of non-partisan objectivity).
It is an organized campaign from the Left to deflect and sow confusion (an environment in which they thrive).
Ignore them. They're liars. "Saving Our Economy" is the best summation, with links to it in six parts below (embedding codes were available, but for some reason could not be cut & pasted in their entirety).
Many questions are answered here-- as well as my own regarding McCain's reluctance to go there when debating Obama, even when asked point-blank about causes: McCain himself received contributions from Fannie Mae (though a lot less than Obama).
Nevertheless, it's clear what happened.
If you haven't seen it yet, I highly recommend that you take the time to watch all six segments of the special.
http://www.youtube.com/watch?v=v0g0mtZyZB4
http://www.youtube.com/watch?v=T8ziPZyGf3g&feature=related
http://www.youtube.com/watch?v=Zqw9UzUtxbg&feature=related
http://www.youtube.com/watch?v=2qVuG7-fsWM&feature=related
http://www.youtube.com/watch?v=CKu8Jg4TOsg&feature=related
http://www.youtube.com/watch?v=J2nHqJZazuc&feature=related
posted by John | 11:40 PM
20 Comments:
I would express my thoughts at the moment but I don't use that kind of language.
Between your entry and this...
GREAT BIG SIGH!
I had a commenter send me a time line going back to 1909 trying to show me how it all is caused by Republicans!
Of course there is enough blame to spread around, including individuals signing loans they could never truly hope to pay.
James must be going nuts with the HUGE government intervention.
Especially "individuals signing loans they could never truly hope to pay," jm.
But of course, they were "entitled" to it.
"James must be going nuts with the HUGE government intervention."
I would put bets on it!! I am not happy with it either....he says he'll make a Libertarian out of me, yet...
I say they shouldn't have been involved in this in the first place...as he would, but, once Fannie Mae, et al were in place, there should have been better oversight. If I were going to back something I sure as heck would want to make sure the risk was as low as possible. They were reckless with tax payer money.
Jungle mom, I like what you said about this being partly on the shoulders of the individuals. We would gladly pay you Tuesday for a hamburger today...
I am not saying that there are people who truly fell on hard times AFTER getting the mortage. But people who could only qualify because of sub prime lending are a huge risk to begin with and that was the contributing factor.
But the ballooning of the price of real estate has been part of the problem in getting affordable housing. And now...there is a subdivision behind my house that has NO houses...just streets, street signs, lights, fire hydrants and empty lots...and a park. It has been that way for months. They can't sell the lots for what they paid for them.
BTW..I have my State real estate exam tomorrow...wish me luck!
Good luck.
The Nobel committe smiled on America again this year. Big day for the Times. Last year was the year we won the most prizes.
As you guessed, I am pretty steamed over us socializing a huge part of our economy. I was cheering both the Democrats and the Republicans that had the nads to stand up and say NO to all of that madness. I was at least mollified to some degree that it was by no means a unanimous vote.
McCain can still win. But he has to clean house - His rallies have become international embrassments.
Palin should bow out (too late for that) and McCain shoudl be more aggressive distancing himself from Bush. He is Bush's prisoner. Aside from the mess, he inherited Bush's low-info voter base that feeds on these noxious lies about Obama. So McCain is stuck with this base, but it's so destroying his popularity with educated voters.
I humbly disagree that he is losing educated voters. He is losing socialists, and they are not necessarily the same. People are upset that conservatives are actually showing some emotion for once. That is not supposed to happen because of the 'solid businessman' image that has been fostered over the years.
Anon, why do you think Palin should bow out? She is a huge reason many people are voting for McCain rather than sitting home on election day or voting 3rd party.
BTW..John, I passed!
Congrats. Good time to enter the Real Estate business, I think (I'm serious; you won't be commanding the exorbitant commissions, but you'll be building the industry back from the bottom up, and sanely, this tme).
Actually, there is more to the real estate industry than commissions. There are going to be a lot of people looking into the rental market...good time to get into that end of things, me thinks.
Oh, and fixing up a few houses that are on the run-down side and making them more attractive to buyers.
"Actually, there is more to the real estate industry than commissions."
Duh, Kelly. I assumed you were just going for a position as a commission-based agent.
Palin has become an embarassment. Sad to say. When Mac first picked her, it seemed like a possible Doug Flutie Hail Mary moment. Unfortunately, Palin has turned out to
attract the worst element of the GOP. screaming about
"socialism" (Bush just nationalized the banks) and whatever else
they hear on Rush or read
in ridiculous emails.
Sometimes Palin rallies. with their large collection of morons and
uniformed cops,
resemble a modern version
of Mel Brooks Rock Ridge
and this puts Obama in
the roll of Sheriff Bart
and Biden as the Waco Kid.
You can practically hear
McCain thinking, "OMG!"
McCain has long ridiculed
the moron faction of the GOP. He used to make
the same tinfoil hat jokes
and magnetic underware
jokes about the people
he now wants votes from.
Sure, he'd love to smear
Obama as a socialist. Who wouldn't?
But he can hardly get away
with that with Bush
nationalizing the banks and Obama campaigning
on a platform that is to
the right of Merkel, Sarkozy, or Berlusconi.
John, actually, I got into this to make it easier to do the rest....and didn't mean to make it sound as if you didnt know anything. sorry if it did...:(
I'm sorry I went "duh." I'm just a little cranky.
Is all good, John. :)
:)
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