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2 of 3 Utah congressmen vote no on bill
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Bernanke wasted all that time going to school and studying the economy when all he had to do was take 2 econ classes and he'd know exactly how the worldwide economy works.
This is just a lame case of politics as usual in Congress...and I thought Pelosi said she was going to change the way Congress was run and bring transparency with her to DC....lies and more lies...
No bailout. People will never learn if someone always bails them out. Let the market do its thing and get Maxine Waters, Barney Frank, Chris Dodd and others out of the mortgage business. If it wasn't for them and their racist attitudes towards the American Dream we wouldn't be in this mess....
So quit with your condescending attitude about education and understanding as you showed in your own post you fail to understand it all.
Geesshhh.
Hello, Newman.
re: All really is well in Zion... | 1:24 p.m. Sept. 30, 2008
I see someone recently got their happy pill prescription renewed. lol.
re: Dixie Dan | 4:44 p.m. Sept. 30, 2008
Both W & J Mac.
Clinton did ask Fannie Mae to change the standards but the Republicans took the hand off and ran for the touchdown.
Now the republicans do not want to help fix the problem created by their Administration. All you BUSH Lover in Utah need to remember this Buyout is his plan not Barney Franks!
Your post shows that you haven't a clue as to what happened with the bill in the House.
Some times it is better just to be quiet than to open our mouths and remove all doubt.
This is the bill of the Democrats, it is Barney Frank's bill, it was a bill that was sending money to ACORN, it was a bill that 12 Dems on Frank's committee didn't vote for.
Again, please stop with the talking points of OlberMonkey....I thought liberals were supposed to be critical thinkers? Not on these pages...
Think for yourself people, those radio shows are bought and paid for by big business that wants you to vote in their interest not your own.
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(1) Barney Frank acted out of compassion; he wanted the poor and minorities to be able to afford housing, and even to own their own homes. A laudable goal, I agree. But his ignorance of economics led to unworkable policy: accept ANY evidence of income (unemployment, alimony, etc.) as valid proof of ability to repay. Bankers who would never have approved loans based on "ability to pay, assets on hand and savings on account" were told that they would be SUED if they turned down too many loans to the poor. THIS collapse resulted, since B. Frank & company resisted any attempt at reforming Fannie Mae and Freddie Mac for the last two decades or so.
(2) Chris Dodd and B. Frank are still in office; they have not offered to resign, no one is talking recall or impeachment. Paulson, Bernanke & Co. are still in office; etc. Did the public revolt upon learning that the same idiots who created this mess are to be in charge of fixing it?
Better no bailout than more of the same.