Alright, the latest attempt by the reich wingers to blame the dems

[Narkos]

Based on this story in the NYTimes from 1999
http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1

Any debunks of this?

[kirby]

1. Ralph Nader last night on Bill Mahr...

said that the people who borrowed as part of the Community Reinvestment Act had the highest rate of repayment than any other group!!! Try searching around for rate of repayment via CRA.

[kirby]

3. One more thing...

The CRA allowed people to use Fannie/Freddie INSTEAD of sub-prime lenders. My gut tells me that people are more likely to make their payments when their loan is 6% instead of 11%.

[rateyes]

2. The problem wasn't with the loans. The problem was with

the credit default swaps. Many people bet small amounts with potentially a huge payout that these loans would fail, and THEN they manipulated the market with speculation in the oil industry, etc. to cause inflation and loss of jobs to ensure that the loans would fail in order to collect on their bets.

It's as crooked as a barrel of fishhooks.

The Reich Wing can kiss my rosy red ass. They are stupid-ass fucks.

[Narkos]

4. Good point. All Fannie and Freddie

was say, hey we'll buy some of these subprime mortgages. They're not the ones who created the credit default swaps and pushed the risk on ill-informed investors. This article is making a lot of headway on the wingnutosphere, and we should probably address it.

[livelongandprosper]

5. Here you have it

Home Ownership and President Bush

http://www.youtube.com/watch?v=kNqQx7sjoS8

[Narkos]

6. Nice! Link's going straight to my libertarian friend

who thinks Bill Clinton is the source of all evil