What Caused The Economic Crisis?
Conservatives With Attitude’s! Stan Gendlin has a terrific post up today regarding this very question. His post started an interesting discussion among Stan, myself and other readers (albeit a contentious one for some!). But I really do think this is important for people to understand and to spread the word around. The media and some politicians would like us believe it was greed on Wall Street that caused this problem, but in reality it was corruption and ill-conceived government policies on East Capitol Street that started this runaway train down the tracks.
Additionally, you might want to check out this great video on the subject.
November 25th, 2008 at 6:33 pm
November 25th, 2008 at 7:37 pm
Obviously, the goal was to make it easier for people to own a home. If you look at Wikipedia’s entry it also mentions stopping the practice of ‘redlining’ – which brings a whole racial component to this story. http://en.wikipedia.org/wiki/Redlining
When I read this…
“The term “redlining” was coined in the late 1960s by community activists in Chicago”
…guess who I instantly thought of?
November 25th, 2008 at 9:04 pm
…guess who I’m thinking of?
November 25th, 2008 at 11:13 pm
Oh, by the way. Mr. Reagan was also an adult. Unlike people who feel the need to impersonate others on a blog. So, if you do it again, it’ll be deleted.