On Sun, 01 Mar 2009 19:25:57 -0600, Vic Smith
wrote:

On Mon, 02 Mar 2009 07:49:34 +0700, Bruce in Bangkok
wrote:


I have wondered about the "Democrats" shouting at the "Republicans"
about the "Bush" finances when the drive to allow poor people to
borrow money to buy housing seems hardly a "Republican" philosophy,
rather more lie the wild eyed liberal sector of the Democrats.

Do you seriously think "poor people" piled up $trillions in debt?
Laughable.
And I can't count the times GWB mentioned "home ownership" as proof
"the fundamentals of the economy are sound."
I really think you're out of touch.
It took both Rep and Dem dickwads to get the economy in this mess.
And the people who voted for them.
What's nice about democracy is "the people" get exactly what they
deserve.
I like it.

--Vic


No, poor folks didn't pile up all that debt. But Fanny May
underwriting poorly secured mortgages certainly sent a signal to the
loaning companies that practically anyone should be able to get a
mortgage.

This, by the way, was pointed out by the GAO some time ago (years) and
if I'm not mistakes the head of the agency was dismissed or had to
resign due to the policy.

So, yes. The idea that poor people who wouldn't qualify for a loan
under any sensible evaluation plan should be able to buy a house does
sound like a left of center Democratic idea. On the other hand letting
the lending agencies leverage their business to a ridicules level
sounds more like a Republican move.

My suspicions are that as a general statement, "politicians will
always do everything they can to get reelected" is probably a valid
premise.

Cheers,

Bruce in Bangkok
(bruceinbangkokatgmaildotcom)