The Causes and History of the Mortgage Crisis
On this historic election day I am taking the opportunity to guide readers to the most comprehensive explanation of the mortgage crisis I have seen to date. Events to occur today will show how well the general public really understands this event, which precipitated the economic meltdown which has profoundly impacted this election.
Investor’s Business Daily (IBD) is, in my opinion, the leading business daily available. They elected to publish one of the most complete timelines of the current economic debacle that was written by an independent scholar and published this week by the Web magazine American Thinker. Here is an excerpt and a link to the entire 7300 word timeline:
Presidential candidate Barack Obama has put free-market capitalism at the root of the current mortgage industry debacle, denying the real history of government interference in that market…
…Contrary to the Obama narrative, however, free-market capitalism is not at the root of the current mortgage industry crisis, but rather the very socialism he hawks. The historical record makes this fact unmistakably clear. – IBD
After an introduction containing the posturing on this issue during this election and much more than those two paragraphs, he launches into the blow by blow history of the actions that caused the current crisis, on all sides, starting with the “New Deal.” Please exercise your liberty and vote.
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