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Topic: Federal Regulators Admit That
Clinton´s Mortgage Scam Caused
the Economic Crisis |
Federal Regulators Admit That
Clinton´s Mortgage Scam Caused
the Economic Crisis
RushLimbaugh.com, by Rush Limbaugh
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Original Article
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Posted By:JoElla Bee, 1/10/2013 9:29:29 PM
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| Rush: "Federal regulators for the first time are laying out rules," this is from the AP, "aimed at making sure that people who borrow money for mortgages can afford to repay them." Do you realize what this means? Do you realize what this means? "Federal regulators for the first time..." It´s 2013! For the first time? This is a tantamount admission. Nobody´s calling it this, except I, El Rushbo, except me. I´m telling you: It´s a tantamount admission that the subprime mortgage mess was exactly what it was. It was people who were given loans that could never pay 'em back,
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Reply 1 - Posted by:
bob913, 1/10/2013 10:09:40 PM (No. 9109980)
The clintons brought in their corrupt buddies and have wrecked the lives of millions of people and cost the lives of thousands and left 10´s of thousands of people wounded with their ideas/theories and just base criminality..
I know it, you know it. I absolutely hate it when we see republican politicians being nice to these criminals.
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Reply 2 - Posted by:
Wetlandz, 1/10/2013 10:23:46 PM (No. 9109994)
4 years late news flash to low info voters
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Reply 3 - Posted by:
ccprops, 1/10/2013 10:41:17 PM (No. 9110014)
This is the same story as in Thomas Sowell´s book ´The Housing Boom and Bust´. Sowell tells it in sober and reasoned way. Rush gins it up and makes it entertaining.
But it´s same story: liberal economic dunces with no notion of economic consequences.
And if you think this is bad, just wait until the student loan bubble pops.
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Reply 4 - Posted by:
Philipsonh, 1/10/2013 11:14:16 PM (No. 9110050)
I believe that this is old news. Any informed investor knew long ago that the Government,
the investment brokerage firms, the rating agencies, and Federal agencies were all part of this fiasco. When Lehman Bros , on the verge of bankruptcy, tried to separate the "bad" loans into a separate off-balance sheet entry as opposed to the "good" loans that they would keep on the books, the Government said " no way ". End of Lehman Bros. Incidentally the mortgages Mr Limbaugh is speaking of were integrated with car loans, student loans, etc and the whole ball of wax got far more complex, to the point that few knew how to judge what each pool was worth, and then insurance was taken on the pools , and then insurance was taken on the insurance, like Alice Througjh the Looking Glass, and it all ended in a multi-year recession which is still in play. This has all been greatly exacerbated by President Obama, who never took a budget course in his lifetime.
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Reply 5 - Posted by:
Spidey, 1/11/2013 3:23:15 AM (No. 9110137)
I´d be greatly surprised if these new guidelines applied across the board. Maybe standard banks but I´ll bet the FHA can still make risky loans.The left doesn´t throw in the towel on something like socialized housing out of simplistic common sense like this.
Give me an example of where the left does anything out of common sense and I´ll start listening.
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Reply 6 - Posted by:
Trigger2, 1/11/2013 5:01:56 AM (No. 9110170)
Then how come those inept federal regulators are still allowng the FHA to do the same thing which will cause another bailout in the billions?
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The dam protecting the IRS scandal began to crack today when Lois Lerner, the IRS official who announced, and apologized for, the improper singling out of conservative-leaning organizations by IRS employees under her command, announced through her criminal defense lawyer that she will not testify as scheduled tomorrow before the House Oversight Committee. Rather, she will assert her Fifth Amendment right against self-incrimination. This marks an enormous milestone in the IRS investigation. It can now be taken as more or less established that crimes were committed by Obama administration employees. Lerner’s lawyer tried to minimize the significance
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