Yeah of course it was the poor people that caused the financial crash. Isn't everything their fault?

I think to compensate the wealthy for the injustice perpetrated on them by the poor we should cut their taxes.

If they didn't want them to have loans why the hell did they grant them in the first place? WTF? Why wouldn't the lender be at fault for a loan he knew you couldn't pay. To me that's just unethical.....

Why wouldn't the lender be at fault for a loan he knew you couldn't pay....

The lenders and the banks and the rest of the con men on Wall Street ARE the primary ones at fault but you have to remember -- those are the Bush big campaign donors -- and his personal friends. Bush is not going to prosecute his buddies. It's easier to make poor people and minorities the Republicans' scapegoat in all this mess.

Yeah, like poor people and poor minorities were the brainchild behind the credit derivative schemes and bundled mortgage securities scam and forced the poor banks and lenders to do it. Uh huh, sure.

Boy if this ain't shitty I don't know what is. Always blaming the lowest person on the rung of life for the fuck ups at the top of the totem pole. Unbelievable.

Larry

I know alot of poor as shit white people in my county that got loans that should NEVER have been approved. They are in default now as well over the ever rising ARM mortgages. Bankers and lenders should have never been making these loans in the first place. They are at fault here. But to bee even handed so are the people who refuse to live within their means. I for one know my limits and try my damndest to not over spend them, which is why I rent and will continue to rent till I have the 5k-7k(?) i will need as downpayment on a small home. I also bought a repair manual for my '97 Geo Hatchback to save money buy fixxing it myself. but this just my thoughts

"By and large, the problem with subprime lending was that independent, unregulated brokers pushed inappropriate loans to poor borrowers and to many American middle-class and wealthy consumers who could not qualify for their second or third vacation home and who took a 'liar's loan' from brokers, not covered by [the Community Reinvestment Act]."

Actually, its the fault of all the banks who set up liar loan programs and the people who took the loans. Brokers are going to try to sell the a person the best program that person qualifies for because that makes the sale easiest. They generally don't make more money for selling shit loans in cases where they could get the customer into a better program. But if someone wants a loan and they only qualify for a liar loan then that is what the broker will sell. You can't blame them for selling loans that both the customers and the banks wanted. That is their job.

Its not just the minorities, it is the middle class.

You gotta love that commercial of a middle class guy mowing the yard with a brand new mower, a nice car in the driveway and the two story new house. He is thinking I am in debt up to my eyeballs.

A lot of appraisers falsely appraised houses 120% to 130% of what they were really worth. The people got their loans. Later on they spent all the money and got another home equity loan. Later they walk away because they owe 150% or what their house is worth and they have no equity!

Bush is not going to prosecute his buddies.

Prosecution of the bastards will not occur on Bush's watch. Plus, since no one has been indicted or convicted of any crime, Bush can't pardon them on his way out.

If the polls hold up and Obama is elected, crimal investigation and if warranted, prosecutions, will be aggressive.

The guilty bastards that perpetrated this calamatity are screwed.

The bad minorities.
They were the ones that awarded themselves hundreds of millions in bonuses days before Lehman Bros. declared bankruptcy, right?

When I was growing up you had to have 20% down to buy a house. We need to get back to that. To allow people to buy a house at 100% ARM mortgage and make interest only payments is insane.

The people who put this sort of thing in place should be held accountable and we need to set rules, regulations, etc. to make sure they cannot do this again.

"They were the ones that awarded themselves hundreds of millions in bonuses days before Lehman Bros. declared bankruptcy, right?"

Nope.

Billions.

#3 | Posted by CalifChris at --

CC--Obama has received way more money from Wall Street and Fannie and Freddie..

There is enough blame to go around. The folks who got a loan with only a pulse are a small part.

The biggest fraud came by way of the accounting methods used to bundle up the loans and sell them down the road.

Then the credit swaps (?)--another accounting hallucination--made up out of thin air to kick these bundles to the next level.

Last one holding the bag loses.

Meaning US--the taxpayers.

" . . . bastards that perpetrated this calamatity are screwed."

