Quote:
Originally Posted by pocketkangaroo
The forced loans weren't the problem. Only 1 of the top 25 subprime lenders in this country were under the CRA umbrella. The subprime problems came from financial companies that weren't treated as banks and thus not forced to lend to anyone. The CRA thing was just a debunked talking point put out to blame the mess on poor blacks. It's laughed at by just about every economist and financial analyst.
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Even if I was willing to accept every single left wing talking point about the origins of the problem I will never agree that massive deficit spending and a huge increase in the size of government is the answer. Trying to re-inflate the credit bubble through massive government spending increases is a suicidally stupid path.
Obama is using the crisis to push through a massive expansion of government spending and programs at the worst possible time. It is criminally irresponsible. Fiscal discipline is the answer.