Housing Crisis

The housing crisis resulted from the United States housing bubble. Housing prices have been in decline since 2006 with increased foreclosure rates among homeowners leading to a crisis for the subprime, Alt-A, collateralized debt obligation, mortgage, credit, hedge fund, and foreign bank markets.

If the first wave of sub-prime mortgages that failed were at their 5-year recalibration point, how could a democratic congress be responsible for the housing crisis?

If the first wave of sub-prime mortgages t...

Legion™

Look it up. The mortgages that people defaulted on in 2008 and 2009 were sold five years previously. Why is it that the right wing blames the housing crisis on the "democratic congress" that took control in 2006? I see this again and again, and I'...

We're Broke -- Here's How to Fix It

We're Broke -- Here's How to Fix It

conor.friedersdorf

Eek ! With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink dr...

  • Got an email earlier and it was rather interesting. Not too realistic, but interesting nonetheless. To be honest, it would be much cheaper to do it this way too. --------------------------------- Sounds so simple without...
    2 comments
    Brian S 5 days ago
  • New York Times: U.S. Racing Toward Debt ‘Shock’ Monday, November 23, 2009 1:51 PM Article Font Size A page one, top-of-the-fold New York Times report Monday warns that U.S. debt is rising so fast that the feder...
    0 answers
    AmmoLou 12 hours ago
  • From the Huffington Post Gretchen Morgenson : Lobbyists Win Again In Securing Tax Break For Home Builders The New York Times 's Gretchen Morgenson points out that lobbyists have won another victory that wi...
    1 comments
    Annette 5 days ago
  • David Kaiser is a respected historian whose published works have covered a broad range of topics, from European Warfare to American League Baseball. Born in 1947, the son of a diplomat, Kaiser spent his childhood in three ...
    15 answers
    kevjon November 16, 2009 02:24:15
  • Our kids are the ultimate credit market, and the rest of us are all pre-approved! By Mark Steyn J ust between you, me, and the old, the late middle-aged, and the early middle-aged: Isn’t it terrific to be...
    0 comments
    Bill in Niantic November 16, 2009 00:46:20
  • I figure we could sell it to Mexico for a dozen tacos, a bottle of tequila and a pass to a donkey "show". http://wcbstv.com/cbs2crew/david.paterson.special.2.1300362.h... Delivers Scary News To Legislature, Says Only Way T...
    3 comments
    WannaBeRSC the Contrarian SOB November 10, 2009 14:36:32
  • Maybe he is wrong. What if he is right? David Kaiser is a respected historian whose published works have covered a broad range of topics, from European Warfare to American League Baseball. Born in 1947, the son of ...
    39 comments
    W.R. Monger! November 09, 2009 17:02:08
  • Veterans Get Lip Service, Bankers Get Billions November 12, 2009 Dylan Ratigan One thing about doing a two hour show that heavily covers both the financial crisis and the wars in Iraq and Afghanistan is that you notice o...
    1 comments
    StarrGazerr November 12, 2009 15:55:55
  • Federal regulators in the Bush administration blocked attempts by state governments to prevent predatory lending practices that resulted in the financial crisis now stalking the American economy, a new study from the Unive...
    71 comments
    morning40oz~NeoRadical October 07, 2009 11:58:51
  • National Review Online writer, Stanley Kurtz, posted this story a month before the presidential election. Given people's limited knowledge of ACORN and Obama's background, it's well worth reading now. A link to the whole a...
    150 comments
    Civic_Minded October 01, 2009 19:35:02
  • Obama’s Ties to ACORN Show Complicity in Financial Crisis Caused by Bad Mortgages September 18th, 2009 · No Comments By Bob Dienstbach While Americans were busily distracted by undercover videos exposing outrageous be...
    46 comments
    Chico September 28, 2009 16:32:30
  • http://news.yahoo.com/s/ap/20091030/ap_on_bi_ge/us_congress_l... WASHINGTON – Internal investigations into the conduct of over two dozen House members have been exposed in an extraordinary, Internet-era breach of security ...
    2 comments
    [PRISONMOON]+[RSSH] October 30, 2009 16:17:04
  • Subject: FW: Smart lady... and a good read Well! Look like things are on the move with discontent coming from a lot of areas. Looks like she knows her subject!!!!!!!! by Pam Geller Pamela "Atlas" Geller began h...
    5 answers
    dab October 28, 2009 06:39:33
  • http://www.humanevents.com/article.php?id=34073# by Alicia Cohn 10/22/2009 Changing the locks usually signals a bad break-up. If that is what it means on Capitol Hill, it is a bad sign for bipartisanship....
    1 comments
    Guila (Scoop) FIGHT TO KEEP OUR GREAT NATION October 23, 2009 15:10:49
