Remember Bush's Ownership Society?

[adjwilli]

Check out this link: http://www.whitehouse.gov/news/releases/2004/08/20040809-9.html

"Expanding Homeownership. The President believes that homeownership is the cornerstone of America's vibrant communities and benefits individual families by building stability and long-term financial security. In June 2002, President Bush issued America's Homeownership Challenge to the real estate and mortgage finance industries to encourage them to join the effort to close the gap that exists between the homeownership rates of minorities and non-minorities. The President also announced the goal of increasing the number of minority homeowners by at least 5.5 million families before the end of the decade. Under his leadership, the overall U.S. homeownership rate in the second quarter of 2004 was at an all time high of 69.2 percent. Minority homeownership set a new record of 51 percent in the second quarter, up 0.2 percentage point from the first quarter and up 2.1 percentage points from a year ago."

Is it even possible to deny that the economic crisis right now wasn't planned and created by Republican allied bankers?

[Muttocracy]

1. guess they didn't say people could KEEP the houses. nt

[hobbit709]

2. When idiot in chief says something, the meaning is 180° opposite.

[Bucky]

3. Ah yes, an insideous Republican plot to ruin the economy under a Republican president

Will those bastards stop at nothing?

[Beausoleil]

9. At least that would be the first thing they've done that went according to plan.

n/t

[baldguy]

4. The "Ownership Society" means "you will be OWNED!"

It's another euphemism for slavery.

[Giant Robot]

6. Please report to your owner at 7am tomorrow

For yard work.

[adjwilli]

5. It's like crack in 80's

The "ownership society" was like when Reagan's CIA sold crack in the ghettos, but this time it's legal.

[TomInTib]

7. I recall the news being all over Minority Homeownership...

All these people telling about how they had never owned anything in their lives, but had flipped three or four houses in the last while.

Everybody was gonna be as rich as Warren Buffett.

And I remember thinking, "Just wait for the Deluge, dumbass".

[Warpy]

8. It's unintended consequences, not conspiracy

After all, the idea of junking a lot of the regulations that business found onerous and reducing their costs while streamlining everything would certainly be advantageous. What they failed to foresee, what they always fail to foresee, is that deregulation just lets the thieves in to set up legal shop.

Now a lot of the world's wealth is represented by things that have absolutely no intrinsic value, paper assets that exist nowhere but on paper, most of the thieves who created them long since having retired in style.

They're just trying to paste the system together long enough for quarterly write downs to sneak the loss of assets past shareholders and the general public, alike.

That pundits have mentioned the "D" word is very telling. We're astonishingly close to another one and it has the same cause as the first: well meaning but utterly wrongheaded GOP economic dogma put into practice.