Mittwoch, September 17, 2008

And To Underscore...

This editorial from the IBD underscores what I've been saying here.

Except that the true initiators of this mess are Carter and ACORN, not merely Clinton: Clinton's people took the corruption to new heights, of course.

Now, other, such as here, insist that the data doesn't support the case, that there are no causal relationships between the legislature's move to enforce lending practices and the subprime crisis as such.

Well, of course there's no simple link of legislation on day 1, subprime crisis on day 1+n.

It's all about the creation of a structural imbalance in the system that, fundamentally, has taken 30 years to thoroughly screw up the process. That's the problem.

Anything else is the desperate desire of the left to defend one of their bastions of pork at the cost of the taxpayers and mortgage payers.

That'd actually be a great class-action suit: all prime mortgage payers suing for the excess interest that they've paid via government fiat to pay for loans to those who could not, can not and would not qualify. Plus the interest over all those years...

Someone tell Edwards that.

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