  • Take the three minutes to read this. Maybe he is wrong. What if he is right? David Kaiser is a respected historian whose published works have covered a broad range of topics, from European Warfare to American...
    13 comments
    Sunshine...Former Democrat October 16, 2009 03:41:19
  • It Didn't Work, But This Time... I wasn't surprised to hear today that the so-called "earnings" of the mega-banks are a fraud - a scam - a sham - a lie - bogus - fake - counterfeit - phony - spurious - of the snake oil ...
    19 comments
    iamnothere October 15, 2009 14:32:16
  • Take the three minutes to read this. Maybe he is wrong. What if he is right? David Kaiser is a respected historian whose published works have covered a broad range of topics, from European Warfare to American League B...
    22 comments
    Guila (Scoop) FIGHT TO KEEP OUR GREAT NATION October 09, 2009 02:08:37
  • Democrats on path to repeat housing disaster By: Byron York Chief Political Correspondent September 22, 2009 With all the attention paid to the health care battle, ACORN, and the president's "Full Ginsburg" appea...
    16 answers
    Chico September 24, 2009 13:51:14
  • CONFRONTED WITH HIS COMPLICITY, BLAIR 'ROLLED OVER' AND EXPOSED THE OTHER RATS London, 30th October 2008: "It can now be revealed that former British Prime Minister, Tony Blair, has 'shopped' the world-class financial...
    2 comments
    Ed - In Yahweh ("I will be what I will be") I ... October 06, 2009 17:10:32
  • CONFRONTED WITH HIS COMPLICITY, BLAIR 'ROLLED OVER' AND EXPOSED THE OTHER RATS London, 30th October 2008: It can now be revealed that former British Prime Minister, Tony Blair, has 'shopped' the world-class financial ...
    0 comments
    Ed - In Yahweh ("I will be what I will be") I ... October 06, 2009 17:08:53
  • Officials: Fed will need to move quickly when time comes to boost rates, battle inflation By Jeannine Aversa, AP Economics Writer On Tuesday September 29, 2009, 7:00 pm EDT WASHINGTON (AP) -- To prevent inf...
    11 comments
    Chico September 30, 2009 14:06:47
  • Democrats Aim to Control People's Lives Friday, September 25, 2009 3:17 PM By: Rick Pedraza Article Font Size Conservative talk-show host Rush Limbaugh says President Barack Obama’s plan to control healthcare is...
    67 comments
    dico September 27, 2009 14:03:32
  • Just another view on the depression that we are in. looks like it is not getting better.. as I have opined on many occasions here on SH.. Though many on the left keep saying Ha.. we are out of the recession.. What world h...
    24 comments
    iamnothere September 28, 2009 16:10:36
  • WEEKLY ADDRESS: President Obama Promotes Tougher Rules on Wall Street to Protect Consumers WASHINGTON – In this week’s address, President Obama highlighted the need for a Consumer Financial Protection Agency to impleme...
    3 comments
    StarrGazerr September 19, 2009 11:34:59
  • The American people are like sheep being led to slaughter. Our Founding Fathers declared that the common people were in control. Whenever any form of government becomes destructive of these ends, it is the Right of the Peo...
    5 comments
    morning40oz~NeoRadical September 19, 2009 01:01:06
  • There are more than 580 large-scale corporate fraud investigations by the FBI under way and about 40 of them on sub-prime mortgage lending. These are complicated investigations that involve digging through records and gath...
    7 answers
    GeorgeR September 22, 2009 03:20:07
  • The distracting benefits of ACORN hysteria by Glenn Greenwald Earlier this week, I wrote about how the Fox-News/Glenn-Beck/Rush-Limbaugh leadership trains its protesting followers to focus the vast bulk of their resent...
    16 comments
    StarrGazerr September 18, 2009 15:34:40
  • In preparation for President Obama’s speech on regulatory reform on Monday -- the one-year anniversary of the collapse of Lehman Bros. -- Dr. Larry Summers, the chair of President Obama’s National Economic Council, today b...
    2 answers
    Molly September 12, 2009 03:29:27
  • Illegal Market Manipulation, Felony Insider Trading, Villain, Currency collapses Soros: Republic Enemy #1 By Jim O'Neill Tuesday, September 15, 2009 “The main obstacle to a stable and just world order is the United S...
    94 comments
    irish September 15, 2009 11:58:28
  • Bush On TARP: ‘Why Did I Sign On To This Proposal If I Don’t Understand What It Does?’ On September 24, 2008, former President George Bush addressed the nation to explain the $700 billion Troubled Asset Relief Program (T...
    0 comments
    Madelisa September 16, 2009 11:26:18
  • Bigger and Riskier By SHAMUS COOKE September 14, 2009 After the financial levees broke and the crumbling banks ushered in the economic crisis, angry people clamored for drastic change in the financial system. Obama ...
    1 comments
