In his remarks following the State of the Union address, Sen. Marco Rubio made some outright lies, perhaps the most egregious of which was his assertion that government caused the housing bubble. There is some slight truth to this in that the Fed's soft money policy fed the bubble and government policy favored home ownership (as have all administrations since FDR).
But mostly, the housing bubble was created by years of flat wages, feeding soaring corporate profits which landed in banks so massively that the banks needed to do something with them, especially pushing mortgage loans on people who could not afford them, including increasingly nonstandard mortgages. Rubio's remarks were less a Republican response, and more the first speech of a campaign for the presidency, stroking the right wing base.
Lew E. Jeppson
North Salt Lake
- John Florez: Utah's prison relocation is like...
- In our opinion: The 3 levels of Christmas
- Reconnecting with Cuba is a good move —...
- Greg Bell: Socialism vs. the safety net
- Letter: Patriots or sheep?
- Carmen Rasmusen Herbert: New Christmas...
- My view: Doing away with cursive is bad idea...
- My view: In the name of God?
- Letter: Patriots or sheep? 63
- Greg Bell: Socialism vs. the safety net 45
- Mike Lee: Change is coming to Washington 44
- Susan Roylance: Definition of the... 35
- My view: Chaffetz named... 34
- Jay Evensen: Cuba not likely to change... 34
- Letter: Patriots or serfs? 33
- My view: Torture, morality and the laws... 30