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Friday, October 14, 2011

Republicans Discuss Economics Over Lunch...

 ... catered by  "The Happy Gizzard"  on Tuesday, October 11, 2011

First, from Mr. Krugman:
...We didn’t find ourselves in a crisis because “shadow banks” like Lehman Brothers exploited gaps in financial regulation to create bank-type threats to the financial system without being subject to bank-type limits on risk-taking. No, in the universe of the Republican Party we found ourselves in a crisis because Representative Barney Frank forced helpless bankers to lend money to the undeserving poor...

Then we look to The Cunning Realist for some quotes from George W. Bush:

"And so I let out a goal. I said over the next decade, we want there to be 5.5 million new minority homeowners. That's why Mel is here. He helped set the goal. He is going to help implement the Federal policy I'm about to describe to you about how to meet that goal. Last year, we did a pretty good job. There's now 809,000 new minority homeowners in America. And that's positive for the country. It's good for the economy. It's also good for the spirit of our country that more people are owning a home.

"But here are some of the things that we intend to do, and we discussed today earlier. Sometimes people have trouble finding the downpayment for a home. It makes them nervous when they hear the downpayment. We need to have a down-payment fund to help people with downpayments if they qualify. The Congress -- the House passed my request for $200 million a year. It's stuck in the Senate. The Senate needs to act. If they're interested in closing the minority homeowner-ship gap, they need to act on the downpayment fund.
[quote from]
-George W. Bush, October 15, 2003 in Dinuba, California -- per capital income of $11,566, and the epitome of the state's eventual housing meltdown.



Baysage said...

I quoted Krugman today too. It was a great piece . . . and it will have no effect on the trend of events. I'd give a dollar for a positive thought about where I think this country is headed.

Montag said...

The fact that one of the major political parties has a large portion of its membership made up of raving lunatics who think they all are (or at least Rick Perry and his wife) appointed by Gawd! is no longer a fact that frightens me.

It's what we were born for, so might as well get used to it.