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AP: VP of Venezuela Has Announced Hugo Chavez has Died

What's the lie? I am asking.....:shrug: What's the matter? question too close to home?

l think you are one of those conservatives :2wave:
 
emprica ,l dont have any utopia because l know humans are selfish by nature .this utopia can never come true under current conditions .in fact this current condition has never changed since humans learnt to own private properties during agricultural period .

Before agriculture, the current conditions were "kill for what you want and keep moving". That second part communists failed.
 
l think you are one of those conservatives :2wave:


:lamo Really? :lamo And what does that mean? You mean a conservative that likes free markets, and the ability for anyone to make it? Yes, guilty.
 
:lamo Really? :lamo And what does that mean? You mean a conservative that likes free markets, and the ability for anyone to make it? Yes, guilty.

conservatives like conserving money ?

hewhe
 
Chavez was a devout Communist which indicates that he was most likely an atheist_
No he was a democratic socialist or a Bolivarian and with a bunch of other Latin American leaders came up with "Socialism for the 21st Century".

I think the giant cross in which he was displayed by and the times where he made religious out-marks proves that he was a catholic and at one point in his life he wanted to be a priest


It is the nation of Venezuela that is devout Catholic, which he feigned for political expedience_
Yea except your again making baseless claims which your so famous for doing


All communist revolutionaries and dictators are liars who believe the end justifies the means_
:roll:
More baseless useless claims

Like all Marxists, you are an idealist in search of an unsustainable utopian dream that invariably morphs into a stalinist style nightmare involving the usual theft, oppression, human suffering and political genocide_

(see signature below for clarification)
Yup more baseless claims
 
That's alright Maduro is being Called out.
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Venezuela opposition leader Capriles to stand in election.....

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Venezuelan opposition leader Henrique Capriles has confirmed that he will stand in presidential elections on 14 April.
In a televised address, Mr Capriles accused the governing PSUV party of manipulating the recent death of Hugo Chavez.

The opposition boycotted Mr Maduro's swearing-in on Friday, claiming that - under the constitution - the speaker of the National Assembly, Diosdado Cabello, should be the one to take over as acting president.

Mr Capriles - candidate for the umbrella opposition group Table for Democratic Unity (MUD) - called the move fraudulent.
On Sunday, he again accused the socialist PSUV of violating the constitution.

'Biggest mistake'

In his televised address on Sunday, Nicolas Maduro accused Henrique Capriles of inciting hatred, and said he was trying to provoke violence by insulting the late president's image.

"You have made the biggest mistake of your life," he said.....snip~

BBC News - Venezuela opposition leader Capriles to stand in election

Hope Capriles gets plenty of Security!
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Why would he need security?
 
Why would he need security?

Well for one Maduro is openly threatening him......which you see in that piece. Now there is more.....Right?

Capriles, Maduro at each other's throats in Venezuela election race

r


(Reuters) - Presidential candidates Nicolas Maduro and Henrique Capriles have begun Venezuela's election race with scathing personal attacks even as mourners still file past Hugo Chavez's coffin.

"I am not Chavez, but I am his son," Maduro told thousands of cheering, red-clad supporters as he formally presented his candidacy to the election board on Monday.

"I am you, a worker. You and I are Chavez, workers and soldiers of the fatherland," the former bus driver and union activist added after the crowd's emotions were whipped up by recordings of Chavez singing the national anthem.

The official mourning period for Chavez ends on Tuesday. However, the government extended a temporary ban on alcohol and carrying firearms through March 16.

Capriles, Maduro at each other's throats in Venezuela election race | Reuters

Because Maduro is a thug wannabe.....and thugs always resort to thuggish ways! ;)
 
1. THere has been an increase ECONOMY WIDE, meaning he's made more markets for investment, which is why manufacturing and commerce has gone up, when you take the oil money and build infastructure, get rid of poverty and so on, you make an economy where people can invest and build buisinesses internally, which has happened.

Not increased local consumption, increased demand. But even with these shortages, you still have major increases in living standards, btw, I don't agree with food price controls, I think there are better ways to deal with those issues.

As far as capital formation ...

Venezuela - gross capital formation

I think venezuela is doing pretty well, especially considering how it was DOING.

