Posts tagged as:

Sub-Prime Mortage Crisis

The Next Shoe To Drop

September 30, 2009

As we all know, the beginning of last year’s recession was triggered by a series of events, including the failure of two quasi-government agencies, Fannie Mae and Freddy Mac, precipitated by the over-abundance of sub-prime mortgages given to people who had no capability of paying them back.  A year later, it appears that we have [...]

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Senate Passes Bailout – America on Path to Socialism

October 2, 2008

The Senate took the country one step closer to Socialism yesterday by passing the now $824-billion dolleditar bailout package in a 74-25 vote.  In addition to the $700-billion figure proposed by Paulson, the package now contains an extension of the FDIC insurance cap from $100,000 $124 billion in “sweeteners” to help win over congressional votes:  A [...]

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Blame the Democrats for Fannie Mae and Freddy Mac

September 30, 2008

  These are your culprits, America,  The Sub-prime Mortgage Crisis is the fault of the Democrats.  It all started with the Community Redevelopment Act of 1975, which was desinged to force banks to give low-income housing to those who could not afford it.  For the first 20 years of its existence, however, it was not highly enforced.  Author Dan [...]

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