Day by Day

Wednesday, September 17, 2008


Is there anything they can't destroy and then blame on someone else?

The untold story in this whole national crisis is that President Clinton put on steroids the Community Redevelopment Act, a well-intended Carter-era law designed to encourage minority homeownership. And in so doing, he helped create the market for the risky subprime loans that he and Democrats now decry as not only greedy but "predatory."

Yes, the market was fueled by greed and overleveraging in the secondary market for subprimes, vis-a-vis mortgaged-backed securities traded on Wall Street. But the seed was planted in the '90s by Clinton and his social engineers. They were the political catalyst behind this slow-motion financial train wreck.

And it was the Clinton administration that mismanaged the quasi-governmental agencies that over the decades have come to manage the real estate market in America.

Never let a lawyer meddle with the economy. And never let a Leftist anywhere near the levers of government. The results end up hurting everyone except for the rat-bastard commies who caused the problems in the first place. Because they make damn sure they got theirs, and screw everybody else.

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