I was watching Face the Nation on my local CBS station just because I wanted to see what the politicos had to say this morning two days before the most historic presidential election ever.
One man, Senator John Ensign, a Republican from Nevada, who sided clearly with McCane, made me take notice when he said, as I too think, that it was the CRA in the 1970's that started the need for alternative financial vehicles, i.e. interest only notes, because financial institutions were forced into lending to consumers that has less than stellar credit and could not afford the monthly mortgage payment plus taxes and insurance on a thirty year note.
Earlier in my blog, I began to write how the United States got into this big of a financial mess in the first place, but it became too preachy and a diatribe really, so I decided not to publish it to allow more scholarly peoples put the pieces of the puzzle together for themselves or to atleast see if they came to a similiar conclustion as I did. I was happy to hear what I heard this morning from this senator, but saddened that he was an avid supporter of McCane.
On a side note, I cannot support McCane, a man who is older than my mom and so senile he doesn't even know how many houses he owns. Maybe he needs some Ritalin... or a retirement home. He reminds me of the lifetime politicians of yesteryear when almost at the end of their term in office, they would run for yet another position to continue their legacy, err, government funded their way of life they aren't yet comfortable giving up without a fight.
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