So Long Fannie, Goodbye Freddie
Crony capitalism is the root cause of the subprime mortgage crisis.
posted by Spencerblog at
7:04 AM
Wednesday, September 24, 2008
posted by Spencerblog at
7:04 AM
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1 Comments:
Opportunist LibDem Socialists have seized on this financial crisis and used it to denounce Capitalism. When it was the Socialist Libs who created the problem from the start. Liberalism killed the mortgage by pressuring creditors to take risks and extend mortgages to people who couldn’t afford them and had no business getting one, all for some misguided Lib social engineering affirmative action effort to extend the American Dream to everyone –particularly blacks. Any creditors who were reluctant to take on these risky borrowers and charged them more than qualified borrowers were bullied and threatened and labeled “predatory lenders” (Lib code for financial “racist”) This contaminating of Capitalism by mixing in Socialism has resulted in the domino mess we have today. The problem got further compounded when the creditors bundled these bad “sub prime” mortgages with there regular, healthy mortgages.
Now we’re seeing Repubs trying to fix the mess and LibDems using the fix for more expensive wealth spreading Socialist games, just as they tried to do with the stimulus package tax “rebate” where they tried to give rebates to those who had paid no taxes.
And despite their public hand wringing and finger pointing for political points in this election season, the Socialist LibDems are thrilled that the government is taking control –“nationalizing”- the financial market. Think: Commie Chavez taking control of Venezuela’s oil companies. We can expect the same from a Socialist Obama president who has already made noises in that direction.
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