Posted by wylie715 on 12/5/2017 7:31:00 PM (view original):
Posted by DougOut on 12/5/2017 7:23:00 PM (view original):
The whole reason for the economic collapse is the democrat party.
Barney Frank and Chris Dodd and Nancy Pelosi. Goes back to Carter actually.
Forced banks to loan money to people who couldn't pay it back.
and I suppose the democrats forced people to take out those loans too?
Of course not. That's silly. The people did it because they could.
The Banks did it because they had to. Or else.
And when the loans began to default, the banks LEGALLY wrote notes and bundled them to other investors.
We think of it as a Ponzi scheme.
I distinctly remember, and can reproduce reports and media from that time, where President Bush called the fiscal practices of FREDDIE and FANNIE into question.
The Democrats, lead by FRANK and DODD denied any problems and declared these notes strong and solvent. Conyers cried RACISM and MAXINE WATERS tripped the light fantastic down the walkway of political fashion in a media frenzy. Democrats ran the thing. They invented it. You funded it.
The establishment Republicans crawled back into their shell.
The paper got passed off to the last guy in line. There was no one to sell it to and it was worthless.
There's a lesson. IF YOU MAKE LAWS for votes or interfere when you don't know what you're doing (Like the current punitive and destructive DOT trucking laws about to go into effect) it will come back to bite you.