From Pine View Farm

And This Surprises Us How? 0

What have I been saying all along? And I was late to the party because I’m a nobody and this blog is just a hobby:

The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.

Follow the link. Read the whole thing. Lots of persons foresaw the logical result of Bushonomics and warned about it.

And King George the Wurst deferred to the bankers. You know, the ones who are now bankrupters.

The Republican Party, in service to privilege since 1868.

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