Wednesday, May 1, 2024
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And Then the Roof Fell In…

Wanna know whats happening to the economy?  Wanna know why things will never be the same?  Two new books document and lay-out the blame, Wall Street style for all to marvel over.  If you come across anyone telling you that oh, the election will bring about changes; or, Obama (the darling-child of the people who brought us this meltdown) will fix it all with his “Change You Can Beleive In” crap, think again.  In fact, follow this link to these book reviews and find out for your self why nothing will change with Obama.  It might even get worse.  Wouldn’t that be somethin’?  We’ll be looking back on these times as the good ole days of  $4.00 gasWON Editor

 

Who killed the U.S. housing market?

Some finger former Federal Reserve Chairman Alan Greenspan, for cutting interest rates too low and believing that mortgage bankers could be trusted to make sensible loans. Others blame Angelo Mozilo, the recently retired CEO of Countrywide Financial, the nation’s largest and most aggressive mortgage lender until it stumbled into the rescuing arms of Bank of America. Mr. Mozilo’s espresso-roast tan, sharp suits and snarling voice make him Hollywood’s obvious choice of villain.
 But no single person can carry the can for the housing bubble, its deflation and the current plague of foreclosures. That much is clear from two books – “Chain of Blame” by Paul Muolo and Mathew Padilla and “Financial Shock” by Mark Zandi – offering instant history on what may turn out to be the worst economic disaster of our time.

 

 

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