AAARG-Even Smart Dems let this Repub talking point about franny/freddie through...

[lxlxlxl]

Making housing affordable is NOT what made the economic mess what it is. It is incredible bullshit to make that statement, and almost every single time I've heard this on TV (just now by George Will on ABC) smart Dems and commentators let them get away with it.

This crisis is not just about F&F, and the only reason the Republicans are mentioning it is because it is a political strategy. The crisis is about BANKS, INVESTMENT BANKS, and BOND RATING AGENCIES. Blaming it on F&F is just like making the Iraq war about "Defending Saddam"...watching it happen is making me sick.

First , poor people HAVE NOTHING TO DO WITH THIS ECONOMIC CRISIS. Importantly, individual home byers did not package and trade their loans as securities and allow banks to stack bad loans ontop of good loans so that THE BANKS CAN MAKE PROFIT trading them. Credit Derivative Swaps, Mortgage Backed Securities...these are what made the crisis a crisis. If someone wants me to explain it better I can try.

Also, we have NO IDEA how many subprime loans were given to first time buyers with no credit, and which subprime loans went to upper and middle class people that were in the business of "flipping" properties as investments, or second/third houses. I am cynical enough now to imagine that the "story" about subprime that we are allowing the Republicans to write is pure top-down "blame the poor" class warfare and YOU SHOULD BE PISSED

[BrklynLiberal]

1. You are right..and we must do all we can to counter all these RW lies.

Don't let them repeat them, uncontested, so much that people start to believe them...

[crazylikafox]

2. THANK YOU!! This Pub misinformation campaign has been making me nuts also.

I can't believe how everyone seems to be giving them a pass when they spout this shit. I suspect it's because it's a difficult subject to understand, so it's easier to just go along. BUT LETTING DEMS TAKE ANY BLAME FOR THIS ECONOMIC MESS IS A HUGE MISTAKE in my opinion. Because the economy will decide the election in the end.

If you could help explain the REAL CAUSE it would help Dems like us help educate the voters.

[NewJeffCT]

3. loans to low income families

have been around for decades - all of a sudden they caused a crisis? give me a break...

[calmblueocean]

4. I keep waiting for one of the major liberal bloggers to write a comprehensive defense to this

I've seen it done in bits and pieces, but what's really needed is a comprehensive FAQ that goes point by point saying what the right wing is saying and why it's untrue. I wish I knew enough to write that FAQ.

[BlooInBloo]

5. It's known....

http://www.stephenbainbridge.com/punditry/comments/they_make_you_embarrassed_to_be_a_conservative/

[dipsydoodle]

6. Perfectly correct

and the tragedy is that I'm sure both sides are spewing the lies that state otherwise.

[Green Mountain Dem]

7. Reagan...Clinton...Gramm....

nuff said!!