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Chuck Schumer is an Idiot

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August 29, 2007 – Comments (4)

There's just no other way to say it.

His late, great idea? Cajole auditors into serving as his footsoldiers for a subprime bailout.

 

4 Comments – Post Your Own

#1) On August 29, 2007 at 12:51 PM, floridabuilder2 (99.26) wrote:

TMFBent... you really want to understand auditor behavior... read the first line of your link and then read my latest blog on homebuilder auditors (6 of 20) in my series...  these are the last guys you want to trust

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#2) On August 29, 2007 at 1:59 PM, Imperial1964 (97.76) wrote:

What an idiot.

"keep our housing markets afloat."  I've already ranted on my blog about needing affordable housing, not propping up inflated housing prices to keep homeowners in debt to their bank for the rest of their lives.

Didn't Democrats years ago argue that people need affordable housing?  Now they want unaffordable housing?

Look up the campaign contributors for most politicians.  Campaign Contributions (Dodd)  For most of them, 10 of the top 20 are big banks.  Now things are starting to make sense, aren't they? 

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#3) On August 29, 2007 at 3:53 PM, TMFBent (99.82) wrote:

They do indeed. Who's Chucky really trying to bail out here? Those poor homeowners, or the Wall Streeties who pour money into his coffers, and enabled all this speculative buying in the first place.

I agree we need affordable housing. As an old student of architectural history, I also know what a tall order that can be. Doesn't mean we shouldn't try, but begging auditors to fiddle with the books has got to be one of the dumbest "solutions" I've ever heard.

And, floridabuilder, I appreciate your blog posts. Keep them coming!

Sj

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#4) On August 30, 2007 at 10:01 AM, giantsny (< 20) wrote:

There is affordable housing everywhere in this country. It's called "renting" and it may not be in the best place or in the best area but it exists. If renting in a bad area is your only option it is your own fault. I shouldn't have to subsidize you because you screwed up and can't afford a house with a pool on a golf course! Suck it up and go to work!

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