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Tieguy Here's How "Conservative" Bush Is
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<blockquote data-quote="wkmac" data-source="post: 274058" data-attributes="member: 2189"><p>The economic thought of republicans had it that a good thing is to make as many people as you can home owners and in principle I would agree. The problem is that in their zeal to make folks homeowers who had never been before, a false market of homeloans were created in order to achieve this goal. Many people who borrowed for homes didn't even have the downpayment so creative loans were made to to fulfill that market. At the same time as the article in the first paragraph spoke of the "unintended consequences of greed!" People debate about what greed means but the unintended consequeces IMO is a pretty good match up.</p><p></p><p>Now that the false market has in effect collapsed, it would appear that instead of forgetting this and moving on, the Bush Adminstration decides to entrench and perpetuate the false market through gov't policy. Now one could argue and rightly so that the real victims in this mess are the homeowners who by slick mortgage brokers in concert with real estate agents got suckered into deals way beyond their means and they didn't have the economic sophisication to catch the trap being laid if you will. You could let the false market die on the vine but the real barbarians at the gate have their money and laugh all the way to the bank. The poor foreclosed homeowner is left holding the bag and what about the big mortgage brokers? Oh, their protected by their corp. charter and the moment the heat is on, they kill the corp. and then re-open under a new name scott free of former liability to do the process all over again.</p><p></p><p>One of the earmarks of fascist economics until the Mussolini model (corporatism)is State control of a private market through regulatory policy. IMHO, this latest action fits that model very nicely! Am I calling some of our gov't practices Fascist? Yeah, but I'm not doing it for political effect like Sean Penn and Rosie do because they also believe in fascist ideals but have yet to look in the mirror to see themselves as such!</p></blockquote><p></p>
[QUOTE="wkmac, post: 274058, member: 2189"] The economic thought of republicans had it that a good thing is to make as many people as you can home owners and in principle I would agree. The problem is that in their zeal to make folks homeowers who had never been before, a false market of homeloans were created in order to achieve this goal. Many people who borrowed for homes didn't even have the downpayment so creative loans were made to to fulfill that market. At the same time as the article in the first paragraph spoke of the "unintended consequences of greed!" People debate about what greed means but the unintended consequeces IMO is a pretty good match up. Now that the false market has in effect collapsed, it would appear that instead of forgetting this and moving on, the Bush Adminstration decides to entrench and perpetuate the false market through gov't policy. Now one could argue and rightly so that the real victims in this mess are the homeowners who by slick mortgage brokers in concert with real estate agents got suckered into deals way beyond their means and they didn't have the economic sophisication to catch the trap being laid if you will. You could let the false market die on the vine but the real barbarians at the gate have their money and laugh all the way to the bank. The poor foreclosed homeowner is left holding the bag and what about the big mortgage brokers? Oh, their protected by their corp. charter and the moment the heat is on, they kill the corp. and then re-open under a new name scott free of former liability to do the process all over again. One of the earmarks of fascist economics until the Mussolini model (corporatism)is State control of a private market through regulatory policy. IMHO, this latest action fits that model very nicely! Am I calling some of our gov't practices Fascist? Yeah, but I'm not doing it for political effect like Sean Penn and Rosie do because they also believe in fascist ideals but have yet to look in the mirror to see themselves as such! [/QUOTE]
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