This IS NOT the result of too little regulation or oversight, it’s the direct result of too much govt trying to control the marketplace. We got to where we are because people/govt thought they could defy economic laws and human nature and do “good” by intervening in the economy for a “noble goal”. But… as always, there is reality to intrude…The govt and the liberal media is working so hard to make this look like it was the greedy businessman again who is screwing us So they waved their govt magic wands and issued the “Community Reinvestment Act” which in reality forced the lenders to lower their lending standards to issue the loans to people that were not qualified under the original system. Success… the poor were buying homes, well beyond their ability to pay for. The sudden increase in demand increased prices. People started using their homes as ATM’s taking out the ever increasing equity. Speculators jumped in, flipping homes, further increasing demand and prices. The lowering of standards didn’t only apply to the poor and minorities, everyone from all income groups started taking out stupid loans beyond their ability to repay and the Fed’s easy money policy kept the party going AND then reality set in and the poor with no money down loans and no equity started missing payments and the foreclosures started. More and more, and suddenly demand dropped as more and more distressed properties hit the market. Prices plummeted. More and more people were under water in their loans and walked away, more empty houses and prices continued to fall. The bubble created by the Community Reinvestment Act burst and the Ponzi Pyramid scheme collapsed. Suddenly the lenders were stuck with defaulted loans on properties no longer worth the price of the loan. The blame for this debacle falls squarely on the Federal Government and the Community Reinvestment Act. Will they admit it? Nope. Instead they blame “businessmen” and demand more and more power to screw up the economy. For those of us us that did manage our finances responsibly, and have invested in our retirement, we’re the ones that will pay this price with falling property values and falling retirement investments, and the irresponsible? We’ll bail them out. The final result is more income redistribution. The socialist do-gooders you elected will sit back and the end of the day and pat themselves on the back, their income redistribution goals were realized. To Each Its Own - Don’t just sit there…do something !
You are nucking futs. A 3% hike in the top marginal rate (assuming you make enough money to even pay it) is tantamount to slavery? You need to go back and read your history books so that you can figure out what slavery was all about. Again, go back and figure out what "Taxation without representation" actually means. You have representation, they are your Representative and Senators.
every good point you make is negated everytime you liken yourself to a "slave" or "sacrificial animal" or when you hysterically misuse thomas paine to support your idealogy. but imagine that, a so-called "conservative" overvaluing their place in society while proudly remaining ignorant on the things they're so passionate about.
Too much wasted effort to explain it to this character, but this post is the poster-child for ignorance - pretty much every single sentence of this post can be proven to be erroneous with documentary evidence - I mean the fact that anybody can dismiss the greatest regulatory failure of the last 100 years as the product of "NOT the result of too little regulation" shows how completely programmed these robots are. It is saddening and sickening to see how the Republican party machine and its echo chamber can build these fables (this one being "it was the blacks and fannie and freddie who caused it all!"), and have fabulists believe and repeat them like this. Sad. And sick. Also though very illuminating. They grab onto one piece of out of context info (CRA, in this case) and repeat a myth forever and ever until it becomes true in their closed minds. Textbook in a way. But still sad and sick.
Hey man, if the Democrats wanted to fight against the fables, you do know Al Gore invented the internet, at least he said so, so they should be able to control the flow of info.
http://www.google.com/url?sa=t&source=web&ct=res&cd=3&url=http%3A%2F%2Fen.wikipedia.org%2Fwiki%2FAl_Gore&ei=VoXsSZiVGZK-MvaE7cwF&usg=AFQjCNFQgqjQCcygchgcZvuz_H2EQxrsBg
I'm not sure there is one politician on the federal level that is representative of my views or act with the kind of morality I hope for. I don't trust any of them.
I was being sarcastic. I know Gore never said that he invented the internet and was a big suppporter, I was backing up the point that the right wing just repeats things that are proven to be false.
And it just kept getting worse with the democrats in control of Congress, and now that they control both sides. I wonder if either party will decide to stop the bleeding. Maybe if we go back to a Republican congress with a Democrat as President. Assuming Republicans still exist in Congress.
You may not trust them, but they do represent you and you have the ability to affect who represents you, thus the phrase "taxation without representation" is entirely inaccurate.
