Conservative policy makes rich richer, but socialist policy makes poor poorer. Which one do you like?
Now, you are blaming banks for giving out loans to the poor.
I see some misunderstanding; this is how mortgage industry works:
Government allocates funds to Fannie Mae and Freddy Mac, and sets rules of distributions of these funds. Fannie and Freddy hand over funds to banks for distribution as per government set rules and regulations. The liberal lending practice started in the Bill Clinton period and continued through George Bush period.
Banks distributed funds as government rules and regulations permitted, and earned commissions on those loans. Therefore, blaming banks for giving money to the poor is a total misunderstanding. If these funds were from banks own money, obviously, they would not have such relaxed lending rules. Who, except government, wants to loan his/her money to someone knowing that recipient may not pay the loan back? Only politicians can do that, because it's not their own money, and they are never held responsible for anything.
However, banks did some misdeeds along the way as well; they created derivative loans on the primary mortgages, which cannot survive if primary loans default. In this case, primary loans defaulted due to non-qualified recipients, and that brought down derivative market, and, hence, the bank failure. Government had to come forward to bail banks, since, government cannot escape the blame for the collapse of mortgage industry.
Politics is involved because of government involvement, and that's the cause for misinformation about these topics.
Jiten Roy
From: "Kamal Das kamalctgu@gmail.com [mukto-mona]" <mukto-mona@yahoogroups.com>
To: mukto-mona@yahoogroups.com
Sent: Monday, January 18, 2016 12:31 AM
Subject: Re: [mukto-mona] Re: Germany on the Brink
Conservative policy is to make the rich even richer. That explains why banks gave loan to poor, or even the city corporations build house for the poor that they can't afford. Ultimately, the rich contractors gain. Housing bubble is one part of the story, military industrial complex is another. No nation can waste so much resources and stay on top for long.
On Sun, Jan 17, 2016 at 9:45 PM, Shah Deeldar shahdeeldar@yahoo.com [mukto-mona] <mukto-mona@yahoogroups.com> wrote:
Tea party won't go that far because they know the consequences. So, Tea party noise is no issue for the US.On Sunday, January 17, 2016 9:46 AM, "Kamal Das kamalctgu@gmail.com [mukto-mona]" <mukto-mona@yahoogroups.com> wrote:
If the tea party wallahs are true to their principle, they should return the whole land called U. S. A. to the Red Indians. In a country where big greed has to be saved by Govt. interference, capitalism doesn't apply. Even the East India Company, the largest private company ever, needed to be saved by Govt. help occasionally.On Sat, Jan 16, 2016 at 8:15 AM, Shah Deeldar shahdeeldar@yahoo.com [mukto-mona] <mukto-mona@yahoogroups.com> wrote:As far as we know, the last housing bubble of 2008 was mainly caused by reckless liberal lending. People with no credit history got housing loans. People who could not afford to buy house, got their dream house. I do not think this is a liberal vs conservative issue. Human greed and corruption what cause crisis..On Friday, January 15, 2016 6:21 PM, "Kamal Das kamalctgu@gmail.com [mukto-mona]" <mukto-mona@yahoogroups.com> wrote:
All economic crises in the recent history was the product of conservative policies. I hope, I don't need to say more.
Sent from my iPad
On Jan 15, 2016, at 5:12 AM, Jiten Roy jnrsr53@yahoo.com [mukto-mona] <mukto-mona@yahoogroups.com> wrote:
United States of America, being a capitalist nation, requires conservative principles to flourish. Unfortunately, one of the two political parties follows socialist principles. That's why, conservative presidents have to be always retrogressive to undo whatever done by the liberal presidents prior to them. That's how checks and balances are maintained in the USA, and it's the best system among the worst on earth.Jiten Roy
From: "Kamal Das kamalctgu@gmail.com [mukto-mona]" <mukto-mona@yahoogroups.com>
To: mukto-mona@yahoogroups.com
Sent: Thursday, January 14, 2016 1:57 AM
Subject: Re: [mukto-mona] Re: Germany on the Brink
In reality, conservatism is a mental disorder. Conservatives are always back footed like ghosts. No progress in society has ever been brought about by them. All one needs is to look at the character of conservatives across history to understand how retrogressive they are. In recent history, they include people like Nixon, Regan, and Trump.On Mon, Jan 11, 2016 at 8:31 AM, Jiten Roy jnrsr53@yahoo.com [mukto-mona] <mukto-mona@yahoogroups.com> wrote:Angela Merkel, being a liberal, will risk the future of Germany to defend her PC culture. I think - Michael Savage's phrase: "Liberalism is a Mental Disorder" expresses the context perfectly.I saw yesterday, the Mayor of Philadelphia said that the shooting of the police officer there has nothing to do with Islam, but the shooter was admitted that he did it in the name of Islam. What do you think going on in the USA?When I heard the Mayor yesterday - it reminded me of the "Baghdad Bob" on Iraqi state-TV just prior to Iraq-invasion. He was calming down Iraqi citizens' fear and apprehension by saying that: there is no American soldiers anywhere in Iraq, while we were watching hundreds of American tanks were rolling through the Iraqi airport road.Now, the leaderships of the whole world have become Baghdad Bobs, and no one is telling the truth to the citizens of the world.Jiten Roy
From: "Sukhamaya Bain subain1@yahoo.com [mukto-mona]" <mukto-mona@yahoogroups.com>
To: mukto-mona@yahoogroups.com
Sent: Sunday, January 10, 2016 5:40 PM
Subject: [mukto-mona] Re: Germany on the Brink
Sorry for the wrong link that I sent a few minutes back. The above is the correct link; and again, I think it is a common sense commentary. I agree with Ross Douthat that Angela Merkel needs to go for the future of peace in Germany.SuBain
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Posted by: Jiten Roy <jnrsr53@yahoo.com>
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