#8 | Posted by FedUpWithPols
* * * *

Now that's an angry titty!

I know, through my family, four families that have done "jingle mail". Mailed the keys to the bank and walked away, or just walked away from their pre-build commitment (leaving their 2% downpayment).

White Republicans, all of them, and not poor, either. Smart enough to know they were upside down, in a non-recourse state, and already had a good fixed rate on their first homes.

Print this NYTimes oldie out to remind your kids what a LOT of the housing mess was really all about.

What a load of crap this is! No one worth noting (except maybe some of the Kudlow's of Wall St) is blaming minorities for the current financial situation just about everyone is blaming the greedy "Bankers" who gave mortgages (and other loans) to folks who shouldn't have qualified in the first place or in amounts that were that were out of line with a property's true value for those who did qualify.

Putting a "minority" spin on this is complete and utter BS!

Damn the poor and lower-middle class and their unnatural lust for granite counter tops!

THE UNABASHED LYING CONTINUES ON THE ROAD TO FACISM. THE ECONOMIC CRISIS IS A VERY IMPORTANT STEP IN A THAT PROCESS, along with the bankruptcy bill and Patriot Act.

From the Moron's Website we can read:

"Today's Presidential Action Today, President Bush announced a new goal to help increase the number of minority homeowners by at least 5.5 million before the end of the decade.

The President's aggressive housing agenda will help dismantle the barriers to homeownership by providing down payment assistance, increasing the supply of affordable homes, increasing support for self-help homeownership programs, and simplifying the home buying process & increasing education.

The President also issued "America's Homeownership Challenge" to the real estate and mortgage finance industries to join in his effort to increase the number of minority homeowners by taking concrete steps to tear down the barriers to homeownership that face minority families. Background on the President's Homeownership Agenda Buying a home is the biggest single investment most people will make in their lives. Homeownership is a cornerstone of America's healthy, vibrant communities, and benefits individual families by helping them build stability and long term financial security. But sadly, homeownership is out of reach for many Americans -- especially for minority families. For millions of these families, homeownership is a distant, unreachable dream. President Bush has a comprehensive agenda to help increase the number of minority homeowners by at least 5.5 million before the end of the decade.

While the overall homeownership rate has reached an all time high of nearly 68 percent, the statistics show a clear and persistent homeownership gap" which this administration intends to rectify.

Yet loyal Republicans repeat the lie that Democrats and poor people created this disaster, while Republicans fought against it. LIE.

No money for libraries, schools, roads, healthcare, social security. But when lying us into War and bailing out Wall Street Gamblers, theses greedfuckers find the money in a little over a week. WHERE IS THE OUTRAGE.

The Community Reinvestment Act was used as a quota system to force THOSE PEOPLE into houses they couldn't afford and now we see the results. Affirmative action fucked up the Government Agency that I used to work at, and pushed THOSE PEOPLE into jobs they were not qualified for and into colleges they were not qualified to attend. Now Barry wants more, more more for his voting block, but no matter how much you give the MF's they still are fucked up, their neighborhoods and schools are fucked up. Everything they touch turns to coal, and libs think it is wonderful.

Ranting Thom

s.o.p.

The problem is never that the assholes in charge of the market were wrong. No. It's the poor who did it.

nazi assholes

I thought I heard the poor made up only 30% of the foreclosures.

Look at a chart and see where most foreclosures are. It looks a lot like the red state/blue state map. Go figure.

Well, gee. Which parts of the country are more heavily populated and have more expensive housing?

FWTHOM

I realize this may strain your mental capacities, but the CRA was passed in 1977.

Funny there weren't a rash of foreclosures until the deregulation of the banking industry Phil Gramm slipped into an Omnibus spending bill suddenly allowed and led to the creation of all kinds of financial instruments never heard of before - derivatives, "credit default swaps", "Mortgage Companies" that sprung up faster than dandelions in April who then sold debt which was bundled as the risky and mysterious financial instruments mentioned above.

Of course, in your world this MUST be Jimmy Carter's fault - even though the mortgage meltdown didn't happen until a couple of years ago. Riiiiiight?

