> Maureen wrote: > > Where can I find information about this policy of forcing Fannie to > assume bad loans? >
It's Robert's ostrich move to avoid accountability for his political priests. Basically Robert is trying to imply that because there was a policy to bend requirements and lend money to low income applicants, that caused the meltdown. This is the type of accusation that requires complete ignorance on the part of the person making it. They need to be completely ignorant of: 1.) the reason for the financial system meltdown, 2.) the mortgage numbers, and 3.) the current state of the economy. For example, Robert is saying that the reason there's a demand side problem is because people are scared to spend because of Obama. I guess he thinks it doesn't have to do with the skyrocketing unemployment rate, porpoising energy prices, destroyed home values, or devastated markets. The unfortunate part is, the facts and numbers in this case are totally clear: derivatives caused the credit crisis, mortgages were just the first to hit, and the demand side stimulus is best done through social programs for the simple reason that poor people spend because they don't have the option of saving. The mechanisms are complicated, but the reason and the data is simple. Robert is trying to obfuscate the simple data in an attempt to avoid accountability. And thus he's choosing to join the ranks of Madoff, Skilling, and Blago. I just wish he was as entertaining as Hot Rod, because that guy rules. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:287132 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
