Off-Topic: An inconvenient truth about the meltdown

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	Name:	MartiniMan -
	Subject:	An inconvenient truth about the meltdown
	Date:	10/18/2011 9:59:22 AM

Here are some sad facts about what caused the mortgage meltdown and why the Wall St. protesters have got it all wrong and should be protesting at 1600 Pennsylvania Avenue and the Capital instead of NYC.

In 2008 there were 27 million subprime mortgages or 50% of all mortgages. The highest before then was less than 30%. Why? HUD forced Fannie and Freddie to increase their holding of subprimes to over 50% (and this was HUD under Clinton and Bush although Bush only added a few % points).

Of all the subprime mortgages, the government originated 70% of them and the evil banks only originated 30%. More importantly, they were forced to increase their exposure to subprime loans by the government. So even their 30% was a result of government mandates.

If you want the truth read the paper below. It is only 100 pages but it is filled with facts that run contrary to the Dem talking points and Oblamer's apparent reelection strategy which of course is being dutifully carried by the sycophantic government media. Sadly for them, they no longer can control the truth and it will come out during the election. Whether the American people are too dumb, lazy or ideologically blind to accept the truth is another matter. We know that for sure 30% fall into that category.

BTW, will be in NYC at a CEO meeting this week. I have no plans to see the demonstration since out of a city of 16 million people they can only seem to gather a few hundred parasitic malcontents. The cold weather is coming and they will fade back into the shadows like the vermin they are.

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An inconvenient truth about the meltdown - MartiniMan - 10/18/2011 9:59:22 AM

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