I use to be a huge fan of Bill O'Reilly and I loved his book Culture Warrior. When we had television I loved to watch him and I also listen to his radio show. Lately I just can't handle the man, I had to turn the radio off today. Again today he said how he did not see the economic downturn coming, the problems with the housing market and the financing of said houses. I bought my first home in 1997 I am now in my fifth home since that time. Three of my homes were condos, two in Chicago and one in the suburbs. Time and time again I saw people and friends buy homes they really could not afford. I have a friend in the mortgage business, she over the years told me of the numerous loan schemes available. Anyone reading a paper, listening to the television or radio, read or heard often about outrageous loan deals.
President Bush called for GSE reform publicly at least 17 times in 2008, he also called for reform as far back as 2001. A man in Mr. O'Reilly's position must have had his head in the sand over the last eight years not to notice that we were headed to the current crisis. Even prime time television has made mention of the current mortgage mess. Boston Legal aired an episode on December 18th, 2007 called Green Christmas forecasting the current collapse of the mortgage industry.
Cathy
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