T on MM 7-20

Tammy was part of Charles Payne’s ‘Making Money’ panel weighing in on the Obama administration gathering personal data from Americans for a secret ‘race database.’

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  1. Maynard says:

    Before the crash of 2008, we were hit by a barrage of demands to end “economic racism” and force the banks to lend to unqualified buyers. The political pressure — remember banks are regulated and can be pushed around by the government — gave us the real estate bubble, and everyone was making money for a while. And then it all came crashing down, and the suicidal stupidity of our policies was made clear. So the race baiters and poverty pimps stopped taking about the banks for a few years. But the public memory brief, and now they’re back with a vengeance.

    As far as integrating neighborhoods go, why don’t the liberal millionaires just move next door to to the projects?

  2. Pat_S says:

    The right is telling itself fairy tales. The government set the table with low interest rates (Alan Greenspan) and deregulation of the derivatives markets but it was Wall Street that feasted with financial creations that brought on the lending boom and ultimate bust.

    Lenders were not forced to issue subprime loans. Subprime loans were eagerly sought after by the private lending sector because those loans were viewed as win-win. Higher rates and fees or a foreclosure in a rising market. Then the subprime collateral was leveraged 30 or 40 times. It was the private sector that devised the wise ass scheme of slicing, dicing and hiding risky debt in other financial paper later known as toxic assets. The Wall Street masters of the universe had what they saw as the holy grail of investors, the Black Scholes formula which they believed was a foolproof way to make money by placing bets on debt. Finally, it was the belief that the government would bail them out that kept the party going. It was the audacity and greed of the private sector that brought the world economy to its knees.

    • Maynard says:

      Pat, you are correct, and I am oversimplifying to the point of deception if I speak of the “diversity” angle as the sole cause of the crash. Yes, everybody jumped into the orgy, from the bankers at the top to the $6-an-hour fry cooks buying half-million dollar homes with no down payment. And some people — probably the people on top — knew exactly what was going on and cynically took advantage, whereas the rest of the crowd were probably naive enough to believe in the great American magic money machine and the party that never ends.

      Two comments on that.

      First, it was the bursting of that housing bubble that triggered the collapse. The fanatical racialists were playing with matches in a gasoline-soaked structure. This started as a mortgage crisis, and it wasn’t immediately obvious what else it would drag down. (And thus the racialists did shut up for a few years.) We must give some Republicans, including Bush and McCain, a couple points of credit for trying to sound a warning on the potential of a mortgage collapse. They knew, and they spoke up — but not forcefully enough to actually make any changes. Naturally the Democrats called them babykillers and the like, but still, it’s the president’s job to do the right thing. (Oddly, one of Jimmy Carter’s biggest political problems was the high interest rates, which I really don’t blame him for; he got caught in the tail of the inflationary blow-off from the previous 20 years.)

      I’ve heard the job of the Fed described as being to take away the punchbowl before the party gets out of hand. Obviously, yeah, that didn’t happen. Greenspan’s reputation, which had looked so great, suddenly did not.

      I suppose if not for the mortgage crisis, something else would have come along and shaken the house of cards. With everyone making money, it was probably a political impossibility for monetary policy to have gradually deflated the bubble.

  3. dennisl59 says:

    Here are two audio clips from Mark Levin that leaves no doubt about what is happening.


    Meanwhile, 24/7 Prolefeed, Prescription Strength Soma and ‘Social Media’ is dulling and blinding the American people all to the advantage of enemies, foreign and domestic.

    posted 7/21 815am Texas[Police State]Time

  4. strider says:

    Congress should be able to anticipate moves like this by now and stop the flow of funds to anything that is at cross purposes to the constitution.

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