Quote Originally Posted by thebigspendur View Post
I know many think the Govt is the root of all evil and it's too big and over-regulating but the fact is if the Govt had stepped in and said "you want to buy a house you need 10% down minimum and meet minimum income guidelines and proof of income or no house for you" this housing mess would have stopped dead in it's tracks.
The part you are missing here is the banks were BULLIED into making these bogus loans. That's what the CRA was all about. The government inspected those banks to make sure they were doing so and threatened them if they didn't. They did what the government told them to and today Obama is crowing about how he is getting even with the Wall Street fat cats by extorting another 26 billion out of them for tricking all those poor people into taking out loans that they could never repay.

The Bush administration tried to stop what was going on in 2002 and was stopped from doing so by the Democratically controlled Congress.

Term Limits is the only long term answer. Also, if Congress spends more than they take in, they shouldn't get a paycheck that year.

Obama hasn't submitted a budget since he's been in office. We have no idea where all these TRILLIONS are going except when we hear news stories about Solyndra Solar and Fisker Electric cars when they go bankrupt after wasting hundreds of millions. At the same time when Obama was asked about those "shovel ready jobs" the last trillion was for he laughed about it saying, "I guess those jobs weren't as shovel ready as I thought".

Either Obama is a total idiot, or his wrecking of our economy is deliberate. I think the latter.