The Housing Crisis

[carolaa]

I know what some of you think about Huffington Post, but this is about the plainest, clearest explanation of the housing crisis that I've seen yet.

http://news.yahoo.com/s/huffpost/20090312/cm_huffpost/174122

[Jeannieb43]

Thank you for this, carolaa. I was about to post that very same article!!

I hadn't heard any negative comments about the Huffington Post -- I actually like a lot of their articles.

I used to think Arianna Huffington was somewhat of an "airhead" (just from hearing her speak), but now that I've started reading The Huffington Post I see the error of my ways. She has a whole lot of good sense, and insight into the political scene.

This article about Greenspan is very enlightening! He actually let the economy just drift along while on his watch. Nobody takes a stand for what's RIGHT these days!

Where are the "dare to be a Daniels" when we need them???

We all need to wake up and check things out for ourselves.

[Dr. Shane]

Greenspan played a large role in the crisis but it is conspiratorial to contribute that to partisan politics. Greenspan was doing the same thing during the Clinton years. Many contributed Clinton's re-election to Greenspan. The housing crisis didn't just fall on us. It was a long time coming. Even years ago we had threads on this forum predicting this would happen. It was foreseeable - as was the tech bubble that popped.

Low interest rates, adjustable rate mortgages and sub-prime loans all combined caused this crisis.