THE SUB-PRIME MORTGAGE CRISIS ISN’T COMPLICATED

[rhett o rick]

The general public is protected from unscrupulous predators by government regulations. If you don’t want some crook taking advantage of your old grandmother you better hope there are government regulations helping protect her. But the Con’s* figured out that if they paid off their republican Congress people they could get the regulations that protect the unsuspecting changed or eliminated to allow them, the con’s, to prey on those that are the most vulnerable.

So the con’s and their bought and paid for legislators, mostly republicans, get the regulations changed. This allows them to lend money to people that never be able to pay back. This was called “loan sharking” when the mob did it 40 years ago and was against the law. But the Con’s made it legal if “legitimate” corporations do it. Of course, after the unsuspecting get robbed, the rest of us, not wanting to see the victims starving on the streets, help them out. The Con’s get rich, their legislators get rich, and we pay the price.

Rationalization is the Key to Happiness:
Some will rationalize that those that were swindled should have known better and should have read the fine print. Let me ask this, if a swindler sells your poor old grandmother siding for her house that she doesn’t need, do you tell her she should have read the fine print. First of all there might not even be fine print. It would only exist if the regulations require it and remember who is in charge of the regulations. Second, I dare anyone to read the fine print that is not a lawyer. All of us rely on regulations to help us avoid getting swindled by the shysters.


*Con is defined as an unscrupulous conservative that puts money ahead of principles. Since not all conservatives are this devious and greedy it is necessary to distinguish the con’s from the legitimate conservatives. I am borrowing it from Thom Hartmann.

I HAVE ACCEPTED CHEESES INTO MY LIFE

http://keepitsimple-mo.blogspot.com/

[ben_meyers]

1. Read this Mother Jones article before

You think that the Democrats have all the answers. All politicians must be held accountable for the current mess and we must demand answers to what they will do about it now! No one is addressing the situation. I don't care about Pastors, race, gender, dodging bullets or any of the silliness. This economy is in deep trouble and the banking system is ready to collapse. Ask the questions. I'll only support candidates that have the right answers.

It's the Deregulation, Stupid

Commentary: Democrats from Carter to Clinton helped roll back the government's regulatory power, but as the economic crisis deepens, "regulation" is no longer such a dirty word.

By James Ridgeway

March 28, 2008

http://www.motherjones.com/commentary/columns/2008/03/deregulation-economic-crisis.html

It was the repeal of Glass-Steagall Act of 1933, signed by the Big Dog that has created the bulk of our current troubles.

[rhett o rick]

2. I understand that the Democrats are not blameless. But it is part of the republican platform to

screw the masses out of their money.

[rhett o rick]

3. Good article. I feel continued deregulation will lead to a fascist system. I think we are close

now.