    morning40oz~NeoRadical September 15, 2009 23:07:51
  • A special message from American Political Action Committee: Obama An Active Marxist-Socialist in the 1990's Socialist Energy CZAR Friend of Obama Jones Resigns An inept, inexperienced and dangerous Obama White H...
    7 comments
    Redeemed September 09, 2009 06:33:17
  • The United States on Thursday said it would seek stronger capital and liquidity standards for banks as part of a global agreement by the end of next year to help prevent another financial crisis. The proposal, expected ...
    3 comments
    morning40oz~NeoRadical September 04, 2009 05:42:23
  • 85 BILLION $ BAILOUT I�m against the $85,000,000,000.00 bailout of AIG. Instead, I�m in favor of giving $85,000,000,000.00 to America in a We Deserve It Dividend (WDD) To make the math simple, let�s assume th...
    0 comments
    THE ONE September 05, 2009 06:24:54
  • The sub-prime mortgage mess has a lot of finger prints on it. There is plenty of blame to go around. However, despite claims to the contrary, some of those finger prints are George W. Bush’s. In 2002 Bush said: “One ...
    26 comments
    Jodie July 28, 2009 19:55:35
  • I will try to explain it as directly as possible, regardless of how it may sound to some. No matter who was responsible for 9/11, it was indirectly used to start a war with Iraq and to set up a situation where a President ...
    3 comments
    Alien Ramone September 01, 2009 06:27:19
  • Only those who are educated and care will read this. Other will laugh and ridicule those of us who know this "CHANGE BEING TALKED ABOUT FOR THE COUNTRY" certainly will not make our Country "A BETTER PLACE TO LIVE! T...
    6 comments
    Sherry Mowery August 25, 2009 06:10:19
  • See Uncle Sam Borrow the White House's "new" and additional $2-trillion deficit (to $9.3 TRILLION in 10-years). Apparently the so-called experts in the White House didn't know the recession was as bad as it was. Oops ...
    4 comments
    iamnothere August 28, 2009 13:12:42
  • Here it is in his words The Cause of My Life’ Inside the fight for universal health care. By Edward M. Kennedy | NEWSWEEK Published Jul 18, 2009 From the magazine issue dated Jul 27, 2009 In 1964, I was flyi...
    58 answers
    Bob™ the Union Ironworker August 26, 2009 15:57:12
  • by Pam Geller Pamela Atlas Geller began her publishing career at The New York Daily News and subsequently took over operation of The New York Observer as Associate Publisher. She left The Observer after the birth of he...
    15 comments
    BlueMax372 August 26, 2009 20:44:40
  • It is much worse than hand-outs. Read what Pam Geller reported: “I am a student of history. Professionally, I have written 15 books in six languages, and have studied history all my life. I think there is something mon...
    1 comments
    justiceforall August 18, 2009 13:28:10
  • Got this in the email this morning.. Think about it.. this is your money this is YOUR wallet. I will note that the banks are the ones who actually pay fees to the FDIC as a premium for the insurance that they provide....
    33 comments
    iamnothere August 17, 2009 13:53:16
  • Is Ron Paul the last relevant Republican in Washington? August 13, 9:33 AMBoston Conservative ExaminerThomas Eddlem The question sounds facetious, since Texas Congressman Ron Paul failed to make any traction among GOP ...
    1 comments
    jitko August 14, 2009 16:20:48
  • From Whiskey & Gunpowder By Bill Bonner and Addison Wiggin August 6, 2009 Baltimore, Maryland, U.S.A. Excerpt from “The Hard Math of Demography” Social Security? Not Exactly The first public retirement p...
    7 comments
    DeCaf August 14, 2009 15:48:17
  • This is from an article in the St. Petersburg Times Newspaper on Sunday. The Business Section asked readers for ideas on "How Would You Fix the Economy?" I think this guy nailed it! Dea...
    10 answers
    Kanaka Rican - I know my Redeemer lives August 09, 2009 15:15:34
  • This from the Boston Globe. Are people leaving the North-east states because of ever increasing taxes? WASHINGTON - Massachusetts almost certainly will lose one of its 10 congressional districts after next year’s cen...
    5 comments
    Racefish August 14, 2009 14:03:29
  • Rachel Morris Mother Jones August 12, 2009 Over at Politics Daily, MoJo’s DC bureau chief, David Corn, points out that all the fuss over death panels and granny-killing government health care has overshadowed some ver...
    4 comments
    morning40oz~NeoRadical August 14, 2009 11:13:05
  • http://news.yahoo.com/s/ap/20090813/ap_on_bi_go_ec_fi/us_econ... Jobless claims up, retail sales dip unexpectedly By CHRISTOPHER S. RUGABER, AP Economics Writer Christopher S. Rugaber, Ap Economics Writer – 1...
    5 comments
    Guila (Scoop) FIGHT TO KEEP OUR GREAT NATION August 13, 2009 15:22:04
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