Comments on: How Government Caused the Mortgage Mess

By: V the K

V the K — Sun, 05 Oct 2008 18:48:34 +0000

This book first appeared in 1946.

There’s the problem. In 1946, money was only loaned to people who could pay it back. After the Civil Rights movement, this became known as “redlining,” and denying credit to people who would never pay it back was labeled “racist.”

By: Vince P

Vince P — Sun, 05 Oct 2008 15:33:37 +0000

Not that amazing since you didn’t correct any of it

By: michael

michael — Sun, 05 Oct 2008 15:13:52 +0000

the level of intellectual honesty and economic knowledge in here is amazing.

By: ThatGayConservative

ThatGayConservative — Sun, 05 Oct 2008 06:31:02 +0000

BTW my investments grew, albeit slowly, because I took responsiblitiy for it.

By: ThatGayConservative

ThatGayConservative — Sun, 05 Oct 2008 06:29:09 +0000

What kind of ignorant wretch gets bent out of shape over the performance of long term investments over such a relatively short period of time?

By: V the K

V the K — Sun, 05 Oct 2008 05:31:29 +0000

Michael's inane comments make me wish I could put pictures in the comments because sometimes a picture just says it so much better.

By: Rocket

Rocket — Sun, 05 Oct 2008 04:48:11 +0000

oops..that’s the Community Reinvestment Act..sorry for the typo.

By: Rocket

Rocket — Sun, 05 Oct 2008 04:41:58 +0000

I will never understand why McCain is not hitting hard on the Democratic mess with Fannie/Freddie, which is at the root of the entire financial mess.

To me it is a huge blunder and still astounds me that McCain started down to hit Nobama on it and then dropped the ball.

And hit Nobama on Acorn that he helped win the lawsuit that led to the furtherance of the Jimmy Carter/Clinton mess of the Community Redevelopment Act of creating sub prime loans…….and just think Nobama and the Dems with their lack of judgment and bad judgment led to this mess and you want to put him in the White House?

Marxism/Socialism here we come…and when is McCain going to start to hit Nobama on his Marxist ways?

By: SoCalRobert

SoCalRobert — Sun, 05 Oct 2008 03:09:08 +0000

#5: it’s been a long time but I think the game in those days was to “sell” public housing to those that live there.

By: michael

michael — Sun, 05 Oct 2008 02:30:17 +0000

ya, VTK, and how much did your IRA’s etc lose? and how much they didn’t with the current example of corporate welfare. you socialistic pig.

By: Obama: Socializing America — one “idiot” at a time « Over-the-Hill Oracles

Sun, 05 Oct 2008 01:20:10 +0000

[...] not that we weren’t forewarned about the dangers of government-subsidized [...]

By: Swampfox

Swampfox — Sat, 04 Oct 2008 22:08:46 +0000

Was Kemp for the program to give loans to people that couldn’t afford them?

By: SoCalRobert

SoCalRobert — Sat, 04 Oct 2008 21:25:52 +0000

Nature demands that it work the other way around, and nature does not long tolerate fools.

VtK: well said. I must point out that the well-meaning knobs are a bipartisan lot. I seem to remember hearing a lot of this “home ownership as a magic bullet” in the 80s from people like Jack Kemp.

By: V the K

V the K — Sat, 04 Oct 2008 19:50:22 +0000

Some well-meaning knobs thought that if you gave people home ownership, personal responsibility would follow. Nature demands that it work the other way around, and nature does not long tolerate fools.

By: sierra

sierra — Sat, 04 Oct 2008 19:45:45 +0000

The same excellent book also features a simple formulation that has been much on my mind these last few weeks: credit is not something that can be given to you; you can only earn it.

By: Swampfox

Swampfox — Sat, 04 Oct 2008 19:21:25 +0000

Isn’t that basic economics 101? I have been reading Instapundit today, Glenn Reynolds says that the unfunded State pension fund of Illinois might be has much as 44 billion.