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
- Jay Evensen: Ask people in the Third World if...
- Jay Evensen: Legislature's pornography...
- My view: Scouting: Friend or foe?
- Jonathan Johnson: The truth about sales tax...
- In our opinion: Critics of porn resolution...
- In our opinion: National security and the...
- Dan Liljenquist: Increasing police officer pay
- My view: The dangers of unilateral debt...
- In our opinion: National security and... 77
- Is it time for our first woman president? 55
- Robert J. Samuelson: The false charms... 55
- My view: Scouting: Friend or foe? 35
- Barack Obama: Religious freedom keeps... 33
- Jay Evensen: Legislature's pornography... 31
- Letter: Coal and job creation 23
- Ralph Hancock: The anti-establishment... 19