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Friday, March 14, 2008

Bush Has New Plan To Help Booming Economy

WASHINGTON — After months of watching a growing credit crisis made worse by steadily eroding home prices, the Bush administration responded on Thursday with the outlines of a plan that officials emphasized is meant more to prevent future crises than to address the current one.

The plan, which relies primarily on state regulators and private industry to tighten their oversight of financial markets, calls on states to issue nationwide licensing standards for mortgage brokers.

The plan would also require lenders to make more complete disclosures about payment terms to home buyers. And it would curtail possible conflicts of interest at companies that assign levels of risk to packages of mortgages that are sold to investors.

Who is here from the government?

Comments

It’s understandable when conservatives criticize the President for acting like a Dem, but it’s hypocritical for you lefties to criticize him for imitating your spending excesses and interference with the private sector.


Leftie political philosophy, from a DU commenter:

It doesn’t matter if it’s true or not. RUMOR IS TRUTH. The modern laws of media hype and political warfare have a useful tenet: Repeat ANYTHING or raise false concern over ANYTHING and it is likely to be planted in the conscious/subconscious of many voters.

robert108 on March 14, 2008 at 07:46 am

You never were much of a sarcasm guy were ya, r-Gumby?

Hey! Plenty of good Ace of Spades stories to “borrow” from today. You should go there and check it out.


“If a conservative is still a republican after the last 13 years, he is blind to the fact that his party of choice has failed him utterly.” – Realitybasedbob

realitybasedbob on March 14, 2008 at 08:06 am

No sarcasm, just the truth, Master Baiter; you should try it sometime.


Leftie political philosophy, from a DU commenter:

It doesn’t matter if it’s true or not. RUMOR IS TRUTH. The modern laws of media hype and political warfare have a useful tenet: Repeat ANYTHING or raise false concern over ANYTHING and it is likely to be planted in the conscious/subconscious of many voters.

robert108 on March 14, 2008 at 08:20 am

When the economy tanks and your dollar is about as useful as toilet paper, remember it was the greedy Capitalist pigs who did this to you.

Good Bless America!!!!!!!!!!!!

watashiwa on March 14, 2008 at 11:03 pm

When the economy tanks and your dollar is about as useful as toilet paper, remember it was the greedy Capitalist pigs who did this to you.

“The greedy Capitalist pigs” have nowhere near the power of the lowliest government bureaucrat.

The “credit crisis” is a problem between people sign their names to obligations that they can’t hold and the lenders who took the chance on them. This is a problem of fools parted from their money on both sides, helped along in no small part by a government threatening them with more regulation.

Allow for the market to correct, get the government the hell out of the way, and we’ll all be just fine. It won’t be painless for the creditors and the debtees, but that’s the price of falling down. It hurts.

The extra builders who built all of this property are going to have to find something else to do. This is called creative destruction and it is what happens when the economy shuffles around. This is a good thing.

In the meantime, homes are cheap and plentiful in this country. That’s not a bad “crisis” to have.

Good Bless America!!!!!!!!!!!!

Good’s good.

likwidshoe on March 15, 2008 at 12:20 am

When the economy tanks and your dollar is about as useful as toilet paper, remember it was the greedy Capitalist pigs who did this to you.

Great thinking there Washihoota- Do you suppose the greedy capitalists’ money being devalued won’t BOTHER them a little, too? Lik has it exactly right- it’s simply a correction that has to periodically occur.

Good Ol Boy on March 15, 2008 at 06:45 am

Actually, it’s the govt, greedy for more tax money for its useless social programs, which is devaluing the dollar.


Leftie political philosophy, from a DU commenter:

It doesn’t matter if it’s true or not. RUMOR IS TRUTH. The modern laws of media hype and political warfare have a useful tenet: Repeat ANYTHING or raise false concern over ANYTHING and it is likely to be planted in the conscious/subconscious of many voters.

robert108 on March 15, 2008 at 06:59 am
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