A REAL ECONOMIC PROBLEM
is being discussed over at
The Big PictureCalifornia strawberry picker Alberto Ramirez, who despite earning just $14,000 a year, was able to obtain a mortgage to buy a home for $720,000.
As Merrill announces an 8 billion dollar loss in various credit speculations, huge investors bailing out of the dollar in favor of anything else, and this administration sitting on its ass just like it has done over everything else. "Conservative" Bush is spending more money than LBJ---impossible---and the wars are killing us financially. Better stay awake. 173 financial institutions are belly up and more are coming. This is very serious.
2 comments:
This is the same Bush administration that has consistently boasted about home ownership being at an all-time high. Do you think that maybe that was caused by administration officials strong-arming lenders (behind the scenes, of course) into making loans to minority borrowers (read: illegal aliens and their relatives) who could not ordinarily qualify?
So what is your point? Spend even more money to bail all the fools out? Screw them. Let them all go down and allow the the free market time to self correct.
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