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Still trying to outsmart me, aren't you, mule-skinner? You want me to think that you don't want me to go down there, but the subtle truth is you really don't want me to go down there! |
#2
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how housing was affected was with a credit crunch, which dried up money for loans. then house purchases suffered(along with jobs, etc) which then forced housing prices down...that lead to people who had home equity lines of credit to have that dry up, because if their house wasn't worth as much, it didn't have as much equity either. higher interest rate housing loans weren't the major cause of the economic meltdown. instead, housing was one of many groups that suffered because of the idiocy engendered by both parties in removing the rules in glass/steagall that had so long prevented exactly what ended up occurring. so, they added banking regs to prevent it again (and portions of glass/steagall were removed to allow u.s. banks and investors to keep up with another group of banks-europes. funny, they're in a mess too) and romney wants to remove those. he has a shorter memory than the congress and bill clinton did a few years back. |