[lbo-talk] Cause of crisis

[Joanna]

It might be useful, though reason seldom matters, to raise two points 
with regards to the Hannity line:

1. If Clinton caused this, how come there was a surplus when he left office?

2. How could a few thousand poor minorities cause trillions dollars 
worth of damage and the possible collapse of the world economy?
I mean, just add those mortgages up, I doubt you'd get more than, say, a 
hundred million.

By the way, I witnessed tonight, George Will on Stephanopolous say 
exactly that, that the crisis had been caused by the govt forcing Fannie 
and Freddie to loan $ to minorities. In other words, the crisis was 
caused by excess regulation.

Joanna