A two tiered society is not a good thing.

[proud2BlibKansan]

According to many talking heads and bloggers on the right, this crisis is due to giving mortgages to poor people who probably shouldn't be homeowners.

Bill O'Reilly said just this week that "we need to face the fact that not everyone in this country can be a homeowner". And I heard some right wing guy on the radio just now claim that as much as 50% of the Fannie and Freddie mortgages "went to people who should never have been allowed to own a home in the first place". One of his callers said "let them all rent" and another said "poor people need to learn their place".

First of all, there is no credible economist blaming this crisis on either the mortgages or the poor; that is strictly a right wing talking point (and a sick one at that). I find it interesting that our dear right wing fiends er I mean friends fail to mention the golden parachutes handed out by many of these same Wall Street firms we are now "saving" from economic collapse. They also fail to mention the cost of the war or even the surge (if we admit it is working, will they admit it is costing way too much?)

We are winning a war while we are going bankrupt. And Osama is sitting in a beach front condo in Saudi Arabia laughing his ass off while the right wingers, who fail to understand the importance of helping the poor improve their lives (and the resulting benefits to ALL of us), blame the poor.

"Let them eat cake!"

As a homeowner who bought my first home with a government insured mortgage for first time low income buyers, I am appalled at the notion that some people just shouldn't ever get to buy a home.

As a working professional who went to college on student loans that were forgiven for choosing the profession I entered, (a loan program, that like my mortgage program, was done away with during the Reagan administration), I am disgusted that it seems okay to the selfish right wingers that not everyone in America should be able to afford to go to college.

A two tiered society is not a good thing. Even if the right wing fools who are blaming the poor for this crisis ended up being in the bottom tier, I would still say a two tiered society is not a good thing.

And the poor are NOT responsible for the economic crisis.

on edit, I also posted this on a local blog and got this response from an idiot:

Said a liberal on the outer edges of space:

First of all, there is no credible economist blaming this crisis on either the mortgages or the poor

Bank with backing from Fannie Mae: Do you want a subprime mortgage?

Jose: No way! I can't afford a home.

Bank with backing from Fannie Mae: I'll make interest rates* so low in those mortgages & down payments near non-existent -- whaddaya say, Jose?

Jose: What's the asterick?

Bank with backing from Fannie Mae:: Think of it as a smiley face.

Jose: Aye, yi, yi, yi, yi -- I am the Frito bandito. I get me a house for me and my spouse. Nothing down, Nobody frown. Aye, yi, yi, yi!!!

[PDJane]

1. The economic crisis happened,

as it almost always does, because of the weight at the top taking the breath and food and water and lifeblood of those at the bottom of the heap.

This has happened before. If we don't figure out some way to but the brakes on the Washington Concensus, it will happen again. We have short memories. It happened in the Roman Empire, it happenned in the Renaisance, it happened in the 1600's, it happened in the 1920's....and we don't damn well learn our lessons and reign in our greed. It's always easier for the elite to blame it on the poor. Contrary to popular belief, the poor have not always been with us.....but you can't have great wealth without great poverty.

[proud2BlibKansan]

2. Yes great response

And while we fail to learn from history, that great poverty we create will result in real damage.

[proud2BlibKansan]

3. Bill Moyers on this issue:

http://www.pbs.org/moyers/journal/10032008/watch2.html