Comment 36730

By A sign of the times ... (anonymous) | Posted January 02, 2010 at 12:29:16


I admit, I was being a little dubious when I marked 2006 as the end of the booming US economy. It actually started during the Carter Administration. Jimmy's vision of home ownership for every man and woman, regardless of income, job, residency status, etc. started the slippery slope. No Administration, Republican or Democrat had the balls to change it, fearing public outcry and of course, votes. We are very fortunate in Canada to have such a well regulated financial system that allows lenders to turn down applicants. We are the envy of the world right now. Obama's Administration, with all of its wisdom has passed a bill that ultimately forces lenders to lend money to people who barely qualify.

Barney Frank, chairman of the House Financial Services Committee, rejected a Bush Administration and Congressional Republican plan for regulating the mortgage industry in 2003, saying, "These two entities Fannie Mae and Freddie Mac are not facing any kind of financial crisis." According to a New York Times article, Frank added, "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

Irving, you might try to cut out the childish name calling and inflammatory remarks. You appear to be a very upset individual who can't stand the fact that this mess isn't completely Bush's fault.

Permalink | Context

Events Calendar

There are no upcoming events right now.
Why not post one?

Recent Articles

Article Archives

Blog Archives

Site Tools