George Will on the sub-prime "crisis"

Topics: Housing
17 Dec 2007

From: Ervan Darnell

I try to always write something novel instead of just echo other people,
but I see George Will making the same point I did about Bush's bailout
plan, and then he adds this little insight I can do no better than copy:

> Speaking ill of lenders began when homo sapiens acquired language,
> hence it is unsurprising that many people who until recently were
> criticizing lenders for not making money available to marginally
> qualified borrowers are now caustic about lenders who complied.
> Clinton is fluent in the language of liberalism, aka Victimspeak, so,
> denouncing "Wall Street," she says families were "lured into risky
> mortgages" and "led into bad situations" by those who /knew/ better.
> So, lenders knew their loans would not be fully repaid?
> Jesse Jackson speaks of "victims of aggressive mortgage brokers." But
> given that foreclosure is usually a net loss for all parties to the
> transaction, what explains the "aggression"? Who thought it was in
> their interest to do the luring and leading that Clinton alleges?
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