The GOP, party of "personal responsibility' never wants to take any responsibility. It's always THEM !!!!! You know, THEM !!!!

Wasn't it Judas who upbraided the woman for pouring out a costly bottle of perfume? Didn't he say, "We could have sold that perfume and given the money to the poor!"???

Moral: Those who speak out in favor of the poor against costly extravagence (ie. the rich) are at heart vile class envy scum who only pontificate and pretend to be on the side of the poor.

Anyone can say they're for the poor. Look more closely and they're probably stealing like the rest they condemn...or working for ACORN...or getting a blow job unerneath the desk in the oval office.

Eat the Poor.

Fuck the poor. Let them move into your neighborhood in a section 8 crack house, libs!

FWThom-
Don't go a'quotin' Jesus on us now, FW.

FW-
Jesus did say this, didn't he:

Fuck the poor. Let them move into your neighborhood in a section 8 crack house, libs!

#25 | Posted by fwthom at 2008-10-13 11:10 PM | Reply | Flag:

I forget where, but I'm sure you can point me to the "Fuck the poor...section 8 crack house..." bit from the Sermon on the Mount or somewheres.

The have to blame the minorities and poor poverty people, they are the only individuals without a national voice.

Jesus sed: "Feed my sheep."

Bush sez: "Feed 'em to the wealthy'"

Speaking of jokes, that article doesn't even pass at one. Have you read it, there's nothing there....

I have been saying this for months. What caused alot of problems was the increase in home values in excess of inflation, which began it's extraordinary ascent in the late 90's. Home prices spiked, and lot's of properties flipped. Because of the turnover, many mortgages were written on values that were unsustainable.

A 30% pull back in those values has slammed many banks. FNM FRE and WM didn't go down because of "cdo's' and derivatives. SubPrime and Alt A mortgages didn't help though....

"What caused alot of problems was the increase in home values in excess of inflation, which began it's extraordinary ascent in the late 90's."

No it did not begin its extraordinary acent in the late nineties. It began when interest rates were dropped to 1% after 9-11. It began because people discovered they could buy bigger houses when their payments were made so low by those extremely low (and temporary) rates of interest. Prices to not fluctuate greatly without an impetus to make them fluctuate.
The attempts by the right to blame the crisis on the low income folks who got too large mortgages in spite of the FACT that it constitutes only a small percentage of the problem is due to the fact that they brought about this entire mess by allowing (encouraging) Greenspan and the Fed to hold rates low to make the economy appear to be growing even as they outsourced jobs and manufacturing to China and other places. In truth no growth occurred though statistics at the time made it appear that it did grow. Finally when the bubble burst all that growth evaporated leaving financial institutions holding mortgages on properties worth thousands less than the principal owed.
That is the truth, the rest is just spin to try and prevent the appropriate blame from falling where it should.

Bankers and lenders should have never been making these loans in the first place. They are at fault here.

But thanks to Republican deregulation those loans were never going to be collected by the bank, just securitized and sold off to wall street.

Of course Wall Street is not to blame either for believing that housing prices could inflate 20% per year forever. It is the poor borrowers fault too.

The government, through Fanny May & Freddy Mac set the tone for lendinding to the lowest common denominator. When the rules change they change for everyone who qualifies. Investors took advantage of the changes. The construction industry boomed because that's where the money was. Anyone I mean anyone with money to invest went into the housing market. Just like the stock market it took a nose dive. Just like the market it will go back up. Money changes hands no mater what way it goes. Left to there own devices the lenders would not have repeatedly made loans that would not have made them money. That's the business they were in. The government, in artificially adjusting the market, caused this problem. There were justifiable reasons for it on both sides of the isle. Dem's and Republicans both wanted to boost the economy and they accomplished it. They wanted more home ownership. They accomplished that too. The question is, Should they have had the power to do this in the first place?

How is it that a law that was enacted
over 30 years ago caused the world's
financial system to collapse? It
didn't. The Republicans are using that
time honored tactic of blaming poor
people of color for problems they have
no control over.

The majority of these sub prime loans
were issued by lending institutions which
were not covered under the Community Reinvestment
Act. Can you say predatory lending?

