Car lots in Vegas are fast dissapearing, dealerships also. I hope Obama can pull a magic bullet out of his ass, or things are about to get mighty rough, Thanks George.
A
September 11, 2003 New York Times article shows that President Bush proposed the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago. His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac.
Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.
These two entities Fannie Mae and Freddie Mac are not facing any kind of financial crisis, said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
I dont see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing, Mr. Watt said.
This is directly responsible for the credit crisis which the evil business' required to stay in business.
But lets chant some slogans and blame it on Bush.
Med man you are champion slogan chanter, but you ignore the actual events leading to this.
You say it all about the evil greedy corps, and you are somewhat right, but you ignore the leftist that contributed to it just as much.
(p
