Comments | levendus: it may be a little late....

levendus

it may be a little late....

Nov 04, 2008 15:07

Orson Scott Card has a GREAT article about how America will turn out
under either a McCain or an Obama presidency.

Please click here: http://www.ornery.org/essays/warwatch/2008-10-26-1.html

And thanks, gazingatthesea, for the link.

Comments 5

kalysto727 November 5 2008, 19:19:08 UTC

I don't know if I would call this article great in all caps.

It seems to give McCain the benefit of the doubt at every opportunity while holding Obama responsible for every contradiction and mistake. Not to say that either of them is perfect, but it's very obvious that his personal opinion is allowing him to emphasize certain truths while glossing over others.

Also, his understanding of Fannie Mae and Freddie Mac (who were, despite all the purchasing of these loans, still considered viable companies until August of this year) as being the "trigger" for the credit crisis is incorrect and far too simplistic an interpretation of the event. In my eyes it's an attempt at laying the blame for the credit crisis at the feet of democrats when the truth is more likely that it was simple human greed and not either political party's fault.

levendus November 5 2008, 19:37:01 UTC

How can't Freddie and Fannie be the triggers? They were the ones who were taking up all the bad loans and keeping the housing market inflated. Years before this crisis, Greenspan was predicting this would happen, too. Also, the main beneficiaries of these two companies were the Democrats (and some Republicans) while McCain was trying to support legislation to stop this from happening. You're right about it being simple human greed. But, it was also the short sightedness of all these politicians.

Thanks for the comment.

kalysto727 November 5 2008, 21:06:02 UTC

Freddie and Fannie were not the triggers that caused this because there was nothing that they did that caused the crisis ( ... )

kalysto727 November 5 2008, 21:06:19 UTC

Then, the mortgage broker would take a large number of these loans, get a bond company to insure them and issue them as "a+" rated bonds, that being A, AA or AAA (this works because as a loan with fixed regular payments, mortgages are similar to bonds in that they provide a fixed periodic payment and eventual repayment of principle ( ... )

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