Tag Federal government of the United States

FG Was the Culprit in Housing &; Economic Crisis: Congressional Report

Allen Frederick 2 Comments

We’ve known this for months. In the later half of the Bush Administration there were serious attempts to *fix* this but the likes of Frank, Dodd, Kerry, etc….kept it going. Government in banking?? what would Alexander Hamilton have said? or M. Friedman?
clipped from www.cnsnews.com
Federal Government Was Culprit in Housing and Economic Crisis, Says Congressional Report

Fannie Mae and Freddie Mac were the chief culprits in the housing crisis because they encouraged people who could not afford payments to borrow money, according to a congressional report released Tuesday

The claims in the report have long been advanced by conservatives, who argue that the Community Reinvestment Act and other federal programs fed the housing bubble that burst in 2007 and led to the economic downfall in 2008.
“In the short run, this government intervention was successful in its stated goal – raising the national homeownership rate,”
“However, the ultimate effect was to create a mortgage tsunami that wrought devastation on the American people and economy,”
the well-intentioned goal that everyone have a home even if they can’t afford it,”
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Something Scary This Way Comes

Allen Frederick Leave a comment

On the weeks leading up to Halloween something evil has been unearthed. Hidden away for 7 years it finally came to light here on the week before the election. This is enough to make your skin crawl.

The above commentary was intended tongue in cheek for all those liberals out there who lack a sense of humor.

clipped from www.onenewsnow.com
Listen to an audio interview Obama gave in 2001 with Chicago Public Radio WBEZ.FM. In this interview Obama discusses the best way to bring about a redistribution of wealth, how the Warren Supreme Court interpreted the law and the fact that�it wasn’t terribly radical.

During the discussion Obama says, “Generally the Constitution is a charter of negative liberties, says what the states can’t do to you, says what the federal government can’t do to you,but it doesn’t say what the federal government or the state government must do on your behalf . . . because the civil rights movement became so court-focused, I think that there was a tendency to lose track of the political and community organizing and activities on the ground that are able to put together the actual coalitions of power through which you bring about redistributive change.”
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