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
- Join the discussion: Is feminism misunderstood?
- Doug Robinson: Violence against women is...
- In our opinion: The Affordable Care Act needs...
- Can a news channel 'solve problems'?
- Dan Liljenquist: The economic impact of...
- In our opinion: Federal contracting executive...
- In our opinion: Timing is right for the...
- My view: Balancing personal conviction and...
- Lawrence and Windsor won't trump Utah... 114
- In our opinion: The Affordable Care Act... 79
- My view: Balancing personal conviction... 53
- In our opinion: The long-term outlook... 51
- Letter: Policy disagreement 45
- Can a news channel 'solve problems'? 45
- My view: A global warming solution to... 36
- Join the discussion: Is it impossible... 33