[StBernard] Is it Dems or GOPs?

[Westley Annis]

But it was FAILED Clinton policies that created the subprime mess to begin
with.

Westley

-----Original Message-----
Let's not forget what really started a lot of this mess; it was the subprime
markets and variable rate mortgages that people foolishly signed for.  Take
unqualified folks and sign them up for mortgages they really shouldn't have
qualified for.  When the rates adjusted upwards they were screwed.  Add in
the the financiers who bundled the mortgages into SIVs and then sold them as
investments.  That started the whole thing rolling downhill and gathering
momentum and "vicitms" as it rolled.

This youtube vid is my favorite take on the entire thing.  It's of Bird and
Fortune and is a funny take on a bad situation.  This was done when the
subprime issue was just building up.  Trust the Brits to understate things.

http://www.youtube.com/watch?v=mzJmTCYmo9g

JY