The CRA was designed to prevent redlining
minority neighborhoods. It outlawed turning
down qualified borrowers simply because of
their address. It never mandated lenders
to drop income and down payment requirements.
That was mandated by the greed and short sightedness of lending institutions.

However, power never holds itself accountable.
It shifts responsibility to those easiest to
blame and it screams about the inequities of
Affirmative Action. And too many Americans
nod their heads in agreement.

"Investors took advantage of the changes."

Then why shouldn't they shoulder the expenses?

"Dem's and Republicans both wanted to boost the economy and they accomplished it."

Politically it was in the best interests of Dems for the economy to be in recession. Greenspan held interest rates low to benefit GEORGE W. BUSH in the 2004 presidential election specifically because GEORGE H. BUSH blamed him for his loss in 1992 because he did not lower interest rates and thus allowed the recession which enabled Bill Clinton to win the presidency.
That is what happened, you can spin it, deny it, but you can't change it.

Then why shouldn't they shoulder the expenses?

If you built a home in a new neighborhood and you were one of the first few houses there. You felt you paid a fair price. Two years later the developer who was the major property owner changes the covenants to allow houses built out of inferior products. You have no say. Your new neighbors are now building houses out of mud. Seemed like a good idea at the time. The problem is now your house is in a shanty town and worth 10% what you paid. Who's fault is it. Yours, the people who built the houses after you or the guy who changed the rules.

Politically it was in the best interests of Dems for the economy to be in recession.

That is what happened, you can spin it, deny it, but you can't change it.
#36 | Posted by danni

I'm not denying it. I just can't belive you would admit it.

"Well, gee. Which parts of the country are more heavily populated and have more expensive housing?"#21 | Posted by AMERICANUNITY

Well, try looking at the map again and see that it is the percentage of foreclosures and not total number of foreclosures.

"I'm not denying it. I just can't belive you would admit it."

Er....in reality we were in a recession the entire time, we just used home equity to borrow our way to temporary prosperity. We get to pay for it now.
I admit it because I don't depend on dishonest talking points to make my points. The truth is the truth whether it benefits my side or not.

Er....in reality we were in a recession the entire time, we just used home equity to borrow our way to temporary prosperity. We get to pay for it now.
I admit it because I don't depend on dishonest talking points to make my points. The truth is the truth whether it benefits my side or not.

#40 | Posted by danni

Funny Flag!!! Danni talking about reality

If they didn't want them to have loans why the hell did they grant them in the first place? WTF? Why wouldn't the lender be at fault for a loan he knew you couldn't pay. To me that's just unethical.....

#2 | Posted by Kenoosh

It came from congressional pressure and 'political correctness'.

You tell me why would you lend money to someone you don't know and you know would never repay you. That isn't unethical, it's fucking stupid.

"It came from congressional pressure and 'political correctness'. "

Bullshit. Neither of those forced lenders into 125% LTV loans, interest-only loans, teaser rates, or balloon payment loans. Nor did it force them to repackage them, re-rate them, and re-bundle them, leveraging bad paper against bad paper.

And don't forget: at least one of the sets of signatures on every loan was, presumably, from a business school graduate.

"Funny Flag!!! Danni talking about reality"

Oh, so you admit you know absolutely nothing about the economy. Thanks.

I dont know about the blame but one thing is positively certain

THE MARKET HAD The best day EVER yesterday and the one thing that you will not read on this site or HEAR on any media outlet is that it happened under the last days of the bush administration
he will get no credit whatsoever for any good news that happens from here on in.........oh hell or in the past either

but IF it happened because of government action, how will obama take the credit because you know that he will certainly try.............

"THE MARKET HAD The best day EVER"

HAHAHAHAHAHAHAHAHAHA

9315.69 -71.92 (-0.77%) Oct 14 11:14am ET

Let us know when it hits 14,000 again.

