The Socialists are Still Coming..

The other day, I was talking to a friend who's a Realtor. She asked if I knew anyone looking to purchase a home, and I replied that I might. I said I'd ask my acquaintance if he had a Realtor yet.

She replied, "Tell him I can get a 99% loan to value!" She said this as though it was a good thing!

Don't tell me the banks are still making those irresponsible loans!" I exploded.

Taken aback, she said that yes, there were still "some good deals" out there.

How can this be? It was the millions of irresponsible loans that got us into this National debt. The spread-the-fairness-everyone-should-own-a-home-even-if they-can't-make-the-payment policies of government supported groups like ACORN pressuring banks into faulty lending practices, started it. But when banks figured out that they could pass the bad loans off on Freddy and Fanny as well as overseas investors, they became totally irresponsible They made millions of loans to illegals as well as others, with no social security numbers, proof of employment, or down payment. With millions of those homes in forclosure, how can the banks afford to continue a practice that can only end with the American taxpayer repeatedly footing the bill until we all go bankrupt!

Exaggeration? It was Margaret Thatcher who led Great Britain out of socialism and into a prospering economy who said,

"Socialism is fine until you run out of other people's money."

Now we may ask why the banks can continue this harmful practice. Could it be because they were not held accountable? They were bailed out? They didn't have to take the responsibility for the devastation their practices have wrought on the American economy! Why do they think they can come out slick as a whistle again even if they make faulty loans and thousands more go into bankruptcy? Is the fact that Barny Frank is calling for $150,000,000 more targeted to stimulate the economy making them feel bullet proof? Have they come to believe that there will always be government funds available to cover for their irresponsible policies?

So how did we get into this mess in the first place? Well................




Yes Bush (the evil one), did try to warn us and so did John McCain. They were thwarted by..
you guessed it..Barney Frank and friends....

This is long and the music is a bit dramatic, and it's definitely political but here it is in their own words as they attack the regulators and refer to the bill signed in in 1992 .....



So how about those banks..is it:
Lessons learned? Bad practices thrown out? Or business as usual expecting unlimited bailouts? Well, isn't that like.... ummmm...socialism in action..