Re: Economist nonsense Soc.Sec. and houses

On Sat, 22 Nov 2008 12:01:41 -0800, Peter Franks <none@[EMAIL PROTECTED]
> wrote:

>Mason C wrote:
>> On Fri, 21 Nov 2008 15:36:55 -0800, Peter Franks <none@[EMAIL PROTECTED]
> wrote:
>> 
>>> Mason C wrote:
>>>> On Fri, 21 Nov 2008 10:07:22 -0800, Peter Franks <none@[EMAIL PROTECTED]
>
wrote:
>>>>
>>>>> Mason C wrote:
>>>>>> On Thu, 20 Nov 2008 22:00:11 -0800, Peter Franks <none@[EMAIL PROTECTED]
>
wrote:
>>>>>>
>>>>>>> Mason C wrote:
>>>>>>>> That is a failure of the unregulated free market -- overselling
and 
>>>>>>>> in many cases outright deception if not criminal fraud.
>>>>>>> What is an example of the deception and/or fraud?
>>>>>>>
>>>>>> Deception:  telling people they could afford a house they
*obviously* 
>>>>>> could *not* afford.   
>>>>> ?
>>>>>
>>>>> I've always assumed that was MY responsibility.  So is what you are 
>>>>> saying that it is someone else's job to tell me what I can and can't

>>>>> afford???
>>>> No.  Read.  It is someone -- anyone's -- responsibility to not
deceive you.
>>>>
>>>>>  If that is the case, I've never listened to or obeyed what 
>>>>> someone else has told me to do wrt what I can and can't afford. 
Please 
>>>>> explain why I'm not in debt and live within my means?
>>>> You are intelligent and well-educated and not vulnerable to a sharp 
>>>> mortgage salesman.  Lucky you.  Not all are so lucky.
>>>>>> Fraud:  unrecorded verbal instruction at odds with the fine print.
>>>>> ?
>>>>>
>>>>> What are these "unrecorded verbal instructions" you speak of?
>>>> The instructions sharp mortgage salesmen gave to people strongly 
>>>> desiring to own a home.   
>>> So, what changed?
>>>
>>> Why were these "sharp mortgage salesmen" now pu****ng (what would soon 
>>> become bad) loans?
>> 
>> These salesman, many for "mortgage brokers" and many for banks, were 
>> under instructions and given commissions for creating mortgages.  
>
>Under instructions from whom?

Who give instructions to salesmen?  Their bosses of course.  Who else?
>
>> I don't want to be rude but your questions suggest that you are not 
>> aware of what's been happening.
>
>Oh, I'm aware.  I don't agree with the conclusion, so I'm examining the 
>premise.  That makes sense, right?

What "premise"?  The facts of what happened?
What "conclusion"?  That the collapse was caused by Bill Clinton or by 
Barack Obama?   Or caused by a financial system bubble?






Mason Clark

*Greater America in the Age of Rebellion*
http://frontal-lobe.info/greateramerica.html
 -- many excerpts you can see --