Is anyone else mad?

[Pipe_Dream]

Originally Posted by willy

Sorry about your news Spare, hope things come around for your wife, she is in my prayers.
The rest of you fellows make good points and there is truth in all of it. But you are also doing what good men do when they discuss tough times, they bring it back on themselves.
We should save more, we should use less credit, all true.
But WE are not the problem.
When you guys get the chance I would like for you to go to Mark Levin . com and pull up a transcript of his radio show this past friday.

Spare, I hope and pray that things will improve for you and your family.

Willy, the website is
http://marklevinshow.com/

I don't hear his show in this area, but I've heard good things about him.

There should be an investigation into the mortgage meltdown, allright, and the target should be CONGRESS. They started the banks down this road, mandating that mortgage requirements be loosened so that ANYONE could get a mortgage, even those with no job. It's called the Community Reinvestment Act, and it was a boondoggle of epic proportions. Then they said to the banks, don't worry about these bad loans, we (via Fannie and Freddie) will buy them from you. Then F & F bundled them up and re-sold them as "mortgage securities," never mind that they were no good. It was Congressional regulation, not de-regulation, that is directly responsible for this. If you hear anyone claiming that de-regulation was the cause, look more closely because it's likely that the claimant is trying to cover his/her own culpability.