Inside the Subprime Debacle

Reader Comments
Back to article

chris dod, barney frank and b. clinton gave us this sub prime crisis- with b.s notion that every body should own a home, it started freddy and fanny and who was in control of those two, the democrats listed above, you can say anything you want, we the public know the whole true about the mortgage crisis that caused the banks destruction [ that would destroy the economie and turn the us like one europian country, SOCIALIST.

L.P.Barria of TX 9:14AM January 25, 2010

The Repulican President, Republican Congress and Alan Greenspan all together came up with the scheme. During 2004-2005 when US was going through absolute no manufacturing growth and because of (False) war in Iraq, US was at a standstill in economic growth. So to spur the growth of the economy, "That" idiot at Federal Reserve and the Idiotic Republic President let the money loose.
When you have more supply than the genuine demand of money, most banks and mortgage houses started giving money without really checking individuals background or the strength to pay back. Juast as President did after he took over office in 2001 Janurary. He gave tax break of 1 trillion dollars to his cronies, oil company and bank executives. The average person did not receive even $1000 refund of that money.
So when you spend without any regard to the check book or the bank balance, someday you will wind up selling your house, village, city and country.
That exactly what Alan Greenspan and President Bush did to the US. What has happened in last eight years to the underlying strength of the country, that prosperity will never be achieved ever again.
I do not want to sound synical but similar thing happened during World War-II. One man started the war and the whole world was engulfed literally. The current situation is also done by one man and the whole world is in financial crisis.
Let us think twice in ever electing Republican President.

Siddhu Jonathan of OH 3:12PM October 10, 2008

The Government of USA should make arrangement to rehabilitate the people thrown out to streets due to the sub-prime lending. There must be atleast some common arrangement by which they stay to some extent decently than being in tents and in cars.
The USA government should also stop global military deployment and fighting costly wars. They have to economise their best to confine to their country and first set right the living standards of their own people.
Regards,
PV Rangaiah

PAKALA VARADA RAJULU RANGAIAH of WA 12:50AM October 07, 2008

Oh come ON now!!
What really has caused the "debacle" is the simple fact that folks noticed that while the Republicans control the government and the courts (expressly including the Supremes) honesty and integrity are the worst policies! Why shouldn't they act like children with their hands in the cookie jar while mother's back is turned? What price have these white collar crooks had to pay? Shoot even the few that have been caught, tried and convicted have faced minuscule prison time, and even smaller "fines" which according to reports aren't usually paid at all!
Thanks to the decline in "values" crime does indeed pay! It pays very very handsomely!
Is there anyone out there who actually reads these days, unaware of the confluence of events that's made all this looting of the public possible? Go back to the so called Savings and Loan Debacle. What's changed? Not even the names for the most part and certainly not the business and political affiliations of most of the players.
This is supposed to be the age of "Family Values". What do we get? Just about the opposite of what that term implies. The current administration will likely go down as the most corrupt and all time worst we've ever been stuck with. For my two cents the current president should have been impeached along with his vice president. What they have done to the country won't be fully appreciated until the historians are done with the dissection of the rotting corpse.

Fearful of Retribution (yeah it's that bad) of NY 2:31AM July 11, 2008