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
- Letter: Climate change is unjustified rhetoric
- Letter: We can do better
- John Florez: Teach our children the love of...
- In our opinion: Navajo Nation looks to combat...
- David Butterfield: Utah boxing legends...
- In our opinion: Recent drowning of 800...
- Jay Evensen: U.S. silence troubling amid...
- My view: Problems with Rep. Mike Noel’s...
- Richard Davis: A historic moment for... 60
- Jay Evensen: U.S. silence troubling... 59
- Letter: Climate change is unjustified... 31
- A. Scott Anderson: Overregulation hurts... 25
- Letter: We can do better 25
- Letter: Pledge for respect 24
- In our opinion: Recent drowning of 800... 21
- Letter: Make healthy choices 13