Posted in xn--kfs74mzzid01b.com edit by mike on January 8th, 2009
Cox and Paulson should be fired. McCain wants Cox fired, not sure about Paulson. Paulson is a Democrat, which explains a lot.They were at the "helm" when the crisis surfaced. The problem has been looming for more than 15 years. It is really a political crisis because in 1977 and again in 1999, the congress and the president signed it, a bill to make it much easier for people with bad credit to buy a home. This was suppose to "even out the playing field" for minorities.
In an attempt to allow home purchases, the Savings and Loans and Banks artificially increased the value of the home so that it appeared that a 20% difference in Selling Price VS Loan Value existed. When the value of homes decreased rather than increase HERE IS THE CRISIS
The culprits are the Senators who introduced these bills.I agree completely. And another thing people dont seem to realize is that they are also responsible for the high gas prices throughout the spring and summer. Speculators were manipulating the price of oil on the commodities market and making billions at the expense of every American Citizen, while the SEC just sat on its *** and did nothing. Once Congress finally stepped in and decided to do somthing about it, the price has been dropping ever since and should even out to where it should be#If you have any other info about this subject , Please add it free.# |
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