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2008-10-03 Home Front Economy

FLASH - The New York Times got something right - 9 years ago

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Posted by GolfBravoUSMC 2008-10-03 05:27|| || Front Page|| [2 views ] Top

#1 Go read Barry Ritholtz's blog, The Big Picture, if you can stand it. They're all up in arms that the racist Rethuglicans would DARE suggest that Fannie/Freddie got in trouble through making dicey loans to minorities. Ritholtz also said that Phoenix, San Diego, and Miami were "non-minority" cities. You have to wonder what planet he's been on. It certainly didn't have South Florida on it.

As for the New Yuk Times, I'm not surprised to see they got something right nine years ago. The question is whether they've gotten anything right since. I'd bet not...

Posted by Jolutch Mussolini7800 2008-10-03 09:02|| 2008-10-03 09:02|| Front Page Top

#2 Wow the NYTs reported this story. Who would have known they reported factual stories then.

Clinton administration pressured banks to make risky loans! The creeping socialism then is nothing compared to what will come under a Barack Hussein Obama administration.

Posted by JohnQC 2008-10-03 09:21|| 2008-10-03 09:21|| Front Page Top

#3 Ritholtz also said that Phoenix, San Diego, and Miami were "non-minority" cities. You have to wonder what planet he's been on.

Wrong minority in those cities.

Posted by lotp 2008-10-03 09:24|| 2008-10-03 09:24|| Front Page Top

#4 We have minorities in San Diego. Maybe not like Detroit or Newark...it's more brown than black. But the problem the way I saw it in San Diego was the skyrocketing price of homes...from half a million to a million for little cracker boxes, even while the developers and their pet politicians kept blathering about affordable housing. Nobody, minority or otherwise, could afford these places if they had conventional mortgages. The developers were in hog heaven running their damn bulldozers all over the place. They couldn't build 'em fast enough even with the cheap, illegal labor they were importing from south of here. Schools and hospitals were overcrowded, freeways were congested, police and fire protection were afterthoughts and now they're telling us we don't have enough water. I think also that there were a lot of speculators taking advantage of these exotic mortgages and jacking up the prices even further. I knew all along that it was all about greed and corruption and I knew it was a bubble that sooner or later had to burst. But only now am I beginning to see that it was nationwide. And it's ironic that the very people who were supposed to be helped by all this are the ones who are gonna suffer the most.

Posted by Ebbang Uluque6305 2008-10-03 12:55|| 2008-10-03 12:55|| Front Page Top

#5 And it's ironic that the very people who were supposed to be helped by all this are the ones who are gonna suffer the most

that is always the way of socialism...

Posted by Abu do you love 2008-10-03 13:15|| 2008-10-03 13:15|| Front Page Top

23:49 Flitch the Imposter aka Broadhead6
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