You're right about the added value source, I apologise for that. this source Manufacturing (value added) of Venezuela, 1970-2011 goes to 2011, and it shows that percentage wise manufacturing has gone down (as would be expected when you nationalize oil), but numberwise it's gone way up.

gross capital formation: Looking at only the nominal chart is completely misleading. Look at it as a % of GDP, and you'll see that it's way down. Not to mention this number is artificially inflated by the oil money and as their number one oil market starts requiring less oil imports (the US), they need to seriously ramp up other revenue sources to avoid serious economic problems.

As for manufacturing, I've said a thousand times; their manufacturing is dominanted by the public sector which is mostly financed by oil. But also I'd point out that it has stagnated over the last four years, despite large deficits. You still aren't disproving anything I say; which most importantly is that Venezuela strictly depends on oil revenue to finance it's economic growth and that it had seen relatively little to no private sector growth and very little private sector investment over the last 5 years.
 
Oh? Really? Check the CRA, there's your bubble....Demo created, demo nurtured, demo forced, then when it came tumbling down, demo disowned.

I don't care if it was the democrats or republicans, it was neo-liberals following Reagans financial deregulation policy that created it.

The CRA has nothing to do with it.

The bubble was created by deregulation allowing all sorts of externalities to build up and systemic risk, it was essnecially internal to Capitalism.
 
gross capital formation: Looking at only the nominal chart is completely misleading. Look at it as a % of GDP, and you'll see that it's way down. Not to mention this number is artificially inflated by the oil money and as their number one oil market starts requiring less oil imports (the US), they need to seriously ramp up other revenue sources to avoid serious economic problems.

As for manufacturing, I've said a thousand times; their manufacturing is dominanted by the public sector which is mostly financed by oil. But also I'd point out that it has stagnated over the last four years, despite large deficits. You still aren't disproving anything I say; which most importantly is that Venezuela strictly depends on oil revenue to finance it's economic growth and that it had seen relatively little to no private sector growth and very little private sector investment over the last 5 years.

No **** it went down, since GDP exploded when Oil was nationalized, but nominal is what is going to count when you have the whole GDP explode. Oil doesn't artificially inflate that because Oil isn't capital formation, it's money can be used for capital formation sure, but Oil in itself isn't that.

So what if manufactufing is financed by Oil, it's better that than foreign banks, also manufacturing means private and public which make profits.

Manufacturing hasn't stagnated, I've shown you statistics for that.

All you've shown is that Oil greatly increased the pie, and that even though everything else grew, they didn't grow as fast ... you havn't shown anything.

Also the private sector HAS grown Claims on private sector (annual growth as % of M2) in Venezuela (not that it makes a difference, growth in the public sector is just as good as growth in the private sector, economic activity is economic activity be it private, public or cooperative.)
 
No **** it went down, since GDP exploded when Oil was nationalized, but nominal is what is going to count when you have the whole GDP explode. Oil doesn't artificially inflate that because Oil isn't capital formation, it's money can be used for capital formation sure, but Oil in itself isn't that.

So what if manufactufing is financed by Oil, it's better that than foreign banks, also manufacturing means private and public which make profits.

Manufacturing hasn't stagnated, I've shown you statistics for that.

All you've shown is that Oil greatly increased the pie, and that even though everything else grew, they didn't grow as fast ... you havn't shown anything.

Also the private sector HAS grown Claims on private sector (annual growth as % of M2) in Venezuela (not that it makes a difference, growth in the public sector is just as good as growth in the private sector, economic activity is economic activity be it private, public or cooperative.)

Holy ****, for the fourth time, everything else grew STRICTLY BECAUSE OF OIL. Without oil, nothing else in their economy would get financed. What part of this are you not getting? Its not like they have any self-sustaining sectors. Shut down oil production for two months, and the countries GDP fell by 26% and manufacturing and construction by ~50%. I've shown you the chart, their GDP growth is nearly line on line with oil prices. Oil DOES inflate capital formation, BECAUSE IT IS THE ONLY THING FINANCING IT. What else is financing it? No foreign investment is being made in the country, and their capital formation is down below 20% despite required government loans and enormous amounts of oil revenue for investments to be made. The government was having to force banks at gunpoint to make loans to the private sector, and the country still had a ****ty rate of investment.

The point is, it isn't sustainable and entire thing is just waiting to collapse on itself.

Lol better than foreign banks? Um says who it has to be a choice? If they were playing smart, it would be an all of the above strategy.

That doesn't look at private sector growth. That looks at finance being made to the private sector. A majority of Venezuela's "private investment" is due to mandated loans handed out by the government, which must be at least 20% of all loans made. Which has been, of course, forced by the government.


