All of the bad loans given to first time buyers and brokered by libs
that sold to those that didn't have a valid ID or work history.
When they vaporized and left the bank with the worn home, the housing
market fluttered and slid. Is there any reason not to think this is the
case when Fanny and Freddy were given below cost money and sold higher
and made money left and right and sold blocks of homes to lots of companies.
Government backed loans that went sour.

Makes you wonder why the junk bond types got into this and caused a failure.

Hum.

Martin

Martin H. Eastburn
@ home at Lions' Lair with our computer lionslair at consolidated dot net
TSRA, Endowed; NRA LOH & Patron Member, Golden Eagle, Patriot's Medal.
NRA Second Amendment Task Force Charter Founder
IHMSA and NRA Metallic Silhouette maker & member.
http://lufkinced.com/


Hawke wrote:
The Dow Jones index dropped over 500 points today leaving the market at it's
lowest point since 2005. Lehman Brothers investment bank declared
bankruptcy. Bank of America bought Merrill Lynch and AIG is on the verge of
bankruptcy too. Wachovia or Washington Mutual banks may be the next shoes to
drop. The result of all these financial disasters is that the country's
financial markets are in turmoil and money is being lost in massive amounts.
All of this can be laid at the feet of the deregulation of the financial
markets that is at the heart of the economic philosophy of the republican
party. The Bush administration made a decision to let the markets regulate
themselves ever since taking office. Now we see the results of no
regulation. A bear market on Wall street, a credit crisis, a real estate
crash, and now the financial markets falling apart. After all this, some
people still want to put republicans back in power come November. John
McCain doesn't know much about economics, according to him, but he is a
believer of deregulation of markets. Can the country afford another leader
that thinks "hands off" the markets is the way to operate? Forget about
Palin. Do we want more republicans at the helm of America's economic ship?
You'd have to be crazy to let those people stay in charge of our money and
financial institutions. The answer is simple; No More Republicans.

Hawke




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