Tuesday, December 2, 2008

Everything you ever wanted to know about the mortgage meltdown

All the liberals, progressives, and Democrats can try to blame the current economic crisis on Bush all they want. The facts paint a much different picture of who is responsible.

Start at the bottom.

IBD takes a look at the root causes of the subprime mortgage meltdown and the related financial crisis.
Part Five
Saddest Thing About This Mess: Congress Had Chance To Stop It
Could the crisis at Fannie Mae-Freddie Mac and the subprime meltdown have been avoided? The answer is yes.
Part Four
Congress Pushed Fannie, Freddie In Wrong Direction During 1990s
It was October 1992, nearly 15 years before the housing meltdown and subprime crisis. Republican Rep. Jim Leach of Iowa was on the floor of the House, talking about something that no one at the time seemed to care about: the potential danger that Fannie Mae and Freddie Mac posed to the economy.
Part Three
How A Clinton-Era Rule Rewrite Made Subprime Crisis Inevitable
One of the most frequently asked questions about the subprime market meltdown and housing crisis is: How did the government get so deeply involved in the housing market?
Part Two
Good Intentions Paved The Road To Subprime-Stoked Meltdown
For those looking for a real start to today's financial meltdown and government rescue, you need to go back — way back — to 1977, and the Jimmy Carter presidency.
Part One
'Crony' Capitalism Is Root Cause Of Fannie And Freddie Troubles
In the past couple of weeks, as the financial crisis has intensified, a new talking point has emerged from the Democrats in Congress: This is all a "crisis of capitalism," in socialist financier George Soros' phrase, and a failure to regulate our markets sufficiently.

Special thanks to D.M. for a great find!!

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