Before You Vote....Look and Learn - BMW Luxury Touring Community
 
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post #1 of 7 Old Nov 3rd, 2008, 6:17 pm Thread Starter
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Before You Vote....Look and Learn

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post #2 of 7 Old Nov 3rd, 2008, 6:42 pm
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Re: Before You Vote....Look and Learn

This one is more accurate



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post #3 of 7 Old Nov 3rd, 2008, 7:29 pm
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Re: Before You Vote....Look and Learn

Greed caused it. Greed of the bankers making more commissions, the mortgage brokers making more filing fees, the investors striving for higher profits, the politicians grabbing bigger bribes, and the home buyers pushing for more that they could afford. All without any care for the reality of the situation as long as they got theirs. Until it all fell apart.

This isn't a partisan problem, it's an American greed problem. And that pretty much covers everybody involved. Seems pretty simple to me.

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post #4 of 7 Old Nov 4th, 2008, 11:24 am Thread Starter
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Re: Before You Vote....Look and Learn

Quote:
Originally Posted by meese
Greed caused it. Greed of the bankers making more commissions, the mortgage brokers making more filing fees, the investors striving for higher profits, the politicians grabbing bigger bribes, and the home buyers pushing for more that they could afford. All without any care for the reality of the situation as long as they got theirs. Until it all fell apart.

This isn't a partisan problem, it's an American greed problem. And that pretty much covers everybody involved. Seems pretty simple to me.

The Carter Administration planted the seed and the Clinton Administration fertilized the hell out of it. These two administrations (particularly the latter) are virtually 100% to blame for the financial mess that exists today. Especially in light of a federal mandate, would a reasonable person really expect an opportunistic individual/bank/corporation to not grab the carrot dangling in front of her/him?

Not every individual has the "right" to home ownership; only those that can truly afford 30 years of mortgage payments should own houses. Clinton was, as usual, pandering for the vote of the disenfranchised and the downtrodden by offering the carrot of "the American Dream"; what a crock of BS. He cared nothing about the consequences; re-election was his only concern. The sad part is the stupidity and gullibility of the populus to buy into the idea that someone making $50,000/year could afford a $500,000 house, and the asinine assumption by the government that only qualified individuals would seek home ownership, and that they would be honest and forthcoming about their income, debts, etc. during the loan application/qualification process (oh wait.....I forgot, EVERYBODY qualified!). Just reaffirms the ignorance and deceit of a part of the population/workforce and the insulation from the real world our politicians enjoy.
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post #5 of 7 Old Nov 4th, 2008, 12:30 pm
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Re: Before You Vote....Look and Learn

It amazes me how after eight years the right wing still tries to blame Clinton for every problem that arises. Perhaps you should try fact check.org once in a while. The Clinton Administration tried to open up home ownership for the poor, but the requirements minimized the number of loans and most were subsidized by the government. The major cause of the financial meltdown was lack of government oversight over major lending institutions.

With the housing boom and rising prices, lending institutions, real estate companies and greedy yuppies sought to purchase property and make a fortune when the value rose. When the bubble burst and property prices dropped, they lost their asses. The problem was that the Republican Congress and Bush Administration refused to monitor or control rampant greed and speculation in the financial market.
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post #6 of 7 Old Nov 4th, 2008, 3:18 pm
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Re: Before You Vote....Look and Learn

Quote:
Originally Posted by walkingdude
The problem was that the Republican Congress and Bush Administration refused to monitor or control rampant greed and speculation in the financial market.
You were doing well right up to this point.

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post #7 of 7 Old Nov 4th, 2008, 10:56 pm
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Re: Before You Vote....Look and Learn

Quote:
Originally Posted by meese
....This isn't a partisan problem, it's an American greed problem. And that pretty much covers everybody involved. Seems pretty simple to me.
Ken, would you stop stealing my analysis, please?
Quote:
Originally Posted by DakotaDude
The Carter Administration planted the seed and the Clinton Administration fertilized the hell out of it. These two administrations (particularly the latter) are virtually 100% to blame for the financial mess that exists today....
The blame stretches across many administrations--including "The EVIL W's" for not properly monitoring the "greed" button.

"Those who would give up essential liberty to purchase a little temporary safety, deserve neither liberty nor safety." (Some really OLD friggin' White dude who couldn't have possibly known what he was talking about!) WARNING: Official HATE speech!
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