Conservative media

Conservative media

Cry Wolf Quotes

There’s little doubt that the rating agencies helped inflate the housing bubble. But when we round up all the culprits, we shouldn’t ignore the regulators and affordable-housing advocates who pushed lenders to make loans in low-income neighborhoods for reasons other than the only one that makes sense: likely repayment… in 1995 the Clinton administration added tough new regulations. The federal government required banks that wanted 'outstanding' ratings under the act to demonstrate, numerically, that they were lending both in poor neighborhoods and to lower-income households. Banks were now being judged not on how their loans performed but on how many such loans they made. This undermined the regulatory emphasis on safety and soundness.

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Howard Husock, New York Times.

They say, ‘Well, this is a failure of the markets. Oh, this is about greed on Wall Street.’… the problem here is government intervention in the free markets. 1995, when Bill Clinton decided to tell, you know, [then-Treasury Secretary] Robert Rubin to rewrite the rules that govern the Community Reinvestment Act and push all these institutions to lend to minority communities, many were very risky loans. That was a noble idea, perhaps, but that certainly wasn't following free-market principles. This big pressure on institutions to dole out money and these risky loans started this whole ball rolling at Fannie and Freddie.

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Laura Ingraham, The O’Reilly Factor.

Most economists believe that they [rich people] would spend the money and stimulate the economy.

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Gretchen Carlson, co-host of Fox & Friends.

[We have] High unemployment because small businesses, people who make $250,000 a year, are not spending and investing and it will get worse if we don’t extend those tax cuts.

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Sean Hannity, Fox News' Hannity.