The media are blaming Bush for the housing mess.
The real culprits are:
1) Jimmy Carter and his 1977 Democratic Congress
(who crafted the 1977 Community Reinvestment Act, just another name for Socialist Housing).
2) Bill Clinton and his 1993 Democratic Congress, who REALLY screwed the pooch!
Both Administrations pressed a Socialist Housing Agenda based on demonstrably
false assertions of racial discrimination in mortgage lending (aka “redlining”).
This 1996 study concludes:
“most, if not all, statistical evidence of racial redlining based on aggregate loan data is at best inconclusive, and more likely, misleading.”The DISASTROUS results of yet ANOTHER race based Democrat “feel good” program are summarized in the following link (and more fully described in the associated IBD Editorial).
As always, the very people the Dems purported to help have been harmed the most. Yet, our utterly dishonest media, as always, blame the “fat cats” and let the Dems skip free.
Click the image & read the rest:
Click here to read the primary post on this topic
(and all the rest).
2 comments:
Maybe these programs would have worked out just great if the REPUBLICANS hadn't DEREGULATED them. Programs like these need to be regulated to keep GREEDY REPUBLICANS from taking advantage of the opportunities to make tons of money off of them. How many CEO got a multi-million dollar bonus last year and are now crying for bailouts???
Anonymous,
Government intervention in the housing market is what CAUSED this mess. Yes, additional government intervention had a prayer of limiting the damage. However, the Dems made SURE that did not happen.
Why? Because Fannie Mae and Freddie Mac have long been a means for out of work DEMOCRATS to enrich themselves through corruption and Socialist tyranny.
Pull your head out of the sand! Stop blindly, ignorantly and naively regurgitating the empty Marxist Class Warfare rhetoric of the Left and learn the FACTS.
This problem STARTED with the usual government intervention designed to engineer a Socialist Utopian FANTASY. More government intervention to correct a problem CAUSED by government intervention is, at best, a temporary band-aid.
The ONLY long term solution is to ELIMINATE the original government intervention! In this case, what is needed is to ELIMINATE FDR’s department of Housing and Urban Development (aka HUD).
Similarly, Socialist intervention in the Healthcare arena (again, dating back to FDR) is what has screwed up our Healthcare system. MORE government intervention will ONLY make it WORSE!
Start here and read EVERYTHING!
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