End of the American Dream? - By Star Parker

According to our president, because "big banks traded in risky mortgages… lenders took advantage of homebuyers… homebuyers knowingly borrowed too much …" we have today's housing crisis. But it's all so untrue. What has failed in our country is not capitalism. It is the intentional undermining of it. The Obama team is bringing capitalism to an end. Star writes:

As our new political leadership leads us into the fiscal twilight zone, is it too much to ask for a little honesty as they do it? The day after President Obama unveiled his plan to bail out distressed mortgage holders, Treasury Secretary Geithner and Housing Secretary Donovan wrote an op-ed in USA Today explaining it. "Ordinarily, American homeowners don't need government help. … But these are no ordinary times," they say. But practically every American homeowner does get government help by being able to deduct mortgage interest from their taxes. And, Fannie Mae and Freddie Mac, the taxpayer backed quasi-government mortgage behemoths, own or insure around 50 percent of all outstanding mortgages in the country. [Continue reading]

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