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Anonymous (not verified) says:
Joe, Joe Joe!
What economic mismanagement? I think that you must be specific. I am sick of generalized criticisms where the term "mistakes were made" or "change" is used to be interpreted in many different ways. This tactic is pure demagoguery. If you point at President Bush's failure to veto excessive spending and to sign the most expensive welfare bill since the no-so-Great-Society initiative, maybe you have a point!
The current economic crisis is the product of congressional and other political pressures to apply radical egalitarian imperatives to credit markets. "Subprime" describes borrowers who are not entitled to borrow money because they have histories of bad financial behavior, employment and income earning capacity. These subprime borrowers previously did not have access to credit, and are disproportionately black and hispanic. Lending agencies have now given them loans and they are unable to pay the market price, often because they were aggressive liars in making loan applications. The political initiative, based in radical egalitarian myths, forcing lending institutions to make imprudent loans, is the problem here. George Bush had nothing to do with that!
Joe, Joe Joe!
What economic mismanagement? I think that you must be specific. I am sick of generalized criticisms where the term "mistakes were made" or "change" is used to be interpreted in many different ways. This tactic is pure demagoguery. If you point at President Bush's failure to veto excessive spending and to sign the most expensive welfare bill since the no-so-Great-Society initiative, maybe you have a point!
The current economic crisis is the product of congressional and other political pressures to apply radical egalitarian imperatives to credit markets. "Subprime" describes borrowers who are not entitled to borrow money because they have histories of bad financial behavior, employment and income earning capacity. These subprime borrowers previously did not have access to credit, and are disproportionately black and hispanic. Lending agencies have now given them loans and they are unable to pay the market price, often because they were aggressive liars in making loan applications. The political initiative, based in radical egalitarian myths, forcing lending institutions to make imprudent loans, is the problem here. George Bush had nothing to do with that!
Mike