Do Right-wingers Simply Lack the Intellectual Development to Comprehend the Causes of the Subprime Crisis?

Answers:1   |   LastUpdateAt:2012-11-06 01:52:03  

Asked at
The propagandists of the bankers (ie Faux News) wants to promote a simplistic explanation, no sense of the financial crisis that does not bother to examine the capitalist system. Instead, they want to blame the "do good" Democrats forcing our dear and trusted bankers to write mortgage loans to poor people who could not afford those houses. What nonsense fairy tale! MedlinePlus MedlinePlus Who remembers a time when people were rushing to exploit poor bankers are required to write mortgage loans? I have friends who earn very meager still living in the same apartment old shit they did 10 years ago. I'm more politically involved and have never heard of any program that would have allowed these wonderful friends to buy houses. Why are people still stuck paying exorbitant rents on apartments of shit when they could have bought wonderful houses instead? MedlinePlus MedlinePlus And we're not talking about a couple of my personal friends. These are apartment communities are huge and filled with tenants who work relatively low pay. No "do good" Democrats were demanding affordable rental properties for these people. During the peak of the bubble of low-income people who supposedly could have bought a house for $ 175,000 for the same amount they were paying in rent apartment in ruins MedlinePlus dangerous neighborhoods. But I do not know anyone who made that purchase. MedlinePlus MedlinePlus In contrast, and as we all know, was middle-class people with good incomes who moved in newer homes and larger. He was wealthy investors who were gobbling properties and then "flipping" them weeks later. That's the story we all remember. MedlinePlus MedlinePlus The fact that the collapse of the housing bubble is that most defaults came from the middle class. The poor never were buying homes they could not afford the demands that Democrats did the bankers. That never materialized claim until long after the crisis broke out and was looking right BS explanation that would exonerate the bankers while blaming the liberals and the poor. MedlinePlus MedlinePlus As we all know, the bankers were getting really filthy rich during the entire housing bubble. Shares of Countrywide Financial, Goldman Sachs, Merrill Lynch, Lehman Brothers were all flying to new highs almost daily as record quarterly earnings became a regular event. MedlinePlus MedlinePlus Furthermore, the amount needed to bail out bankers exceeded the value of the properties in default. In fact, the bankster bailout requires more money than it would have been necessary to pay the mortgage each and every credit card for all Americans. MedlinePlus MedlinePlus What's more, the crisis is global. How is it possible that a few million dollars in bad loans for middle class Americans in homes secured by the property itself could have brought the entire world capitalist system to collapse? MedlinePlus MedlinePlus No, no. There must be a rational explanation and depth of the crisis that the bankers and their propagandists want the public to know. The bankers were involved in a MedlinePlus highly leveraged Ponzi scheme with MedlinePlus many with Enron-style accounting tricks off-balance. MedlinePlus * At the time of the crisis, only $ 11.5 trillion were paid all mortgages and every credit card for all Americans. However, the rescue is now over $ 18 trillion. Why banks need more bailouts money than they actually have a debt?
Answer1ElAnswered at 2012-10-22 02:21:07
You are ignoring the bubble . The conservatives bubble we live and do not like things like facts getting in MedlinePlus They just ignore it because they like the other answer better, no matter what the facts are . MedlinePlus MedlinePlus This discussion on YouTube explains everything very clearly .
Answer2math hates me :(Answered at 2012-11-04 04:56:16
Yes they do lack the intellectual ability. Funny how they all embrace an explanation that serves to exonerate the banksters.

And as we can all see the banktsers' sock-puppets are hard at work today on YA.
Answer3gaberrielAnswered at 2012-11-06 01:50:16
It really isn't very difficult to understand...


1977: President Jimmy Carter (D) signs the Community
Reinvestment Act (CRA) guaranteeing home loans to low income families

1999: President Bill Clinton (D) puts the CRA on steroids,
pushing Fannie & Freddie to increase the # of sub-prime loans.

2003: White House calls Fannie & Freddie a systematic risk.

2003: Barney Frank (D-CT) says Fannie & Freddie are not in crisis.
He bashes Republicans for crying wolf and calls F & F financially sound.

2003: Democrats block the Republicans-sponsored regulations

2005: Sen Schumer, (D-NY) says
Related Questions
  • Answer This Question:Do Right-wingers Simply Lack the Intellectual Development to Comprehend the Causes of the Subprime Crisis?