Give No Fear to Media Angst, and remember the vote, Tax-payers!
From tcsdaily concerning Subprime Crisis:
"It might well be recalled that under the Home Ownership and Equity Protection Act, the Federal Reserve already had the authority to reign in the non-bank mortgage originators, who were the most culpable of bad lending practices. Yet, under Mr. Greenspan's leadership, the Federal Reserve chose not to exercise that authority as mortgage lending standards progressively deteriorated." Read More
Will Congress-left Stick a Subprime Solution Tax, on ALL Tax-payers?
Today, millions bit the illogical low-payment and faux-qualify catch; bringing my country to its darkest hour! The subprime crisis will be a part of history that never should have happened... But the rest of us who did not subscribe to scam-lending, might very well find the Democrat Congress using our tax dollars to pay for it...
America must come to terms and impact legislation to combat abuses in the mortgage lending market; and provide basic protection to legitimate mortgage consumers and investors. I'm here having locked into Wacovia (who, excluding the $1.7 billion loans they acquired) always required a cap...
I don't want to bail people out, and be the work-horse for consumers who ignored logic, and became casualty of these illogical lending practices... And I do want to clear the integrity of lenders who always looked out for the client's ability to pay, and housing industry's stability.
Many issues on the Democrat's plate, will come down to rejecting a failed system of Socialism, in order to protect Free enterprise.
You know what to do!