But here, in case you were wondering. Something that actually deals directly with their manufacturing sector.



Industrial Production in Venezuela decreased 2.17 percent in December of 2012 over the same month in the previous year. Industrial Production in Venezuela is reported by the Banco Central de Venezuela. Historically, from 1998 until 2012, Venezuela Industrial Production averaged 2.4 Percent reaching an all time high of 183.5 Percent in December of 2003 and a record low of -64.9 Percent in December of 2002. In Venezuela, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for Venezuela Industrial Production

Venezuela Industrial Production

Wow, a grand total of 2.4% a year increase in manufacturing capacity. Round of applause :roll:
 
Holy ****, for the fourth time, everything else grew STRICTLY BECAUSE OF OIL. Without oil, nothing else in their economy would get financed. What part of this are you not getting? Its not like they have any self-sustaining sectors. Shut down oil production for two months, and the countries GDP fell by 26% and manufacturing and construction by ~50%. I've shown you the chart, their GDP growth is nearly line on line with oil prices. Oil DOES inflate capital formation, BECAUSE IT IS THE ONLY THING FINANCING IT. What else is financing it? No foreign investment is being made in the country, and their capital formation is down below 20% despite required government loans and enormous amounts of oil revenue for investments to be made. The government was having to force banks at gunpoint to make loans to the private sector, and the country still had a ****ty rate of investment.

The point is, it isn't sustainable and entire thing is just waiting to collapse on itself.

Lol better than foreign banks? Um says who it has to be a choice? If they were playing smart, it would be an all of the above strategy.

That doesn't look at private sector growth. That looks at finance being made to the private sector. A majority of Venezuela's "private investment" is due to mandated loans handed out by the government, which must be at least 20% of all loans made. Which has been, of course, forced by the government.


But here, in case you were wondering. Something that actually deals directly with their manufacturing sector.

First of all, that isn't the case, Oil production shuts down for 2 months and yeah it's a huge hit to the economy, shut down finance in the US see what happens. Even if Oil money is financing the rest of the economy, that's a good thing, i'ts better than than foreign investment or credit.

And guess what, as the others sectors of the economy grow it becomes less dependant on Oil, unlike before where the whole economy was dependant on foreign profits.

mandated government loans? show me a law that forces people to take out loans, that's absolute nonsense.

Venezuela Industrial Production

Wow, a grand total of 2.4% a year increase in manufacturing capacity. Round of applause :roll:

Capacity isn't the best way to measure it, since many countires have huge excess capacity.

The point is, you can trash the economy, but it is BETTER THAN BEFORE, and it's on the right path.

Venezuela Balance of Trade
 
First of all, that isn't the case, Oil production shuts down for 2 months and yeah it's a huge hit to the economy, shut down finance in the US see what happens. Even if Oil money is financing the rest of the economy, that's a good thing, i'ts better than than foreign investment or credit.

And guess what, as the others sectors of the economy grow it becomes less dependant on Oil, unlike before where the whole economy was dependant on foreign profits.

mandated government loans? show me a law that forces people to take out loans, that's absolute nonsense.



Capacity isn't the best way to measure it, since many countires have huge excess capacity.

The point is, you can trash the economy, but it is BETTER THAN BEFORE, and it's on the right path.

Venezuela Balance of Trade
Venezuela Unemployment Rate
 
First of all, that isn't the case, Oil production shuts down for 2 months and yeah it's a huge hit to the economy, shut down finance in the US see what happens. Even if Oil money is financing the rest of the economy, that's a good thing, i'ts better than than foreign investment or credit.

And guess what, as the others sectors of the economy grow it becomes less dependant on Oil, unlike before where the whole economy was dependant on foreign profits.

mandated government loans? show me a law that forces people to take out loans, that's absolute nonsense.

LMAO, you do realize that oil revenue depends on foreign capital just the same as foreign investment? What do you think is going when their biggest customer, the U.S., becomes energy independent and no longer needs to import Venezuelan crude? Are they just going to make up that 43% elsewhere? Please tell me exactly how their economy will expect to stay afloat.


"Mandatory mortgage portfolio" = required loans.
Venezuelan Government Increases Banking Sector


Capacity isn't the best way to measure it, since many countires have huge excess capacity.

The point is, you can trash the economy, but it is BETTER THAN BEFORE, and it's on the right path.

