You know, we (I’m guessing you’re not that different from me) get a boatload of “stuff” in our email in-boxes on a regular basis. All kinds of wild, outlandish forwards that fuel the fire for “our” side – whichever it is. I just got this article forwarded today and, although I’ve heard it discussed some, I confess that I didn’t quite believe the article truly existed. But I “googled” it and here is the link to the real, original article published on the New York Times’ own website on September 30, 1999.
NY Times – Fannie Mae Eases Credit to Aid Mortgage Lending
This financial mess, banks folding because of bad debts, is due to government meddling. The government started telling banks to lend to bad credit risks and… surprise, surprise… they turned out to be bad credit risks. It was the Clinton Administration – read the article – that pushed it but Congress went along with it. We need government to quit mucking with business.
And now the government wants to meddle again and is blaming greedy banks for causing the problem.
I can’t help thinking we’re at a crossroads – not a financial one, although getting through this may well be a significant challenge. I think we’re coming to an Accountability Crossroads. It is time to toss out the pork-spending, promise-lying do-nothings and put some common sense in our government.
