Comments on: Did Deregulation Cause the Subprime Crisis ? http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/ Sat, 22 Nov 2008 09:21:36 +0000 http://wordpress.org/?v=2.6.3 By: Da King http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2320 Da King Wed, 26 Mar 2008 07:12:38 +0000 http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2320 I think it ties in with the entitlement mentality too. It's the idea that one deserves everything and deserves it all right away. Then you have the government actually encouraging irresponsible financial behavior, such as the economic stimulus package, where Bush tells everyone to go spend their stimulus checks, keep shopping, etc. Now with the Fed's action to keep the economy from tanking, it will probably result in a higher inflationary cycle. John McCain made the same point as you today, when he said it wasn't the government's job to rescue speculators. It's about time somebody said that. This idea that everything is supposed to be risk free and subsidized is pretty inane when you think about it. I think it ties in with the entitlement mentality too. It's the idea that one deserves everything and deserves it all right away. Then you have the government actually encouraging irresponsible financial behavior, such as the economic stimulus package, where Bush tells everyone to go spend their stimulus checks, keep shopping, etc. Now with the Fed's action to keep the economy from tanking, it will probably result in a higher inflationary cycle.

John McCain made the same point as you today, when he said it wasn't the government's job to rescue speculators. It's about time somebody said that. This idea that everything is supposed to be risk free and subsidized is pretty inane when you think about it.

]]> By: Alexander D. http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2314 Alexander D. Tue, 25 Mar 2008 22:18:35 +0000 http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2314 This is definitely an area out of my realm of "expertise", but I'll give it a common-sense whirl and I think Vince started it out well. While it would be nice to follow the American "dream" of home ownership, it is not a birthright.............more so it is a responsibility. In this materialistic society, many attempt to keep up with the Jones' and never really examine their "means". I campaign for a smaller government, but it's quite obvious that others aren't responsible enough to go it on their own. Deregulation gave many the benefit of the doubt and allowed them to dig themselves into a deep ditch. As sad as it may seem, some people will never be capable of home ownership, sustaining a job, or leading an independent existence without "big brother" holding one's hand. Brings to mind a favorite movie, "Falling Down", when Michael Douglas was told that he was no longer "economically viable". We have a vast segment of the population which is so. They continue to bite off more than they can chew and, at the same time, bought into the fallacy that their "perfect" job would always exist. Heaven forbid a conservative approach that considered in a parachute strategy! Should one fall into financial woes, it is not our governments responsibility to provide life support. This merely weakens the grid and unfairly places the burden upon the viable. We're in desperate need of re-regulation and, until that happens, foreclosures will be proportional to a roll of the dice. This is definitely an area out of my realm of "expertise", but I'll give it a common-sense whirl and I think Vince started it out well. While it would be nice to follow the American "dream" of home ownership, it is not a birthright………….more so it is a responsibility. In this materialistic society, many attempt to keep up with the Jones' and never really examine their "means". I campaign for a smaller government, but it's quite obvious that others aren't responsible enough to go it on their own. Deregulation gave many the benefit of the doubt and allowed them to dig themselves into a deep ditch. As sad as it may seem, some people will never be capable of home ownership, sustaining a job, or leading an independent existence without "big brother" holding one's hand. Brings to mind a favorite movie, "Falling Down", when Michael Douglas was told that he was no longer "economically viable". We have a vast segment of the population which is so. They continue to bite off more than they can chew and, at the same time, bought into the fallacy that their "perfect" job would always exist. Heaven forbid a conservative approach that considered in a parachute strategy!

Should one fall into financial woes, it is not our governments responsibility to provide life support. This merely weakens the grid and unfairly places the burden upon the viable. We're in desperate need of re-regulation and, until that happens, foreclosures will be proportional to a roll of the dice.

]]> By: Da King http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2293 Da King Tue, 25 Mar 2008 01:41:12 +0000 http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2293 angryc, I heard Hillary blame the whole thing on Bush today, and never once did she mention that it was her husband who helped pave the way for the subprime crisis in 1995 and 1999. What a shocker, eh ? I don't know how these pols keep a straight face when they speak. You have it right. Both parties are to blame. Both rode the housing bubble wave and bragged about how great they were. This mess makes me wonder if anybody really understands the economy. The government reaction thus far seems to be to try anything and everything in the hope that something works. angryc,
I heard Hillary blame the whole thing on Bush today, and never once did she mention that it was her husband who helped pave the way for the subprime crisis in 1995 and 1999. What a shocker, eh ? I don't know how these pols keep a straight face when they speak.
You have it right. Both parties are to blame. Both rode the housing bubble wave and bragged about how great they were.
This mess makes me wonder if anybody really understands the economy. The government reaction thus far seems to be to try anything and everything in the hope that something works.

