Originally Posted by Monkyinthemiddle

No Dahling..it was Bush and Greeenspan throwing a bone to the poverty ridden Republican base.
They told every Hick, hillbilly and Yokal in Red State America that with the 14K a year they made at Wal Mart or the local feed store, they could afford a 150 to 200 thousand dollar home.

Why ? Simple. It artificially inflated not only the housing market, but the durable goods and retail market as well, in order to mask the fact that the tax cuts failed to produce any stimulation of the economy, and that the Bush economy is in the toilet.

When secondary market investors came back and wanted a promised return on their investment, Bush and Greensopan hit the sorry ass ignorant losers who took these loans with 17 staraight increases. As usual, the Blue States where the economy is at least above water because of State inititives, will have to open their checkbooks to bail the back ass 3rd world red states, just like they do every time a tornado blows over a red state trailer park.

This is what actually happend Dahling