Why did we invade Iraq? WMD's and an asshat in power. You can say the Bush administration lied about WMD's but we knew they had them because in the 80's we played both sides of the Iran Iraq war. We love to play power broker in the middle east, it’s easy to get oil and manipulate the Arabs into changing production to adjust the supply and price of oil. It has always been in America's interest to keep the region a mess.
Regan and WMD's.
More WMD info.
80's Iraq support.
The housing market bubble that burst lays mostly on democrat policy and lack and deregulation. The result of Clinton era ideology to allow people to but homes without proper valuation, verification of income, etc. It was a case of you can burrow greater than the ~%40 of your income from monthly payment. The mortgage lenders and banks took advantage of the situation; they didn’t break the rules or laws. The offered shitty products, interest only loans, balloons, ARM’s, they played by the rules of capitalism.
The Idea of corporate greed is silly, people complain about paying higher interest rates, and the cost of debt. But they don’t complain when their retirement and investments yield high interest rates.
http://www.factcheck.org/2008/10/who...conomic-crisis
www.govtrack.us/congress/bills/109/s190
http://clinton6.nara.gov/1993/12/199...ubin.text.html
http://www.gpo.gov/fdsys/pkg/FR-1995...503.pdf#page=1
http://blog.heritage.org/wp-content/...sis-report.pdf
It boils down to two things
- The government has been on the shady, and won’t admit it. A vast majority of the county is ignorant to this, we have always played favorites where we shouldn’t sometimes it works in our favor but other times it fails.
- The second is on the ignorance of the borrowers. The people signing the mortgage papers didn’t read or understand what they were buying, I am certain a vast majority of the lenders asked if they had question, and would have answered them if asked. But the lack of scrutiny and guidelines is the result of Clinton era policy, and slow action to clamp down or solve the problems. Companies and banks ties to mortgage backed securities and products got burnt by buying a portfolio with a large portion of subprime mortgages, and the burrowers default on them.
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