Biggest Foreign Large Blend Gainers Data Through: 10-13-08

Ticker Name Nav $ Chg Nav $ One-day Return

UNPIX ProFunds Ultra International Inv 12.67 +3.18 33.51
DXDLX Direxion Developed Mkts Bull 2.0X Inv 8.25 +2.05 33.06
PSKIX PIMCO Intl StkPlus Tr Strat (Unhedged) I 6.03 +0.90 17.54
WIBCX Wright Intl Blue Chip Equities Stnd 13.03 +1.81 16.13
PISIX PIMCO International StocksPLUS TR Str I 7.44 +1.03 16.07



Cool! Wait till the close!

good laugh zat but its true

or maybe nore correctly;.........highest gain in its history and still has a long way to go to get back to that 1400 but IT DIDNT JUST HAPPEN ON ITS OWN.

and as to the subject

EVEN obama said something close to this just yesterday when he said that there are plenty of people to blame who took that mortgage knowing they couldnt pay for it
heard it on cnn so it HAS TO be true........

"THE MARKET HAD The best day EVER yesterday and the one thing that you will not read on this site or HEAR on any media outlet is that it happened under the last days of the bush administration
he will get no credit whatsoever for any good news that happens from here on in.........oh hell or in the past either"

If he gets credit for the stock market yesterday then he needs to take blame for the collapse the preceded it. Because one doesn't happen without the other. Its not like the stock market was riding high and then all the sudden had this huge day.

And I don't even believe that the collapse was his fault. I'm just saying that by your "logic" it is.

Bullshit. Neither of those forced lenders into 125% LTV loans, interest-only loans, teaser rates, or balloon payment loans. Nor did it force them to repackage them, re-rate them, and re-bundle them, leveraging bad paper against bad paper.

#43 | Posted by Danforth

If you are so damn smart, what did force them into making real stupid loans? Did they know we would bail their asses out of that jamb?

I know, lets be capitalists with the profit but be socialists with the debt. Is that your world?

I don't blame minorities. I blame congress,Clinton, and W .

"what did force them into making real stupid loans?"

Greed.

"Did they know we would bail their asses out of that jamb?"

If they read the rules, yes.

"I know, lets be capitalists with the profit but be socialists with the debt. Is that your world?"

No, that's Bush's world. And Dick "deficits don't matter" Cheney's world. Where the fuck have you been?

Pretend all you want; that's what happened. Supply-side, trickle-down economics has shown itself to be an utter failure. But you'd vote for another four years of Bush if you could, wouldn't you?

SPREADING THE VIRUS
HOW ACORN & ITS DEM ALLIES BUILT THE MORTGAGE DISASTER

Pretend all you want; that's what happened. Supply-side, trickle-down economics has shown itself to be an utter failure. But you'd vote for another four years of Bush if you could, wouldn't you?

#52 | Posted by Danforth

Explain to me how"Demand-Side, Trickle-Up" economics works.

Government "PC" laws and practices have screwed our system up so bad that hope is fading. Bad lending practices only work when "Big Government" is there to cover your ass that is hanging out a mile. These poor practices have happened under both rep and dem leadership. It is a result of socialism, not capitalism.

Riiight Kerrin....never mind the fact that McClatchey newspapers reports that it wasn't those loans that created the crisis it was the housing bubble engineered by Greenspan....and McClatchey is far more reputable than that rag....owned by Rupert Murdoch for crying out loud.

"Government "PC" laws and practices have screwed our system up so bad that hope is fading."

And Sniper continues to ignore the facts and just posts the same tired talking point irrelevant nonsense.

"Explain to me how"Demand-Side, Trickle-Up" economics works."

Well, it doesn't end with Wall Street in the welfare line.

Tax breaks to the wealthiest may or may not find their way back into the economy. Tax breaks for the poorest will always find their way back in.

"Explain to me how"Demand-Side, Trickle-Up" economics works."

Two-thirds of our economy is consumer driven. Demand drives supply. All the supplies the world could ever need could be available but, if no one wanted to purchase them, they would just sit there.

And I don't even believe that the collapse was his fault. I'm just saying that by your "logic" it is.

