"This is catnip to Republicans, arsenic to Dems."

came within inches of smashing the US economy
and America is still in denial! The great western economic engine is dead. Let's move along now, before we're sucked into their vortex of stupidity please.

A good many Republicans were in on it too.

Really Mark, name some.

A bet against America is always a losing bet.

This would be devastating to the Dems if the GOP had the cojones to run with it. The gutless RINO branch will probably kill it.

High and low corruption on a huge scale must have greased the skids every step of the way, otherwise nothing makes sense.
Trillions of "rescue" dollars in government backstopped credit is repeatedly sent out. To whom? To do what? Where is the effect?

Like Henry J Kaiser said of his post WW2 car making venture: "I realized we would be spending at least several hundred million
dollars before success or failure was certain, but either way, I thought it would make a bigger splash".

The left pads their own pockets while simultaneously destroying the country.

They forced banks to make sub-prime loans to minorities that couldn’t afford them. (Obamba & Acorn) sued City Bank and others in Federal court to make it so.

They keep the southern border wide open to an influx of third world crime, drugs, diseases and mass illiterate labour. They have allowed sanctuary cities for these illegal aliens most of which are now bankrupt or nearing bankruptcy. All of which is clear and violent attack on the American economy and society as a whole.

A nice list of all former board members of Fannie and Freddie, sorted by "total bonuses accrued" might be informative.

Must have missed something.

All along, we've been told it's Bush's fault.

That's much easier than the explanation of what really happened.

Yep, and Ann Coulter's new book also explains a lot about this liberal mob mentality of imposing their will on the populace:

http://townhall.com/tipsheet/townhallcomstaff/2011/04/29/ann_coulter_mob_mentality_is_ruining_america

A good many Republicans were in on it too.
Posted by: Mark at June 8, 2011 11:27 AM
---------------------------
Really Mark, name some.
Posted by: Brian Mallard at June 8, 2011 11:44 AM
-----------------------

!!!!George W. Bush was in on it up to his neck!!!!

"But the Housing Bubble didn’t get supersized until after George W. Bush’s October 15, 2002 “White House Conference on Increasing Minority Homeownership”. There, the Republican President recklessly denounced down-payments as the foremost hurdle to closing the racial gap in homeownership."

http://vdare.com/sailer/110605_reckless_endangerment.htm

Its hard to even read the news from the States anymore . The disater of the Obamites have rendered, with its attendant coruption is minf bunbing. In 2 years they have destroyed the bastion of World hope for a better life for self serving Billionairs that cannot abide real competition. Madofs the lot of them. Its still continues none stop. From a carp to milk.
The Czars of evil intentions.
JMO

On top of that Obama will be remembered as a president, who gave Iran a nuclear bomb.

Why is my life supposed to depend on the lunacy of idiots with Marxist agenda? Why am I not allowed to take control of my life in my own hands?

Revnant-

Have you never met the Chicago School of Politics?

The City's Motto is "Where's Mine?".

If you want to open a business, you had best be sure that your alderman has been pre-donated to before your license application has been pulled. It might get lost.

Oh, you need a phone? Apply for a permit, which might get lost, unless another check is cut. A fax line? That better be cash, you're getting pretty demanding. Cleaning service? Oh, here's a list of "qualified" cleaners, don't mind the mess.

And so on...

Live here, and you'll get the picture in a hurry.

Cheecaga...home of alinsky...nuff said

An article in City Journal from the year 2000 provides some remarkably prescient insight into the
changes that were taking shape.

A radical group called ACORN Housing has a $760 million commitment from the Bank of New York; the Boston-based Neighborhood Assistance Corporation of America has a $3-billion agreement with the Bank of America; a coalition of groups headed by New Jersey Citizen Action has a five-year, $13-billion agreement with First Union Corporation. Similar deals operate in almost every major U.S. city. Observes Tom Callahan, executive director of the Massachusetts Affordable Housing Alliance, which has $220 million in bank mortgage money to parcel out, “CRA is the backbone of everything we do.”
… With “delegated underwriting authority” from the banks, NACA itself—not the banks— determines whether a mortgage applicant is qualified, and it closes sales right in its own offices. It expects to close 5,000 mortgages next year, earning a $2,000 origination fee on each. Its annual budget exceeds $10 million.
… While most CRA-supported borrowers would doubtless find loans in today's competitive mortgage industry, a small percentage would not, and NACA welcomes such buyers with open arms. “Our job,” says [NACA Chief Executive Bruce] Marks, “is to push the envelope.” Accordingly, he gladly lends to people with less than $3,000 in savings, or with checkered credit histories or significant debt. Many of his borrowers are single-parent heads of household. Such borrowers are, Marks believes, fundamentally oppressed and at permanent disadvantage, and therefore society must adjust its rules for them. Hence, NACA's most crucial policy decision: it requires no down payments whatsoever from its borrowers. A down-payment requirement, based on concern as to whether a borrower can make payments, is—when applied to low-income minority buyers—“patronizing and almost racist,” Marks says. This policy—“America's best mortgage program for working people,” NACA calls it—is an experiment with extraordinarily high risks. There is no surer way to destabilize a neighborhood than for its new generation of home buyers to lack the means to pay their mortgages—which is likely to be the case for a significant percentage of those granted a no-down-payment mortgage based on their low-income classification rather than their good credit history.
(Husock 2000)

BTW, Bruce Marks is/was a union organizer, Democratic bag man and a good friend of Barney Frank's. George Bush may have given a dumb speech about some minor programs that encouraged low/no down payment mortgages in 2002 but to hold him completely responsible for something that was in full bloom two years before the speech is misleading. This whole mess should be pinned on the Democrats. They created it through the CRA, grew through manipulations at Fannie and Freddie and profited in it with their friends at Wall Street investment banks.

I love it when Nancy Pelosi & Democrats use those meaningless words "It could have been Worse"
I have this vision of Charlie Manson pleading for parole!!!!

We Know that Nancy!,,,Now tell us what you didn't steal.

I wish it could be said that one side (democrats) are evil and the other side (republicans) are virtuous. Unfortunately it has come down to choosing the lesser of two evils. There is enough corruption on both sides to sink the country and it would seem that that is what the average American wants. After all if the average American wanted something different the average American would make it happen. However the average American is happy to be bribed with his own money, paralyzed by political correctness and stupefied by nonsense spewed by the MSM.

Melinda Romanoff

I want to see the old bold America back.