Just the facts, maam

People are blaming CEO's for the current crisis, along with mortgage brokers and banks.. But look at the facts. They tell a far different story.  It's a story of American greed; where people believe that they deserve to own a home that they cannot afford.  When brokers told people that they cannot afford the home they'd like to buy, the people said them they don't care, that if they don't give them the mortgage, another broker would.  That's why we're in this mess, because the American people don't understand fiscal discipline.  The Baby Boomers, aka the "me generation," didn't care about what they could or could not afford and passed that lack of discipline to their children, and so on. 

 

Now Americans average over $10k in credit card debt alone.  Is that Wall Street's fault?  Is that a mortgage broker's fault?  Americans consume more than half of their meals outside the home.  That's right, no one cooks anymore; they spend tons of money eating out and gaining weight to boot!  Is that Wall Street's fault?  Is that a mortgage broker's fault?  Americans drive cars 3 years old or less in numbers never seen before in America.  Everyone wants to have a new car even if they cannot afford it.  Is that Wall Street's fault?  Is that a mortgage broker's fault? 

 

Too many Americans are greedy.  Those who have gotten in over their heads are in deep trouble, regardless of the mortgage brokers and people like community organizers in groups like ACORN  who help people get loans they cannot afford (Barack Obama did this when he worked for ACORN as a community organizer).

 

And let's not forget the government.  YouTube is full of videos from the 2004 Congressional hearing where accountants requested an investigation of Fannie Mae & Freddie Mac for backing loans that people couldn't afford.  Watch the videos and see Congress members Barney Frank, Maxine Waters, etc. tell the accountants that Fannie Mae was fine and an investigation was not necessary.  Next Google the 2005 Senate bill backed by John McCain that Democrats blocked from leaving committee for a floor vote.  That bill called for stricter regulations governing the loan practices of Fannie Mae and Freddie Mac and warned of financial disaster.  But Obama and Nancy Pelosi blame McCain for deregulations.  Idiots.  Go check the facts.  Go read the bills.  Go watch the hearings. Go see the facts before you vote.

 

Facts.  They're an amazing thing!