Say Anything Blog

[Shaking head].....

Bushco was touting the ownership society.

Because the federal government was requiring that some lenders make loans to people who couldn’t afford them.

These practices were mandated by Congress. Loans to people by any past objective standards should have been refused financing.

Then, there were speculators, who bought houses with the intent of watching the value increase astronomically while they never intended to live in those places. They would simply make mortgage payments on their residences and the speculated parcel and hope that they could see that 20 percent increase every year.

Both schemes failed. People who could not qualify for a loan or who had a bad credit history should have been refused financing. Pure speculators, who bought excess property that did not increase in value: too bad. Neither should be reward for bad decisions with our tax money.
Back at the campfire:

Meanwhile, some in this country still want to put these same short-sighted, dim-witted bureaucrats in charge of a nationalized health care system.

Let us all, just stick our heads up our ass and let this proceed.

During the Reagan/Bush years we had tax cuts, increased government size, huge budget deficits, humongous increases in the national debt, tax increases, deregulation of the financial system, and the result of all that was the crash/looting of the Savings and Loan financial institutions and subsequent bailout by the taxpayer.

During the Bush/Cheney years we had tax cuts, increased government size, huge budget deficits, humongous increases in the national debt, deregulation of the financial system, and the result of all that was the crash of the housing market, the huge losses of the financial institutions and subsequent bailout by the taxpayer.