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Out of the Blue

Looks like the thunderstorms that have battered much of the country lately are still hanging around here today, and I think they are going to derail our plans. I guess that will work out for Hudson the wonder dog, as our presence will make this less miserable for her, though that's not to say she won't be miserable. Oh well.

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38. Re: Out of the Blue Aug 2, 2012, 22:17 Mr. Tact
 
RollinThundr wrote on Aug 2, 2012, 13:33:
Add in pressuring banks to give loans to anyone who wants one, even those that can't afford it, and there's your crisis in a nutshell.
Loans to unqualified borrowers were certainly part of the problem. However, as far as the "pressuring banks to give loans" -- I consider that hogwash. Even if it was true the government pressured banks into making loans they otherwise wouldn't have (which I'm not convinced is true) -- if the banks didn't want the loans, all they had to do was sell them to Freddie or Fannie. Poof! No issue for the bank.

Instead what happened is the government lowered the requirements. The banks saw an opportunity to make money and did everything they could to take advantage. Unfortunately, they weren't quite as smart as they thought they were. Eventually they and their wall street buddies painted themselves into a corner. And we, not they, ending up paying the price.

I think the Gitmo closure issue is a great example of "you never know what it is like to be President, until you are President." Which may or may not be obvious, but clearly some politicians don't get it. I would guess President Obama actually wants to close Gitmo. However, he has come to realize, it isn't that simple. Most things in politics rarely are.
 
Truth is brutal. Prepare for pain.
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