#49 | Posted by Sully at 2008

good point sully but it wouldnt matter if I were to say anything of the sort here because leftists CANT AFFORD TO OFFER Any kind of good news to this

the economy is what has put obama in the lead with its DOWNTURN...........and all of you know it

in fact, this has been called the famous 'october surprise'

we could and I THINK that I have already said that in many ways like katrina and 9/11...........a MASSIVE fuckup of our government from all sides...........

and I am also in the middle of this as well

I still dont support the trillion dollar bailout BUT if the market is going to go through the roof again today.

well I might have to rethink that.........
BUT BUSH SHOULD GET SOME CREDIT even with a caveot or two..........

BUT HE WONT

"I still dont support the trillion dollar bailout BUT if the market is going to go through the roof again today."

Parallel: We're broke, but they just raised the credit limit on our Visa by $200, and that meal was fabulous...so, how bad can it be?

"the market is going to go through the roof again"

HAHAHAHAHAHAHAHAHAHAHA

9461.60 +73.99 (0.79%) Oct 14 12:57pm ET

"Tax breaks for the poorest will always find their way back in."

News Flash for Dan!

The "poorest" aren't paying any taxes! I know you're a member of that "unfortunate" demographic group, being a strugglin' actor and all, but don't try to tell us you're paying taxes and want to see them increased.

"News Flash for Dan! The "poorest" aren't paying any taxes!"

News Flash for the old man:

Income taxes aren't the only kind of taxes. I know you're struggling with the Alzheimers, but try to keep up. The poor pay sales taxes, gasoline taxes, property taxes (directly or indirectly), excise taxes, utility taxes, and payroll taxes, among others.

And my tax bill for 2007 was over $15,000. What was yours?

"And my tax bill for 2007 was over $15,000. What was yours?"

Awww, Dan...you have confused your tax bill with your "earned income credit"...LOL.

"The poor pay sales taxes, gasoline taxes, property taxes (directly or indirectly), excise taxes, utility taxes, and payroll taxes, among others."

If the "poor" are paying all those taxes, they ain't "poor" to begin with.

"If the "poor" are paying all those taxes, they ain't "poor" to begin with. "

Laughably naive. As if the poor don't drive, work, rent, or purchase anything. Time to check your Alzheimer's meds, old man. You've reduced yourself to doddering.

"The poor pay sales taxes, gasoline taxes, property taxes (directly or indirectly), excise taxes, utility taxes, and payroll taxes, among others."

If the "poor" are paying all those taxes, they ain't "poor" to begin with.

That's true. They're dead.

Danforth,

I'd be all for "spreading the wealth around" via government rote if it actually worked.

How much money has our government thrown at the poor since "The Great Society" was launched and how much has the poverty rate moved as a result?

"How much money has our government thrown at the poor since "The Great Society" was launched and how much has the poverty rate moved as a result?"

Prove it would have been better without.

Prove it would have been better without.

Prove?

Impossible.

It's purely speculative.

I can go into great detail the catastrophic destruction that welfare has wrought in terms of making dependency pathological and how it absolutely ravaged the traditional family unit, which has it's own set of adverse problems.

Danforth,

The program was billed as a savior to society.

Not one of the promises offered even remotely panned out. Doesn't that bother you?

How much money has our government thrown at the poor since "The Great Society" was launched and how much has the poverty rate moved as a result?

#67 | Posted by Jeff

Its come down from about 19% to about 12%. Not great, but certainly significant.

"Not one of the promises offered even remotely panned out."

How do you know it wouldn't have been worse without it? You're assuming everything.

"Doesn't that bother you?"

Methinks Wall Street ends up with more welfare than Main Street.

"Its come down from about 19% to about 12%. Not great, but certainly significant."

A reduction of 35%?!? What a rousing success!

"As if the poor don't drive, work, rent, or purchase anything. Time to check your Alzheimer's meds, old man. You've reduced yourself to doddering."

Some DO work, Dan...I know a lot of them! They may work under the table (no payroll, income tax etc.,) while drawing unemployment and/or welfare. They pay a month's rent up front and live rent free for six months while the lessor is going through eviction procedures or they live in Section 8 housing. But...they DO drive, Dan, so they pay that gasoline tax. Poor things....
Don't worry Dan, if you live as long as I have (no Alzheimers,) you'll be wiser too. I hope your young budding "acting" career doesn't go to your head . Remember, you're not really Dr. Dolittle, you're just PRETENDING to be someone you ain't...LOL.

