Glenn Reynolds links to the below video of Rep. Barney Frank ably defending himself against the fallacy that is now Republican gospel about who had what role in the mortgage crisis (somehow the fact that the economic collapse happened under a conservative Republican obsessed with deregulation never comes up, or Bush campaigning on subprime mortgages). [...]
Real Estate News
Them & Their Silly Tea Party
February 27th, 2009
52 Comments
The wingers are in town for CPAC this week and in the midst of all that crazy (joking about Chicago being nuked, for instance) they’re having their Rick Santelli inspired tea parties – which is just the latest version of the Joe The Plumber (who called for journalists to be shot today) brand of stupidity [...]
The Community Reinvestment Act (CRA) Did Not Cause The Mortgage Crisis
September 28th, 2008
57 Comments
The Republican party is just trying out the latest version of the Southern Strategy.
First of all, even if Fannie and Freddie were the most awful companies in the history of the planet, its books chock-a-block with non-performing loans, none of the financial contagion—none of it—would have happened had not greedy financial institutions invented the risky [...]
McCain Wants Freddie Mac Lobbyist On Transition Team
September 23rd, 2008
3 Comments
After this campaign is over there’s got to be some in depth examination of why John McCain so strongly desired to surround himself with lobbyists. The latest is William Timmons Sr., tapped to lead McCain’s transition team, who is a Freddie Mac lobbyist. God willing, this transition team will exist only in theory.
The lobbying firm [...]
Conservative Larry Kudlow Blames Financial Crisis On Poor People
September 18th, 2008
21 Comments
I’m tempted to say that CNBC’s Larry Kudlow came to this conclusion because he’s back on drugs, but it’s even worse than that. Kudlow, and many conservatives, are not in fact chemically imbalanced but seriously believe this crap.
In this clip from Morning Joe, Kudlow details how he believes that the poor multibillion-dollar firms on [...]
Republican Recession Watch: Fannie Mae & Freddie Mac To Be Turned Over To The Government
September 5th, 2008
24 Comments
Running the federal government is, indeed, “hard work”. Republicans, for the past decade or so, have worked hard at getting elected then once in office they think the job is done – mission accomplished. That’s why they argue so strenously against the government we are all a part of. That is why their goal is [...]
Republican Recession: FDIC Borrowing Money From Treasury
August 27th, 2008
5 Comments
As John McCain says, the fundamentals of our economy are strong
Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported.
The borrowing could be needed to cover short-term cash-flow pressures caused by reimbursing depositors immediately after the [...]
