[Dragaera] Current Financial Mess

[Maximilian Wilson]

On Sun, Oct 5, 2008 at 12:20 PM, Jim Katz <jimkatz at ix.netcom.com> wrote:
> I'll see your vdare article and raise you Snopes:
>
> http://www.snopes.com/politics/business/easescredit.asp

Summary of Snopes: "Yes, newspapers warned about dangers of
Fannie/Freddy's easy credit as early as 1999." I don't dispute that. I
was merely pointing out that Bush was also involved in loosening
credit restrictions to eliminate down payments, ensuring that if the
housing bubble popped the backlash would be worse because more people
would have an incentive to walk away from their mortgages.

Progressives hate Bush even though in many ways his agenda was a
liberal one (nation-building, easy credit, entitlement programs). Thus
we see that American politics is as much about tribal dominance as
substance.

-Max

-- 
"The presentation or 'gift' of the Holy Ghost simply confers upon a
man the right to receive at any time, when he is worthy of it and
desires it, the power and light of truth of the Holy Ghost, although
he may often be left to his own spirit and judgment." --Joseph F.
Smith (manual, p. 69)

Be pretty if you are,
Be witty if you can,
But be cheerful if it kills you.