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J
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 Posted: Sat Oct 25, 2008 7:48 am Post subject: How Crackpot Egalitarianism Caused the Sub-Prime Mortgage Cr |
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Must reading for any one who encounters an 'egalitarian'.
http://www.lewrockwell.com/dilorenzo/dilorenzo154.html
How Crackpot Egalitarianism Caused the Sub-Prime Mortgage Crisis
by Thomas J. DiLorenzo
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J Young
Jvisions@live.com
Owner of Eric F Berg aka 'LC'
* here's the entire collection of efberg73@hotmail.com
http://tiny.cc/6hl5F
Obama/Biden '08 |
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John Baker
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| Posted: Sat Oct 25, 2008 7:48 am Post subject: Re: How Crackpot Egalitarianism Caused the Sub-Prime Mortgag |
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On Fri, 24 Oct 2008 22:57:59 -0400, "J" <Jvisions@live.com> wrote:
| Quote: | Must reading for any one who encounters an 'egalitarian'.
http://www.lewrockwell.com/dilorenzo/dilorenzo154.html
How Crackpot Egalitarianism Caused the Sub-Prime Mortgage Crisis
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While there are many terms that might fittingly describe the real
estate business, 'egalitarian' would likely not be one of them. |
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Auntie Lib
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| Posted: Mon Oct 27, 2008 6:43 pm Post subject: Re: How Crackpot Egalitarianism Caused the Sub-Prime Mortgag |
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On Oct 24, 7:57 pm, "J" <Jvisi...@live.com> wrote:
How J Lies:
| Quote: | How Crackpot Egalitarianism Caused the Sub-Prime Mortgage Crisis
by Thomas J. DiLorenzo
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I know you're a simple-minded idiot and can't understand anything
deeper than simple arguments but this is simple-minded bullshit, even
for you.
Subprime mortgages are a very small part of the problem. If we had a
strong economy we wouldn't be worried about those mortgages. With
credit available, people would simply re-finance and lower their
payments instead of defaulting. There were many things that led us to
where we are now not just one thing. Such as bundling those mortgages
into securities and then selling them at reduced rates so that the
buyers were unaware of what was in them. Allowing Lehman Brothers and
Fannie Mae and Freddie Mac to raise their debt-to-asset ratios from 2-
to-1 to about 50-to-1! They were selling securities with nothing to
back them. And then they sold insurance on those securities. And the
insurance had nothing to back it up.
It's a mess caused by greed and bad business practices bolstered by an
administration out to do everything in its power to help businesses
"succeed."
Well done, Dubya.
elizabeth
aa#2098
EAC Director of Useless Endeavors
Vice-Chairman Of The Committee On Wasted Time
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
"I was born with a skeptical mind. Now I ask you, is that fair?
If God gives me a skeptical nature and you an accepting one, then
you're going to be a believer and I'm not. If belief is a ticket to
eternal happiness, I'm definitely handicapped. God gives me a mind
capable of asking questions and what? I'm damned if I use it?"
F. Paul Wilson "The Haunted Air"
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