The economy this week....
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The economy this week....
| Wed, 09-17-2008 - 2:06pm |
I have a very specific question about the sub-prime mess.
| Wed, 09-17-2008 - 2:06pm |
I have a very specific question about the sub-prime mess.
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one of the problems is the very fact that the loans are "cut up into little pieces" and sold.
In some instances, the company where the mortgage check gets sent is nothing more than someone who collects the money and sends it on to a bunch of other investment funds.
So up until they failed, were the risks considered small?
Banking and finance are not my strong suit, so I really can't help you with the mechanism of selling off mortgages.
(McCain and Palin):No plan? Then let's attack Barack and hijack his. That's not how a maverick leads, is it? lol.
http://www.users.csbsju.edu/record/2008/09/mccain-and-palin-favor-attacking-obama-over-developing-their-policy/
McCain and Palin favor attacking Obama over developing their policy
September 19th, 2008 by Tan Tuohy
In January, the victor of this year’s presidential race will inherit two wars (at least), a massive housing crisis, an economy plagued by rising gas and food prices and a tarnished international image.
These are the issues that are at the forefront of Americans’ minds, and instead of offering solutions to these problems, John McCain and Sarah Palin seem to be more concerned about attacking Sen. Obama with sophomoric half-truths.
The attacks began in full swing at the Republican National Convention in St. Paul, Minn., earlier this month.
While accepting the nomination for vice president, Palin took the opportunity to belittle Barack Obama’s years as a community organizer, instead of addressing a war-ending plan for Iraq or a solution to the housing crisis.
Other attacks, devoid of relevance, substance or truth, have become the staple of the McCain/Palin campaign as of late.
The most recent distraction from the issues has been the McCain campaign’s fixation on Obama’s “lipstick on a pig” comment.
When heard in context, it is obvious that Obama used the common expression when talking about McCain’s attempt to call his policies “change.” However, for the past week, all the talk has been about whether or not Obama called Palin a pig.
It is completely irrelevant. Obama was making a point with his analogy, but of course that is not what is being discussed.
Another recent personal attack launched by the McCain/Palin camp asserts that Obama championed a bill while in the Illinois state senate that would “teach comprehensive sex-education to kindergartners.”
That is a lie, yet McCain proudly approved the message.
To McCain, the fact that the bill was actually an effort to teach children at an “age appropriate” time about “inappropriate adult touching” doesn’t matter. He created yet another distractionfrom the real issues.
The fact is, McCain couldn’t care less about the truth. Though, if I voted with George W. Bush over 90 percent of the time in the past eight years, I would probably divorce myself from the truth as well.
This behavior has caused even Karl Rove, the man who has represented everything that is wrong with politics in the past eight years, to say that McCain has gone “too far.”
However, McCain has no choice but to continue this string of baseless personal attacks on Obama. If he were to talk about the issues, it would become all too clear that the problems facing this country right now are the direct result of Bush’s failed policies, which McCain has fully endorsed.
I completely agree with your post.
OHHHH!
You can say that again!
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