En Tequila Es Verdad/progressive conservatism/post/2009/05/22/1221

May 22, 2009 12:21 PM - Mike
Mike at The Big Stick said...

I think Coulter is talking about the people in Hollywood and their private lives more than the movies. As for Clinton and the loans, Clinton has admitted himself thathe caused part of the problem, in hindsight. And as to how this started, it was at least partially the Dems fault. From Tyler Cowen: ''“As much as 70 percent of recent early payment defaults had fraudulent misrepresentations on their original loan applications, according to one recent study. The research was done by BasePoint Analytics, which helps banks and lenders identify fraudulent transactions; the study looked at more than three million loans from 1997 to 2006, with a majority from 2005 to 2006. Applications with misrepresentations were also five times as likely to go into default. Many of the frauds were simple rather than ingenious. In some cases, borrowers who were asked to state their incomes just lied, sometimes reporting five times actual income; other borrowers falsified income documents by using computers. Too often, mortgage originators and middlemen looked the other way rather than slowing down the process or insisting on adequate documentation of income and assets. As long as housing prices kept rising, it didn’t seem to matter. In other words, many of the people now losing their homes committed fraud.”''The CRA contributed to this.

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May 22, 2009 12:24 PM - Mike
Mike at The Big Stick said...

...but until you solve that problem, STFU about having enough resources for everyone, ok?Let's try to remember to be polite, shall we? source