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Name:
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Julio
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Subject:
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Intresting read.you decide
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Date:
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5/6/2008 6:54:15 PM
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Gabby, a couple of other points on your post, and please note that I am an Independent that votes for Democrats and Republicans on a pretty even basis:
1. You can't have your cake and eat it, too. If you want to give Ronald Reagan all the credit in the world for the prosperity of the 80's acheived with a Democratic Congress for 6 of his 8 years in office, you have to give the same credit to Slick Willie, and the same blame to W. The presidency ain't irrelevant.
2. Whether you want to admit it or not, W's foreign policy has contributed to the spike in gas prices. Notice that I say "contributed", not "solely to blame". Whether you agree with his policy or not, the pot is definitely stirred up in the Middle East and Venezuela right now. That affects gas prices. (By the way, I agree with all of you that Hugo Chavez can go to Hell. So don't bother accusing me of being a "Chavez sympathizer") Not real sure which laws you are speaking of passed by the Dem's in the last 16 months that have caused the gas price increase. I'll be the first to scream that they haven't done a thing themselves to help it, though.
3. As to the mortgage crisis, I don't see how you can blame the democrats any more than republicans. If there is any government inaction to blame, it happened about five years ago when all of these insane mortgage lenders were allowed to structure these crazy loans that barely paid 30% of the interest due for the first three to five years, and then came due on a huge balloon payment. If anybody had the power to regulate those mortgages at the time they were being made, it was W and the Republican Congress. However, we all know that the word "regulation" is profanity in Republican circles. By the way, I am apparently one of the few people that will say both the lenders and the borrowers that participated in those insane mortagage structures are equally to blame. The democrats want to say the borrowers are all victims, as though they had no idea of what the mortgage terms were when entering the mortgage
3. The 1.2 trillion drop in home equity is directly related to the mortgage crisis. Lending standards have now been tightened, and appraisal standards have become very restricted in the process. If this equity loss is to be blamed on the mortage problem, then see note #2 above regarding inaction of the Republican Congress. By the way, I'm one of those equity victims, as well. I wanted to do some remodeling on my house myself last month, and discovered that my new appraisal was less than it was three years ago. The Lender wanted me to take out a "signature loan", have the renovations done, then come back and refinance. No thanks.
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