| Final-Fan said: Also, is it even true? (About the Democratic policy leading to the failed loans.) I understand there was a program that's been around since the '70s; what evidence is there that these loans are failing in greater proportion than other subprime mortgages that have nothing to do with that program (or some other specific program such as you describe)? |
Who do you think the subprime loans were going to? Poor/minority borrowers who could not otherwise afford a home, who then defaulted when the adjustable rate increased.
Yet, today, America's leaders are reenacting every folly that brought these great powers [Russia, Germany, and Japan] to ruin -- from arrogance and hubris, to assertions of global hegemony, to imperial overstretch, to trumpeting new 'crusades,' to handing out war guarantees to regions and countries where Americans have never fought before. We are piling up the kind of commitments that produced the greatest disasters of the twentieth century.
— Pat Buchanan – A Republic, Not an Empire
