Drudge Retort: Red Meat for Yellow Dogs
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This has nothing to do with 'Wall Street greed' since our own Congress were the promoters of this disaster.

I disagree. This has to do with Wall Street greed. And lender greed. And borrower greed. And real estate agent greed. And politicians greedy for the votes of the disenfranchised. And our own greed.

It became commonly accepted beginning in the mid-1970's that home ownership is a right, not an earned privilege. By 1998, the Clinton adminstration, with the noblest aim, compelled Fannie Mae and Freddie Mac to write loans to people (of all colors) who up until then would typically have been denied mortgages based on the simple fact that they likely could not afford to pay the loans off on a persistent basis.

Over this same period of time -- from the early 1980's to present -- mortgages once writtenand held in the local hometown banks, were now being bundled and sold in complex hard-to-rate packages that got tradd and sold between institutions, to the point where nobody really had a a handle on how rotten the core of some of the packages were -- even though they should have, they didn't. Deregulation of the industry almost guaranteed that no one would ever be forced to check.

By the early 2000's, greedy lenders (some banks, many mortgage companies) and greedy real estate brokers pushed people, who had no idea what they were signing, to take loans they could not afford to ever pay back in full. People who should have known what they were signing, but were either too stupid or too blinded by their own greed.

Enter scam artists (a great number of them illegal immigrants who took the mortgage money and simply returned home with it) who themselves took loans with no intent of ever paying the oney back.

Everyone involved on the lnding side knew there was a chance that ome of the rotten apple loans in the packaged instrument would end up going bad. What nobody realized was that one bad apple does spoil the whole bunch, and in the end the domino effect created was uncontrollable.

Even our own greed fed this: As unqualified buyers were cajoled into (or lied their way into) buying houses, demand went up, and my house's value went up, and I was happy. And I did nothing to compell by rep or senator or anyone else to address what was known to be a bubble about to burst.

Democrats and Republicans both dropped the ball on this issue. Anyone who says it was one or the other is a disingenuous shill.

The linked article is a "progressive" view (by its own admission), which leans heavily toward blaming deregulation and lender greed (the anti-Repub view) but fails to mention the borrower greed and effect of the 1998 action. It is a biased article due to its incompleteness and what one can only assume is an unstated agenda.

I disagree. The reason Palin has dropped so far so fast in polls is because of the vetting she's gotten, a lot of which came from harsh scrutiny on blogs. It would have been far worse for Democrats to give her a pass out of fear there might be pushback.

I agree with you, RCade, that the vetting process has resulted in her drop from the heady highs of the first few days after she was announced, and I cannot imagine what benefit would have resulted frmo giving her a pass. But beyond the vetting process, there can be a point where the barrage of negativity can result in a reaction to off-topic personal attacks or off-color remarks aimed at her. In much the same way Obama can benefit when someone says something very stupidly racist or off-color about his family or his demographic situation, and that pushes some people to redouble their efforts to support him. It is not the vetting process that pushes things across the line I mention; it is over-the-top attacks.

If you say Sarah Palin broke ground on a $15 million dollar hockey rink on land the town had not yet fully purchased, costing the town thousands of dollars in fines and lawsuits, and in the next breath tell me her husband may have impregnated the teen daughter, then your point about the hockey rink, though valid and relevant, gets tossed with the bathwater of the second argument. I have heard people whose opinions I trust and respect (and these are very moderate middle-of-the-roaders) say "She's getting ganged up on". Even if not wholly true, the perception is there.

The more Palin is trashed this way, the more positive attention she gets...

Rob, I don't always agree with you, but I think you're right here. There is a fine line that has to be walked before Palin gets cast as a victim or underdog. If the media or Obama supporters or whoever keeps pushing too hard, they will end up making her someone who people feel sorry about, and Americans' will always support those. if that happens, there is little tie for anyone to correct it before the election.

Read Matt Taibbi's article in this week's Rolling Stone, in which he catalogs all the things that are bad about Sarah Palin, most true and some exaggerated. Unlike Taibbi's previous articles, this one had virtually no humor in it, and that made it come across as mostly mean-spirited and just a bunch of tired previously-vetted talking points that he could embellish with a bunch of "fucks" because he has the luxury of working for a magazine that has an editorial policy that allows it. It ended up reading more like a screed from a rabid Obama supporter, rather than a balanced political analysis like he normally does. In addition, he basically says in at least 3 or 4 places that only fat stupid trailer trash votes Repub, a simplistic stand that he has never taken; it seems like Palin has made even the most honestly introspective Dems start to unravel for whatever reason. (In defense, he does defer for one or two paragraph to the fact that Obama and Palin have some things in common in terms of media treatment, but only as an afterthought).

I know an article like Taibbi's may convince some to vote against any ticket that she is on, but it can just as easily make some people vote for her in some weird kind of reaction that I think is unique to the US. If that tipping point is reached, the Dems risk losing in November.

An article about Obama that does not talk about Muslims or cocaine:

online.wsj.com

Despite the fact that it may not jibe with the viewpoints of many on here, it is worth reading.

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