You are just wrong, Jeff.

We knew that 20+ years ago.

Poor people don't pay taxes.

Yes. They somehow make purchases using a secret society that gets around the sales tax. (Wish I could get in on that scam!)

They also have social security accounts that they pay into, but somehow manage to avoid all the other parts of the payroll tax. (Aint they clever?)

They drive cars, without paying license fees! I guess they all most know that same guy at the dmv(shhh. It's a secret.)

And finally the poor have found an ingenious way to AVOID DYING! (Fuckers won't let me in on that secret either!)

"I hope your young budding "acting" career doesn't go to your head"

I doubt it will. If they tore up my credits the first time I qualified for a pension, or the second time, or the third, I'd still have qualified.

"(no Alzheimers)"

Dream on. Alzheimers causes dodderers to forget the meanings of simple words, like "budding" or "struggling". Time to check your meds, old man.

, "from 1963 when Lyndon Johnson took office until 1970 as the impact of his Great Society programs were felt, the portion of Americans living below the poverty line dropped from 22.2 percent to 12.6 percent,

"They may work under the table (no payroll, income tax etc.,) while drawing unemployment and/or welfare."

Why don't you turn them in? Or are they counting on your complacency?

"from 22.2 percent to 12.6 percent"

Over a 40% reduction?!? What a resounding success!

"Alzheimers causes dodderers to forget the meanings of simple words, like "budding" or "struggling". Time to check your meds, old man."

I DO know the meaning, Danny, ( I don't do any meds) and I know you want to project yourself as a successful Harrison Ford, Tom Cruise or someone and that's the great thing about being an actor and posting on the DR. You can be anyone you want. Who do you wanna be?
However, it's difficult to believe that a successful actor, such as YOU are trying to portray here, would be spending so much time posting leftist-socialist propaganda here on the DR all day.
It's OK, I understand. But take heart, I'm sure you'll land a role in the next mega event that comes up. I'll miss you when you're on location too.

"I know you want to project yourself as a successful Harrison Ford, Tom Cruise "

Nonsense. I'm not a star, and never will be. I'm a work-a-day actor, like most of them. And unlike most of them, I've done about 150 Equity productions and seem to work all the time.

"it's difficult to believe"

I know you're mind is narrow and narrowing, but it's quite possible. I often post between entrances, as I did this morning during our creature feature (any matinee starting before noon). But since that's too complex for you to understand, it can't happen...right?

"I'll miss you when you're on location"

The internets reach locations too, old man.

"(I don't do any meds)"

Obviously, with your diminished capacity, it's time to start.

But it's so easy.

"What caused alot of problems was the increase in home values in excess of inflation, which began it's extraordinary ascent in the late 90's."

No it did not begin its extraordinary acent in the late nineties. It began when interest rates were dropped to 1% after 9-11. It began because people discovered they could buy bigger houses when their payments were made so low by those extremely low (and temporary) rates of interest. Prices to not fluctuate greatly without an impetus to make them fluctuate.
The attempts by the right to blame the crisis on the low income folks who got too large mortgages in spite of the FACT that it constitutes only a small percentage of the problem is due to the fact that they brought about this entire mess by allowing (encouraging) Greenspan and the Fed to hold rates low to make the economy appear to be growing even as they outsourced jobs and manufacturing to China and other places. In truth no growth occurred though statistics at the time made it appear that it did grow. Finally when the bubble burst all that growth evaporated leaving financial institutions holding mortgages on properties worth thousands less than the principal owed.
That is the truth, the rest is just spin to try and prevent the appropriate blame from falling where it should.

#31 | Posted by danni

You are totally wrong, some "facts" there dudette.

I challenge you to prove me wrong, oh and btw I have PROOF I am right. Wanna challenge me show us proof. Or "truth" as you call it

fucking idiots wont admit rescinding the Glass Steagall act of 1932 was the cause of the bubble and implosion.. it was also to blame for enron..