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Neal Boortz - Neal's Nuze
You Made Me
2008-09-17 - 11:28 a.m.
Brin packs up tonight to head back to San Francisco.
Thankfully, I'll be at work - and thus out of her way.
Nancy Pelosi believes that the Democrats bear absolutely no responsibility for the current financial crisis.
Problem with that. A huge chunk of the financial problems we're having are based on bad mortgage lending - i.e, lending money to people to buy homes who didn't qualify for a loan. Now, back in the 70's, the Democrats lambasted the financial institutions for too-strict loan requirements, and started drafting laws that forced lenders to offer loans to people who wouldn't qualify otherwise.
Then, during the Clinton presidency, Democrats strengthened a set of laws called the "Community Reinvestment Act." This law was then used as a tool by activists to force lending institutions to make these bad loans - millions of them.
Now you can see what happens when political "wisdom" overrules good loan underwriting. When private financial institutions are virtually forced to make loans to people with bad credit and a lousy history with jobs - people who can't afford homes in the first place - this is what'll happen.
Me, I've worked at the same place for over sixteen years. My credit is absolutely lousy, due to stupid things I did when I was young. I don't know if I'll ever own a house. But I do know that, if I did try to get a loan, it would be a non-adjustable so the payments would be the same every month.
When it comes to mortgage payments, surprises are a bad thing.
Oh, and it seems this kind of bad economic news is just what the Obama team wanted.
Isn't that nice?
Oh, the terrible scandal - Sarah Palin had a tanning bed installed at the Governor's mansion! And she bought it used with her own money! Not TAXPAYER'S money, but HERS!!
I personally know someone - Brin, as it turns out - who needs light therapy, which (according to the comments) is something that a tanning bed can be used for. Is it possible that it's not just for cosmetic purposes? And is it possible that, if she got it used, she didn't pay what the US Magazine article is claiming she paid?
Today we have several things to accomplish before I go to work.
Be seeing you.
1 comments so far
artgnome - 2008-09-17 20:49:48 - http://artgnome.diaryland.com
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