Housing Prices Down To 2004 Levels

[jlprk]

Okay, maybe I'm wrong. Tell me how Acorn caused the housing crisis. I haven't read everything. It is possible, though unlikely, that there was something in the news that my keen eye missed. So tell me how Acorn fits into the subject of this thread.

 

[jlprk]

By the way, BP, I think you have a conscience, which rates you above many Republicans, in my book.

You probably don't want to tell your Republican friends that you meet with my approval. Just between you and me. I won't tell them.

 

[Denny Crane]

Okay, maybe I'm wrong. Tell me how Acorn caused the housing crisis. I haven't read everything. It is possible, though unlikely, that there was something in the news that my keen eye missed. So tell me how Acorn fits into the subject of this thread.

I don't know where exactly he's getting the Acorn thing, though there is an indirect relationship.

W talked a lot about "ownership society" which encouraged people to buy property. The Democrats in congress blocked his attempts to put stronger regulations on Freddie and Fannie because those Democrats claimed (aligned with Acorn) that they wanted lower income people owning homes (that we now know they couldn't afford). So playing to their base (Acorn) is the indirect relationship.

 

[BLAZER PROPHET]

Okay, maybe I'm wrong. Tell me how Acorn caused the housing crisis. I haven't read everything. It is possible, though unlikely, that there was something in the news that my keen eye missed. So tell me how Acorn fits into the subject of this thread.

First, I didn't say "ACORN caused the housing crisis". I said that special interest groups like ACORN were a part of the problem. Or, played their part as lobbiest...

But here are some examples- BTW, I don;t necessarily buy into everything said but I do believe special interest & lobbiest groups played their part in the housing crisis.

http://www.chicagomortgagespecialis...acorn-caused-mortgage-crisis-and-bailout.html

http://sweetness-light.com/archive/thank-acorn-and-their-ilk-for-mortgage-crisis

http://www.americanthinker.com/2008/09/barack_obama_and_the_strategy.html

Anyway, there are a lot of articles pro & con written by good people on ACORN. My best understanding is that they, like many other special interest lobbying groups, pushed grossly unsound lending practices for minorities and other groups and put a lot of money and pressure to expand such practices and influence legislation that it was one of the main precursors of the mortgage lending crisis.

 

[jlprk]

I get it now. When rich Wall Street fatcats sold junk derivatives and wrote uncollectible balloon rate mortgages to anyone who dreamed of owning a house, it was the fault of--I'm catching on now--homeless black poor people and the weak organizations like Acorn that lobby to help poor people.

Let's get those homeless vagrants who held a gun to the head of Goldman Sachs and robbed the economy of a trillion dollars. Let's get that loot before it's spent on booze.

 

[BLAZER PROPHET]

I get it now. When rich Wall Street fatcats sold junk derivatives and wrote uncollectible balloon rate mortgages to anyone who dreamed of owning a house, it was the fault of--I'm catching on now--homeless black poor people and the weak organizations like Acorn that lobby to help poor people.

Let's get those homeless vagrants who held a gun to the head of Goldman Sachs and robbed the economy of a trillion dollars. Let's get that loot before it's spent on booze.

[sigh] I give up. Sound & logical debate is truly a thing of the past. Independent thinking and civics is dead. Maybe I should become a sheep, too.

BAAAAAAAAAAAAAAA! BAAAAAAAAAAAAAAAAAAAA! BAAAAAAAAAAAAAAAAA!

 

[jlprk]

You can't win against a self-amusing abuser of PapaG and Adderall (is that a new calculator or something?).