| Did anyone else notice that the term "sub-prime mortgage" was never heard of until the democrats and the media started parading it around? |
I'm still trying to figure out why having a mortgage at a rate lower than prime would even be an issue??
Oh, wait, I know why -- because these mortgages weren't so much 'sub-prime' as they were 'interest only' or 'balloon' payment mortgages that left the home buyers paying for homes they never should have been in, unable to actually make those big fat payments when they were supposed to.
The people that should have been hurt by sub-prime mortgages, and should really be the only ones hurt currently, were the mortgage companies that were handing them out like a pedophile tries to hand out candy to young kids. These companies made bad loans. They knew it going in, but they did it anyway because they were far more concerned about profiting now, rather than worrying about whether they'd ever see the money later. If the mortgages failed, they figured that the government would come in and make things right, which is exactly what the clueless one seems to be calling for.
He continues to amaze me. He cries that we are spending too much and not taking enough in, but then demands that we hand out more, more, more. Where the frack does he think all of that money will come from? Oh, wait, in liberal-land we get money out of thin air, right?