Venezuela Balance of Trade

ROFLMAO. You think Venezuela is having enormous shortages of just about everything and a huge dependency on imports because of EXCESS CAPACITY? :lamo:lamo:lamo:lamo:lamo

That might just take the cake as the worst argument I've heard in my life.

Also, you really need to stop posting sources that prove me right. In case you haven't noticed, their balance of trade is trending lower; consistent with a weak manufacturing sector, and requiring imports for a vast majority for basic goods and services. If you were to subtract oil exports, you'd be seeing next to zero exports and a huge reliance on imports.
 
LMAO, you do realize that oil revenue depends on foreign capital just the same as foreign investment? What do you think is going when their biggest customer, the U.S., becomes energy independent and no longer needs to import Venezuelan crude? Are they just going to make up that 43% elsewhere? Please tell me exactly how their economy will expect to stay afloat.


"Mandatory mortgage portfolio" = required loans.
Venezuelan Government Increases Banking Sector

Consumption is not investment, so exporting is not the same as being "dependant on foreign capital," Yeah they are going to make up that 43% overtime, as the economy grows.

Read the article, they arn't forcing people to take loans, they are forcing banks to offer loans, and low interest ... it's financial regulation to make sure it services the poorest in the country ... I think that is actually extremely good policy that would be good here in the US. It applies to state banks and chartered private banks (all banks are state chartered and insured, so no **** the state has a right to regulate) ... I love that, Chavez regulates the bank to make sure they offer low interest credit for low income housing and you claim "HE'S FORCING PEOPLE TO GO IN DEBT." Common now.


ROFLMAO. You think Venezuela is having enormous shortages of just about everything and a huge dependency on imports because of EXCESS CAPACITY? :lamo:lamo:lamo:lamo:lamo

That might just take the cake as the worst argument I've heard in my life.

Also, you really need to stop posting sources that prove me right. In case you haven't noticed, their balance of trade is trending lower; consistent with a weak manufacturing sector, and requiring imports for a vast majority for basic goods and services. If you were to subtract oil exports, you'd be seeing next to zero exports and a huge reliance on imports.

That isn't what I said, I said many countries ... like the US have excess capacity as a problem, i.e. tons of capital and no market, the fact that the opposite is the problem in Venezuela is a good thing, because it has plenty of space to grow.

I was responding to you talking about manufacturing capacity growth, not shortages, don't mix arguments.

Compare the balance of trade to before Chavez .... it's gotten BETTER.

Venezuela GDP Probably Grew 4 Percent in 2011 on Higher Federal Spending - Bloomberg

Non oil GDP up 4.3%, manufacturing up 3.5%, construction up 3.4%.

Better is better.
 
As a result, Mr Chavez bequeaths a nation beset by crumbling infrastructure, unsustainable public spending and underperforming industry.....snip~

"Venezuela is the fifth largest economy in Latin America, but during the last decade, it's been the worst performer in GDP per capita growth," says Arturo Franco of the Center for International Development at Harvard University.....snip~

In the words of Michael Henderson at Capital Economics: "The current malaise is the product of years of capital flight and under-investment, which has hollowed out the country's productive base.".....snip~

High inflation, still nudging 20% a year, doesn't help either....snip~

As survey organisation Consensus Economics says: "Soaring inflation and government spending - coupled with currency and capital controls - have created a widening fiscal deficit. Unless PDVSA's underperformance can be remedied, those debts will remain and will probably grow as the country's gap between spending and income widens......snip~

BBC News - Hugo Chavez leaves Venezuela in economic muddle

Seems all those Business and Economists didn't get it wrong.....From Harvard to the UK. All seem to read Venezuela for what it actually is. Seems all that hype about Chavez was just that.....Hype! ;)
 
I don't care if it was the democrats or republicans, it was neo-liberals following Reagans financial deregulation policy that created it.

The CRA has nothing to do with it.

The bubble was created by deregulation allowing all sorts of externalities to build up and systemic risk, it was essnecially internal to Capitalism.

Rewriting history doesn't help you....It was liberal/progressives following the Cloward/Piven strategy in housing, and still are. They're going to crash it again, along with education.
 
Rewriting history doesn't help you....It was liberal/progressives following the Cloward/Piven strategy in housing, and still are. They're going to crash it again, along with education.

What housing policy actually led to the crash .. I can show you the neo-liberal reforms that led to it (repealing glass-steagel, refusing to regulate derivatives, and so on).
 
What housing policy actually led to the crash .. I can show you the neo-liberal reforms that led to it (repealing glass-steagel, refusing to regulate derivatives, and so on).

