America's North Shore Journal » Entries tagged with "lending crisisi"
Financial Disaster Coming?
Read this. Send it to all your friends. Send it to your enemies and even strangers. This is the absolute truth about the Congress. No bull. Steve Schippert posts at Wizbang: We are witnessing a failure in government. Our Congress cannot work together to provide an immediate fix to a problem it created in the first place: forcing the American financial sector to extend mortgages to those who were high risk borrowers in order to champion to the American people that more minorities own homes than ever. That worked well under a booming economy. But when the natural cycle of economics turned downward, fear dismissed became reality unavoidable. The house of cards came tumbling down. And even still, amid all the haggling and fighting going on in Congress over how to shore up … Read entire article »
Filed under: American Economy, Other Bloggers
