Heads up heres republicons on the cause of the economy melt down

[mrcheerful]

Social Security said that 5 million, that's 5,000,000, illegal aliens bought homes, using Fannie / Freddie loans, also using false Social Security Numbers.

Again, it comes down to mortage companies being pressured into making these almost certainly unpayable loans to minorities, add to the equation the stupidity of the borrowers for even accepting the loans, knowing they couldn't afford them.

All brought to you by agencies like acorn and your community organizer types, pressuring lending organizations to make these illogical loans just so minorities could own a home, even it it was for only a fleetingly, short time.

I too would like to know, when will we say enough is enough? This is not a Democrat or Republican problem, there is plenty of blame to go around.

If you are not outraged and calling or E-mailing your representitives, you can't bitch.

[Winterblues]

You left out Clinton...EVERYONE knows he is responsible for everything bad..

They had their decade to prove their economic theories. And Prove them they did.....

[hobbit709]

1. What a load of bovine metabolic byproducts.

[sinkingfeeling]

2. Right there were just so many minorites buying up new houses in Las Vegas and Riverside, CA. Two of

the hardest hit areas with foreclosures. Las Vegas is like 89% white and Riverside is like 93%.

[PaulaFarrell]

3. nobody was pressuring mortgage companies into making loans to illegal aliens

if the mortgage company didn't properly vet the mortgage, blame them, not 'community organizers' (hmm, that phrase seems familiar, can't quite place it...).

and you're saying 1 out of 60 people in the US is an illagreal alien with a mortgage - don't buy it, sorry...

[orwell]

4. The same old racist Republican crap...

...Total defaults on subprime loans are in the 500,000 range. CRA loans run at lower rates of loan loss than normal subprime as they faced higher regulatory scrutiny.

Doesn't anyone care about facts anymore, or are we far too interested in a political agenda to care about them?

The economic meltdown is the inevitable result of too much debt, both public and private. The good times balloon is popping, as it always has in the inglorious history of fiat money. The laws of financial gravity have still not been repealed.

Same as it ever was...

[LSK]

5. Ownership Society

Was a Bush admin initiative to get minorities into homes in 2003-2004.