Good times - Bad times: How Did We Get To This Point?

Hello,

I was talking to my bookkeeper earlier today, and she forwarded me some great information.

People think that it is all the current administration’s fault for the way things are. The truth is that it was all setup to fail almost ten years ago. The truth is that ALL politicians have short term self gain in mind, and don’t think about the long term effects of their actions.

If you are interested in this type of stuff – these articles are great examples of what I mean. They are two different view points on what contributed this economy crash – with one written almost TEN YEARS ago. Just some additional food for thought while you listen to everyone point fingers…

“Bad times are usually brought on by confounded, know-it-all politicians and bureaucrats with good intentions, but bad ideas.”

- Presario

Article 1:

Our present housing market and financial crisis shouldn't come as any surprise. As a matter of fact, it should have been obvious to even the most casual observers. Check out this article from the New York Times. Note the date of the article - it was writen almost 10 years ago.

Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
Published: September 30, 1999

Original Article Link http://query.nytimes.com/gst/fullpage.html?res=9c0de7db153ef933a0575ac0a96f958260&sec=&spon=&pagewanted=all

Article 2:

Subprime Suspects - The right blames the credit crisis on poor minority homeowners. This is not merely offensive, but entirely wrong.
By Daniel Gross
Posted Tuesday, Oct. 7, 2008, at 2:08 PM ET
Original Article Link: http://www.slate.com/id/2201641/pagenum/all/#page_start