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clinton caused mortgage mess

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zendell
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23 Dec 2007, 6:53 pm

I agree Clinton caused the mortgage mess. Clinton is the cause of everything that is currently wrong with America. :lol:



Awesomelyglorious
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23 Dec 2007, 7:25 pm

zendell wrote:
I agree Clinton caused the mortgage mess. Clinton is the cause of everything that is currently wrong with America. :lol:

My pizza is not cheesy enough, CURSE YOU WILLIAM JEFFERSON CLINTON!! !! :twisted:



monty
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24 Dec 2007, 10:46 am

Awesomelyglorious wrote:
zendell wrote:
I agree Clinton caused the mortgage mess. Clinton is the cause of everything that is currently wrong with America. :lol:

My pizza is not cheesy enough, CURSE YOU WILLIAM JEFFERSON CLINTON!! !! :twisted:


There was a farm bill that Clinton signed in 1997 that changed government policy towards dairy. This has since distorted the market, and caused all pizza manufacturers (except 1 small one in Vermont that charges an arm and a leg) to skimp on the cheese. Want more cheese? Vote Republican!!



</sarcasm>



monty
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26 Dec 2007, 10:23 am

Quote:
John Stumpf, president of Wells Fargo & Co., the second-largest U.S. mortgage lender and a survivor of the housing busts of the 20th century, blames today's crisis on unscrupulous lending practices, which joined in a toxic mix with outright greed and extraordinarily low interest rates to send house prices soaring 90 percent between 2000 and 2006. When the bubble burst, house prices collapsed by 5 percent to 20 percent in cities nationwide.

http://www.washingtontimes.com/apps/pbc ... 77982/1001



Odin
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26 Dec 2007, 2:44 pm

LOL, it's always funny when a right-winger goes on an "it's alway's the fault of Clinton or his penis" rant. :lol:

The mortgate crisis was caused by 2 things:

1. The Fed lowered interest rates too much during the recession following the popping of the Dot-Com bubble. The result was an unsustainable "jobless recovery" bubble economy powered by debt and real estate speculation.

2. Banks started selling their loans off as investments and thusly because less averse to giving loans to people sho whould of never gotten loans because the banks would just sell those loans to investors that would be the suckers.


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