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Oct 29, 2008

What Caused The Mortgage Crisis

10/29/08 - Investors Business Daily By M. Jay Wells   --> Source

An outline review of US economic history and the mortgage crisis.

[edited] For Obama, increased federal revenue be damned, tax increases are nonetheless necessary for redistributionist "fairness." He said as much at an April debate where he described his plan to "look at raising the capital gains tax for purposes of fairness", after having just admitted that raising the tax rate would reduce revenues.

Contrary to the Obama narrative, free-market capitalism is not the cause of the current mortgage industry crisis; the cause is the very socialism he hawks. The historical record makes this fact unmistakably clear.

1 comment :

Charisma Combestra said...

The current mortgage crisis was caused by the unsound financial decisions of many lending institutions, brokers, and home owners who based their actions upon the formerly-booming real estate market.

mortgage consultant

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