9 comments

  1. Harry says:

    Out of the $700 billion bailout (make that $1.4 trillion) the fat cats get to save their jobs and investments, the poor cats get free houses, and the middle class cats takes it in the shorts.

  2. IndyInjun says:

    Chavez is more than twice as popular than Bush among his people, but among bankers and FRAUDSTERS, W is beloved.

    Harry is right.

    This is massive theft from the middle class.

    Frank all but says he will stop foreclosures, giving irresponsible people $trillions in gifts.

    The bailout itself will end up in excess of $5 Trillion, as Harry is also right to note that $700 billion is what the Fed has already spent.

    The PEOPLE are burning up the email, fax, and phone lines DEMANDING no bailout.

    We are about to find out who really controls our government.

  3. Skeptical says:

    Hmm…between the two, I’ll forever take my chances with the one that can speak in complete sentences and add big numbers.

  4. AtlConservative says:

    This sucks! I actually agree with Carter on something! UGGGGG! I think I just threw up a little in my mouth.

  5. jsm says:

    Yeah, Carter’s the one to listen to about this mess he helped create. Right.

    from Investor’s Business Daily:

    http://www.ibdeditorials.com/IBDArticles.aspx?id=305938528597493
    “In 1977, Carter, along with a Democrat Congress, created a worthy project with noble intentions — the Community Reinvestment Act. Over strong industry objections, it mandated that all banks meet the credit needs of their entire communities.

    “In 1995, President Clinton imposed even stronger regulations and performance tests that coerced banks to substantially increase loans to low-income, poverty-area borrowers or face fines or possible restrictions on expansion. These revisions allowed for securitization of CRA loans containing subprime mortgages.

    “By 1997, good loans were bundled with poor ones and sold as prime packages to institutions here and abroad. That shifted risk from the loan originators, freeing banks to begin pyramiding and make more of these profitable subprime products.

    “Under two young, well-intended presidents, therefore, big-government plans and mandates played a significant role in the current subprime mortgage mess and its catastrophic consequences for the U.S. and international economies.”

Comments are closed.