Linked by Flatland_Spider on Wed 24th Sep 2008 21:56 UTC
Reason Online, the online presence of libertarian political magazine Reason, is featuring a book review of Cory Doctorow's book, Little Brother. Little Brother re-imagines George Orwell's classic, dystopian novel, Nineteen Eighty-Four, as a modern cyberpunk thriller for a young adult audience.
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Member since:
2005-11-11
"On this side of the pond - well, in NL at least - we look with amazement towards what's happening in the US. People receiving mortgage and loans even though they aren't credit-worthy?"
What you seem to be missing out on is that it is the government's fault so many non credit worthy people got mortgages and loans. You've been given the links in this very talk section.
Here's another from 1999:
"Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits."
- http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A057... (the pressures alluded to in the article were painted as a positive thing)
OK yeah, maybe it looks a little weird to you to see us happy to leave companies out to dry when they fail. For us it's the flip side of being able to take risks and get ahead. People losing homes a: maybe shouldn't have tried to get them in the first place (but were free to try, a good thing) and b: were encouraged to do so by government pressure on financial institutions. The blame is split between freedom/risk taking, which we like (and hey, it's worked pretty well for us for the most part), and the government. Hardly any surprise then that it's the government that gets most of the flak.
Edited 2008-09-26 02:27 UTC