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My understanding is that lenders started issuing “subprime” loans (meaning a loan given to someone who cannot afford it) in respone to political pressure, for example the Community Reinvestment Act which was intended to make homeowners of poor people, especially African-American poor people. Of course, the bankers figured out how to make a quick buck at the same time, at least for a while. I am not blaming poor people for the mess, I blame politicians and bankers in that order.
By the way, I learned not long ago that the word “mortgage” literally means “death pledge”.
I wonder what the US federal Estate tax was for Mr Arnall’s 1.5 billion dollar estate.
If the human family fails to muster the strength for responsible collective action now, because the leaders of the past 8 dark years were so woefully inadequate, one day our children will look back in anger and utter disbelief at leaders and followers alike in my not-so-great generation who had the chance at least to try and mitigate the fully expected damages of pollution, climate change, environmental degradation, resource dissipation, biodiversity extinction and overpopulation but abjectly failed because we chose to play around the edges of the global challenges before us and refused to respond reasonably and sensibly in the face of clear and present dangers. Sacrifices of ’sacred cows’ and ‘golden calves’ often associated with being honest, earning wealth, exercising moral courage and making necessary changes were too damn hard for so soft, satisfied, sanctimonious, selfish and stupid a generation of arrogant and greedy elders, I suppose.
Steven Earl Salmony
AWAREness Campaign on The Human Population, est. 2001
http://sustainabilityscience.org/content.html?contentid=1176
Steven Earl Salmony
What sanctimony arrives with your pen. I wonder how much you have contributed to the problems you so dastardly depict. Those of us who run business, pay taxes, put our kids through college, etc., while you the government imp continue in this mantra of having the all.
I suspect you do little for mankind other than grow your own salary, pension, perks, etc. At the same time you help wreak havoc amongst the minds of our children with the socialist propaganda of
Lenin.
Lets be clear…. Most of us want a clean underpopulated planet. We do not need the likes of you sanctimoniously declaring those of us that are maybe in our elder years are the root of the problems you describe. If ever there were sanctimony, you reek of it.
Do you understand what constitutes the businesses that pay your salaries are required to do? In other words, do you know how many pairs of shoes a retailer must sell a day to pay a $75k annual salary? Let alone pay his employee health care, and pension plans.
You think that the mighty socialist agenda is going to solve all of this. You speak like the typical Marxist professors of past eras that had never to make a payroll, or toil the ground for life blood.
I am sorry, but your remarks make blood hemorrhage from every organ in my body. Go get a real job and come back next year and tell me this. You undoubtedly fit the description of the intellectual half wit.
AWAREness Campaign on The Human Population. I have not seen anything in my life that is so freaky. What do you recommend? Gee any one over 60 should be euthanize d.
This is the government cancer that is permeating this society, while it enslaves those of us that provide the life blood. You see. I do run a business. I have worked for the likes of you however, and am repulsed by what you want to accomplish.
Normally I just come here to read, but it is evident you have no idea of what you write. Review your history and discover what it is that makes America work.
PS. If CAF agrees with your views, I wont even come back to read.