Levin tears into the subprime crisis lies

Mark Levin – a great constitutional scholar – has a radio program on WABC in New York at 6 p.m. ET after the Hannity slot. I enjoy listening to him when I can and his book, Men in Black, helped me put into perspective how the judicial branch of the federal government got out of control and started legislating from the bench.

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Williams helps us understand the Constitution

Always a good read, Walter Williams’ column this week is right on message for our audience. This week he reminds readers that Congress – primarily the people’s house – runs the government including generating tax revenue and determining spending allocations.

As the media and many politicians completely ignore the founding documents, over time they become less relevant. This is a dangerous path.

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Governement Promotes Subprime Loans – Gets Caught

There is quite a bit of blame going on concerning the so-called subprime loan crisis. Depending on who you speak with, it’s either the predatory lenders that took advantage of people, or it was the people who signed the contract that clearly stated they were buying into an adjustable rate mortgage, but just didn’t care.

The homeowners in “crisis” were gambling. Since their home value went from $100k to $150k, they spent the extra $50k in equity towards boats, motorcycles and a truck to tow everything around. Since home value are no longer increasing – and in some cases decreasing – everyone seems suprised and shocked that their adjustable rate mortgage rates adjusted; higher.

You can’t legislate stupidity out of people, but we must look at how the federal government and a new generation of activists planted the seed for the problems in 1977, through efforts to force lending institutions into providing high-risk loans. Read more

Democrats Blame Bush for Everything – PROVE IT

I’m calling out all Democrats and liberals. Prove it. Prove that President Bush did this, and it resulted in that. I’m talking a clear case of cause and effect. Jobs, housing, oil prices, gas prices, global warming… Pick your poison and give it a shot.

Reuters just posted a story, Democrats Slam Bush on Gloomy Jobs Report. Read more

Bernake Calls for Reductions in Mortgage Principal

Outrage of the day. The fed chairman is suggesting that lenders actually lower the principal of mortgages for those having difficulty covering the rising costs of their subprime loans. Read more