Quote:
Originally Posted by pj67coll
Indeed. I suggeest checking out Niall Ferguson's interview on Youtube regardin his book/PBS series "The Ascent of Money". A brilliant historical overview of financial rise and fall. Plenty of blame to go around. And the dems stink just as bad as the reps. But you wont here that from the Obamanuts.
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You won't? I suspect some real dirt went down with connected guys in Fannie and Freddie. It is indeed a fact that some, perhaps many, diehard liberals live to dole out handfuls of free abundance to likely voters.
What I don't buy is that the entire mess can be laid at Fannie and Freddie's door(s). Bush was pushing getting people into homes they couldn't really afford way back when. He can be heard on audio talking about how 'all, ya'all first time home owners don't need no crappy starter home . . . NOOooo, we'll make it possible for you to buy a really nice home.' (approximate quote)
My take is that so much money was being poured into the RE market after the dot com bust that many people were looking for ways to get folks signing on some dotted line, somehow.
Ahh, here it is: (audio only)
http://www.youtube.com/watch?v=eW9viaJatpo
03-31-2009, 10:43 PM
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