Those who don’t learn from history are bound to repeat it… Barack Obama pushes sub-prime mortgages… again!
There’s something macabre about an imminent train wreck, you know exactly what is coming but you can’t help but watching. Now imagine that instead of watching that train wreck from atop a building a safe distance away, you’re standing right between the train and the tanker truck that has stalled on the tracks. That’s a different story all together. At that point, rather than being | Read More »
A Tale of Four Countries- Part 4: Canada and Banking Reform
There is nothing new in the fact that Canada has been held up as a model for banking reform. During the height of the crisis and in its aftermath when reform was debated, many economists were looking to where there was limited financial disruptions and Canada and, to a lesser extent, Australia were cited. In fact, among international watchdogs of the financial sector and banking, | Read More »
Sub-prime lending has nothing to do with coming recession
Again, Dodd’s, Frank’s and (President-Elect) Obama’s hands were all over this part of the collapse in the markets. Akin to the bonfire embers that set off the California wildfires…let us not forget!Bernanke Admits a Boo Boo The mortgage meltdown started in the United States in the summer of 2007 and rapidly spread to other countries, as well as to other types of lending, affecting even | Read More »
Paulson: We need this to be clean and quick
“Clean and quick”Are you scared? You should be.For the government to do anything “clean and quick” should send a shudder down the spine of every conservative in the country…especially when that something has the potention to cost the taxpayer $700 billion and involves what is essentially the federal government commandeering the entire mortgage industry.The bailout of the lending industry violates essentially every conservative principle that | Read More »