Read the CRA dreamed up by Carter's administration, and put on steroids by Clinton, with Cloward, and Piven at the signing. Then go look up the hearing where the demo's were attacking the regulators for sounding the alarm, and Barney Frank proclaiming that all is fine, and Franklin Raines was near sainthood for his bilking the people for near $90 million and disappearing.

While the banks did turn piss poor mortgages into a casino, bundling knowingly misleading portfolios into trade instruments, what did you expect them to do in the face of being told that they MUST lend to people that they knew couldn't pay the debt? People that had NO income verification requirements? People that didn't have to do anything but say they were consultants and put down any figure that qualified for the half million dollar McMansion's and live the fraud they were signing. Then when it all crashes because these people were using they house as a revolving credit line and living WaaaaaaaY beyond their means, it somehow is the banks fault?

BULL!
 
Further Gacky, I am still trying to find a video of this hearing, but in 2004, here is a partial accounting of what was said by Demo congresscritters...

Maxine Waters: Through nearly a dozen hearings, we were frankly trying to fix something that wasn’t broke. Mr. Chairman, we do not have a crisis at Freddie Mac, and particularly at Fannie Mae, under the outstanding leadership of Franklin Raines. [Raines would barely avoid prosecution for fraud.]Gregory Meeks: … I’m just pissed off at OFHEO [the regulators trying to warn Congress of insolvency at the GSEs], because if it wasn’t for you, I don’t think we’d be here in the first place. … There’s been nothing that indicated that’s wrong with Fannie Mae, Freddie Mac has come up on its own … The question that then comes up is the competence that your agency has with reference to deciding and regulating these GSEs.
Lacy Clay: This hearing is about the political lynching of Franklin Raines.
Barney Frank: I don’t see anything in this report that raises safety and soundness problems.

Video: Democrats insist “nothing wrong” at Fannie Mae, Freddie Mac in 2004 « Hot Air

Youtube has scrubbed the video....I wonder who ordered that?
 
Here's one for you:



And then a few years ago Frank appears on O'Rilley....



And can't even take responsibility for his own words played....What a joke...You progressives must really think people are dumb.
 
Read the CRA dreamed up by Carter's administration, and put on steroids by Clinton, with Cloward, and Piven at the signing. Then go look up the hearing where the demo's were attacking the regulators for sounding the alarm, and Barney Frank proclaiming that all is fine, and Franklin Raines was near sainthood for his bilking the people for near $90 million and disappearing.

While the banks did turn piss poor mortgages into a casino, bundling knowingly misleading portfolios into trade instruments, what did you expect them to do in the face of being told that they MUST lend to people that they knew couldn't pay the debt? People that had NO income verification requirements? People that didn't have to do anything but say they were consultants and put down any figure that qualified for the half million dollar McMansion's and live the fraud they were signing. Then when it all crashes because these people were using they house as a revolving credit line and living WaaaaaaaY beyond their means, it somehow is the banks fault?

BULL!

I've read the CRA act, and the only thing in there applicable as that banks couldn't discriminate based on race or neighborhood, or redline, but they most certainly discriminated based on credit and income.

This had nothing to do with the CRA, banks made billions off this, what caused this was the securitization of mortages and credit default swaps and the lack of regulation on those, as well as glass steagal being taken apart.

The banks were NEVER forced to give anyone a loan who they normally would'nt give a loan based on income and credit, all they couldn't do was discriminate based on race or redline ... They still could deny people loans for economic reasons. (look at the actual CRA)

They wern't forced to do anything, they WANTED to make the billions that they did.
 
I've read the CRA act, and the only thing in there applicable as that banks couldn't discriminate based on race or neighborhood, or redline, but they most certainly discriminated based on credit and income.

This had nothing to do with the CRA, banks made billions off this, what caused this was the securitization of mortages and credit default swaps and the lack of regulation on those, as well as glass steagal being taken apart.

The banks were NEVER forced to give anyone a loan who they normally would'nt give a loan based on income and credit, all they couldn't do was discriminate based on race or redline ... They still could deny people loans for economic reasons. (look at the actual CRA)

They wern't forced to do anything, they WANTED to make the billions that they did.


Nonsense...That lie may serve you well in liberal circles that still believe that ACORN wasn't a fraud agency of thuggery for progressives in government, but not with rational people that saw what was happening....

