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Discussion and Debate
Discussion and Debate
Politics
American Politics
Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
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<blockquote data-quote="NightHawkeye" data-source="post: 72333087" data-attributes="member: 265226"><p>I understand that is how the collapse was portrayed by Democrats. The truth though is that government interference attempted to re-write the laws of economics by giving home loans to large groups of people who never should have qualified ... ever. A good deed is teaching a person how to manage finances ... or improve their skills ... not putting them in a situation so far beyond their means that a day of reckoning is soon at hand. </p><p></p><p>The government forced lenders to give loans to people who wouldn't have qualified under any reasonable assessment of their circumstances. Free money, right? What could possibly go wrong? The lenders really had little choice but to bundle loans together. Buyers of home mortgages had little interest in purchasing bad debt. I mean, would you willingly buy mortgages which were likely to default? Most people and most companies wouldn't. To be able to make loans that could be sold at all, the lenders learned to repackage the good debt with the bad. It was a shell game of sorts ... which need not have happened. It did not end well.</p></blockquote><p></p>
[QUOTE="NightHawkeye, post: 72333087, member: 265226"] I understand that is how the collapse was portrayed by Democrats. The truth though is that government interference attempted to re-write the laws of economics by giving home loans to large groups of people who never should have qualified ... ever. A good deed is teaching a person how to manage finances ... or improve their skills ... not putting them in a situation so far beyond their means that a day of reckoning is soon at hand. The government forced lenders to give loans to people who wouldn't have qualified under any reasonable assessment of their circumstances. Free money, right? What could possibly go wrong? The lenders really had little choice but to bundle loans together. Buyers of home mortgages had little interest in purchasing bad debt. I mean, would you willingly buy mortgages which were likely to default? Most people and most companies wouldn't. To be able to make loans that could be sold at all, the lenders learned to repackage the good debt with the bad. It was a shell game of sorts ... which need not have happened. It did not end well. [/QUOTE]
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Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
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