This thread was posted by Free Republic's founder and lead idiot, Jim Robinson.
http://www.freerepublic.com/focus/f-news/2084647/postsWho's to blame for the mortgage boom to bust and resulting financial meltdown?
vanity | 9/17./2008 | Jim Robinson
Posted on Wednesday, September 17, 2008 2:42:39 PM by Jim Robinson
So, the way I understand it, Jimmy Carter implements a plan further corrupting a Roosevelt New Deal socialist federal mortgage insurance program to help the poor disadvantaged uncreditworthy inner city minorities in blighted neighborhoods get taxpayer insured mortgages to purchase the American Dream on easy credit.
And Bill Clinton later puts that program on steroids where the disadvantaged uncreditworthy minorities don't even need to come up with a down payment or provide adequate evidence of being able to make the payments.
Then big time greedy Democrat Clintonites get themselves established in top management positions within the socialist created quasi-government magic money machines, further corrupting and expanding said risky socialist mortgage backing scheme, and now accounting fraud & corruption runs rampant while the Democrat congressional overseers look the other way.
And when President Bush and Republican Senators, including Senator McCain, raise the alarm and propose plans to reform said corrupt socialist agencies, the Democrats shoot them down.
Eventually, the disadvantaged uncreditworthy no money down buy the American Dream on easy credit debtors default on the loans they couldn't afford in large numbers causing the housing market to crash, the easy mortgage companies to fail, the banks holding worthless notes to fail, the greedy brokers to fail and the giant insurance companies backing the whole mess crumble.
And now after the inevitable collapse occurs, the Democrats scurry like the rats they are while blaming everyone but themselves. And Senator Reid today says they will do nothing because no one knows what to do. And Senator Barak Hussein Obama chimes in with we can't fix the problem while steering the same direction. NSS!
How about investigating and prosecuting the corrupt managers, senators and congressmen involved? Could it be because they're Democrats?
Well, where the hell were they when Bush and McCain wanted to shine a light on the growing problem and reform the agencies while there was still a chance? Where was the great community organizer? Hmmmmmmmm?
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No mention at all that the executive branch regulates these industries and Bush could have made changes at any time if he wasn't so hot to be the president who was leading us into the "Ownership Society". No mention of the GOP's monopoly on all branches of the government for the majority of Bush's time in office.
No, all Democrat's fault. I don't know why we even need to win elections. According to the right wing nuts, Democrats control everything at all times regardless of who is in power.