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
- 10 things you never knew about the FBI
- Lawrence and Windsor won't trump Utah...
- In our opinion: The long-term outlook for...
- My view: Balancing personal conviction and...
- Robert Bennett: Hamas and its financial...
- Frank Pignanelli & LaVarr Webb: Re-enactment...
- Letter: Policy disagreement
- Mary Barker: The Romney I may have voted for
- Lawrence and Windsor won't trump Utah... 108
- Mary Barker: The Romney I may have... 72
- Stuart Reid: Translations of religious... 61
- Dan Liljenquist: Religious liberty and... 50
- In our opinion: History will remember... 46
- Letter: Breeding hate 44
- Letter: Policy disagreement 44
- In our opinion: The long-term outlook... 43