AP Rewrites Mortgage Meltdown History
It’s amazing just how stupid the liberal media thinks we all are.
WASHINGTON (AP) — The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.
Okay, but did you review any video…?
Again, for those of us who don’t rely on The Associated Press for information, this is review.
Lame, AP.
Enjoy your layoffs.
December 2nd, 2008 at 9:19 am
Greetings Bob … this morning you’ve stated: “It’s amazing just how stupid the liberal media thinks we all are.” But think about it … they’re over half right … how else can you explain Obama victory on November 4th?
Jimmy Lewis
SCS, Michigan
Blog: http://rougerevival.blogspot.com/
December 2nd, 2008 at 9:24 am
jimmylewis, the Libs got a lot of crap from conservative bloggers for saying just that after the 2004 election.
December 2nd, 2008 at 11:12 am
Jimmy is right. How many times have you heard the phrase “..failed Bush economic policies…” over the past year?
The lefties were able to sell their snake oil to the masses and the righties failed to properly respond.
December 2nd, 2008 at 11:36 am
Read this: It’s an insider’s tale about just how bad the whole mortgage derivatives thing was. It’s long but worth it.
http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom
The Mythbusters proved you COULD polish a turrd, but the bond rating companies perfected it.