]]> By: Da King http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2292 Da King Tue, 25 Mar 2008 01:31:08 +0000 http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2292 Rev, Congrats, you got everything wrong. Home ownership has risen steadily and peaked at the end of 2004. 2007 is still above 1993 levels. http://www.census.gov/hhes/www/housing/hvs/historic/histt14.html And I did not blame deregulation primarily on Democrats. I don't even know where you got that idea from. Both parties have done it. I expect you are just miffed that Democrats were involved, as I'm sure you'd rather blame it all on Republicans, even though that would be a lie. Sorry, but the truth is the truth. Next time you accuse me of inaccuracy, it might be helpful if you bring some evidence of it. Rev,
Congrats, you got everything wrong. Home ownership has risen steadily and peaked at the end of 2004. 2007 is still above 1993 levels.

http://www.census.gov/hhes/www/housing/hvs/historic/histt14.html

And I did not blame deregulation primarily on Democrats. I don't even know where you got that idea from. Both parties have done it. I expect you are just miffed that Democrats were involved, as I'm sure you'd rather blame it all on Republicans, even though that would be a lie. Sorry, but the truth is the truth. Next time you accuse me of inaccuracy, it might be helpful if you bring some evidence of it.

]]> By: angry conserv http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2291 angry conserv Mon, 24 Mar 2008 19:59:59 +0000 http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2291 Selfserving politicans from both sides of the aisle are culprits. Many of the Reps. and Dems were pushing and threating the lenders unless they opened the piggybank to those that were at high risk. Yes, the greed overcame the system but libs were able to feel so smug in their claims of elimainating discriminatroy practices and Bush constantly used the increase in home ownership as a sign of his stewardship. The politicans now use this as a tool to blame one another but neither will take any responsiblity. Countryside the darling of the feel good mortgage era won every groups lender of the year award throughout this debacle. The very type of company they lauded as breaking through the barriers of discrmination is now one of the evil corporations. There is only one group that will not suffer from this fiasco and that is the a-holes that run our country and be assured that some of them will profit from the decisions they make concerning the attempts to bolster the markets. Selfserving politicans from both sides of the aisle are culprits. Many of the Reps. and Dems were pushing and threating the lenders unless they opened the piggybank to those that were at high risk. Yes, the greed overcame the system but libs were able to feel so smug in their claims of elimainating discriminatroy practices and Bush constantly used the increase in home ownership as a sign of his stewardship. The politicans now use this as a tool to blame one another but neither will take any responsiblity. Countryside the darling of the feel good mortgage era won every groups lender of the year award throughout this debacle. The very type of company they lauded as breaking through the barriers of discrmination is now one of the evil corporations. There is only one group that will not suffer from this fiasco and that is the a-holes that run our country and be assured that some of them will profit from the decisions they make concerning the attempts to bolster the markets.

]]> By: Ben Keeler http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2290 Ben Keeler Mon, 24 Mar 2008 19:17:01 +0000 http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2290 Schumer is probably my least favorite Democratic Senator. Schumer is probably my least favorite Democratic Senator.

]]> By: The Reverend http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2289 The Reverend Mon, 24 Mar 2008 17:58:15 +0000 http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2289 "Deregulation resulted in the huge increases in home ownership that we have today, by allowing low and moderate income people to purchase their own homes." Home ownership, currently, is below 1993 numbers. Not sure whether "huge increases" is actually appropriate but with your post primarily pointing out that Democrats are the deregulating champions of today's financial industry, honest attempts at accuracy, I suppose, are unwarranted. "Deregulation resulted in the huge increases in home ownership that we have today, by allowing low and moderate income people to purchase their own homes."

Home ownership, currently, is below 1993 numbers. Not sure whether "huge increases" is actually appropriate but with your post primarily pointing out that Democrats are the deregulating champions of today's financial industry, honest attempts at accuracy, I suppose, are unwarranted.

]]> By: James http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2288 James Mon, 24 Mar 2008 15:38:56 +0000 http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2288 This story was right on. I've been in the mortgage banking business for 20 years. The indusrty is currently "self regulating". This story was right on. I've been in the mortgage banking business for 20 years. The indusrty is currently "self regulating".

]]> By: Ghost of Vince Foster http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2287 Ghost of Vince Foster Mon, 24 Mar 2008 11:17:02 +0000 http://www.ohiomm.com/blogs/da_kings_men/2008/03/24/did-deregulation-cause-the-subprime-crisis/#comment-2287 King, Freedom is a two edge sword. It opens up great possibilities but it takes its toll on the stupid, the reckless, the unlucky. Liberals [leftists] use the relatively few who fall by the wayside of the road of freedom as an excuse to enslave everyone else on their plantation of government dependency. You see, to the sick liberal mind, the nanny state is required so NOBODY gets hurt. And of course, such a totalitarian enterprise as the nanny liberal state must be run by enlighten ones such as themselves. Sorry, no sale. King,

Freedom is a two edge sword. It opens up great possibilities but it takes its toll on the stupid, the reckless, the unlucky.

Liberals [leftists] use the relatively few who fall by the wayside of the road of freedom as an excuse to enslave everyone else on their plantation of government dependency.

You see, to the sick liberal mind, the nanny state is required so NOBODY gets hurt. And of course, such a totalitarian enterprise as the nanny liberal state must be run by enlighten ones such as themselves.

Sorry, no sale.

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