The thousands of mortgage defaults and foreclosures in the "subprime" housing market (i.e., mortgage holders with poor credit ratings) is the direct result of thirty years of government policy that has forced banks to make bad loans to un-creditworthy borrowers. The policy in question is the 1977 Community Reinvestment Act (CRA), which compels banks to make loans to low-income borrowers and in what the supporters of the Act call "communities of color" that they might not otherwise make based on purely economic criteria.

The original lobbyists for the CRA were the hardcore leftists who supported the Carter administration and were often rewarded for their support with government grants and programs like the CRA that they benefited from. These included various "neighborhood organizations," as they like to call themselves, such as "ACORN" (Association of Community Organizations for Reform Now). These organizations claim that over $1 trillion in CRA loans have been made, although no one seems to know the magnitude with much certainty. A U.S. Senate Banking Committee staffer told me about ten years ago that at least $100 billion in such loans had been made in the first twenty years of the Act.


So-called "community groups" like ACORN benefit themselves from the CRA through a process that sounds like legalized extortion. The CRA is enforced by four federal government bureaucracies: the Fed, the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation. The law is set up so that any bank merger, branch expansion, or new branch creation can be postponed or prohibited by any of these four bureaucracies if a CRA "protest" is issued by a "community group." This can cost banks great sums of money, and the "community groups" understand this perfectly well. It is their leverage. They use this leverage to get the banks to give them millions of dollars as well as promising to make a certain amount of bad loans in their communities.


A man named Bruce Marks became quite notorious during the last decade for pressuring banks to earmark literally billions of dollars to his organization, the "Neighborhood Assistance Corporation of America." He once boasted to the New York Times that he had "won" loan commitments totaling $3.8 billion from Bank of America, First Union Corporation, and the Fleet Financial Group. And that is just one "community group" operating in one city — Boston.

Banks have been placed in a Catch 22 situation by the CRA: If they comply, they know they will have to suffer from more loan defaults. If they don't comply, they face financial penalties and, worse yet, their business plans for mergers, branch expansions, etc. can be blocked by CRA protesters, which can cost a large corporation like Bank of America billions of dollars. Like most businesses, they have largely buckled under and have surrendered to their bureaucratic masters.

The Government-Created Subprime Mortgage Meltdown by Thomas DiLorenzo

I remember when we bought our first house in 2004. The mortgage lender tried to have us look at these adjustable rate junk, and I refused, opting for the traditional 30 year fixed. As a result we were fine. And I am no financial genius or something, just a normal middle class American, that pays attention, and knows that sustained gains in real estate of 20% and more per year are not real. Now, instead of being truthful about what happened, progressives are lying through their teeth, and continuing to do what was done to housing in '08 and before, to other sectors including education....How many time do we have to repeat the failures of progressive Marxism before we say enough!
 
And yet another story of how progressives are doing it again....

Do you remember that thing about how the banks wouldn’t lend to blacks and Hispanics because they were racists? And do you remember how they passed the Community Reinvestment Act so that banks were forced to reduce down payments practically to zero and lend to a lot of people they knew were bad credit risks? And do you remember how Wall Street bundled all these risky subprime mortgages and sold them to investors around the world so that when it became clear that those people weren’t going to be able to pay their mortgages banks everywhere were left holding the bag and all five of the Wall Street investment houses either went under or had to be bailed out by the federal government?
And do you remember how, when it was all over, liberals said it was actually the banks’ fault for “deceiving” all those people into thinking they could afford to buy homes and that the banks should be punished for it and some of those people be allowed to keep their homes anyway? And do you remember how all this cost the government close to a trillion dollars and put the whole economy in a hole that we really haven’t begun to dig ourselves out of yet?
Well, get ready because the whole thing is about to happen again.
Yes, believe it or not, the federal government is now starting another initiative to force banks to lend to low-credit-rated blacks and Hispanics — not just anybody but specifically blacks and Hispanics — and is threatening — and already imposing — huge punitive fines if they don’t. Moreover, this time they’re going even further. They’re going to take over the credit rating agencies and force them to change their standards to accommodate blacks and Hispanics so that nobody will have any idea who is a bad credit risk and who is not. In so many words, the government is about impose its will on the whole home-lending market and force another round of bad loans so that the banks are going to be looted once again so that even the federal government may not be able to bail them out this time.

The American Spectator : And You Thought the Housing Crisis Was Over!

I am sure that when this round blows up again, the progressives will once again blame the banks, and re write history all over again....Round and round we go....

 
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