Local RW radio - Dems fault of course (but kinda funny).

[TNDemo]

I listened just long enough this morning to hear them say the entire problem with the bailout is due to the Democrats forcing Fannie and Freddie to make these loans that they did not want to make to people who couldn't afford them. Apparently the dems wanted everybody to have a house and came just short of holding a gun to the heads of the Fannie/Freddie folks and forced them to give loans they did not want to make. I guess those same dems (and when did they ever get any power???) sold those loans down the river and bet on them being worth a lot more than they were. Bad dems forcing those fiscally responsible folks who did not want to make those loans!!!

[sniffa]

1. Blame Jimmy Carter

That's what an LTTE a few days ago said, and that Jimmy made banks lend to undesirables.

This writer was ahead of the curve.

[Saphire]

5. The version I heard was the J Carter would fine them 250K for every

loan they turned down. Then the story jumps to Clinton's fault. Nothing at all said about B*sh Sr., Regan, B*sh Jr......just more RW bullshit.

[sniffa]

7. But Jimmy Carter forced them to lend to black people

It's his fault.

[tularetom]

2. Amazing - I heard the same spiel almost word for word from my brother this morning

right down to the "holding a gun to the heads" analogy. Apparently the talking points get disseminated very efficiently.

[dkofos]

3. How utterly fucking stupid!!

[Fuzz]

4. They have been pushing this meme for a while now

It's going around freeperville, and it's all the Dems fault now according to them.

[EC]

6. Well no one made the mortgage companies make the loans

so out of reach that no one could pay them once the interest rates increased...or balloons due in five years...most of these bad loans are equity loans made to the better off that lost jobs or got sick etc.


Have to add on edit: Drive through your neighborhoods, it's the houses in the new sub-divisions and higher income properties with the for sale signs in front, not the poorer neighborhoods...and if they are trying to sell during a buyers market, it means foreclosure or near foreclosure...

[Naturalist]

8. TOTAL BS

We know this because earlier someone posted the Fed Stats on home mortgage loans. Only 92 Billion was in default not 700 Billion. If they say something, immediately realize that it isn't true. That probably, just the opposite is. It will save you much grief and you will live longer.