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Romney debate stuff

Even though Obama didn't, why didn't anybody call Romney on the plethora of Bachmannesque half truths and obfuscations that he threw in as throwaway lines?


One example would be when he talked about Dodd/Frank and how "have you tried to get a mortgage these days?"


I suppose that people are inclined to think that somebody in a $5000 suit and $200 hairdcut who has proved that he can rape and plunder like a viking must know something about finance. And maybe he does.


But in fact mortgage market conditions are still pretty loose by historical standards- all that has happened is that they've tightened up to somewhat rational underwriting terms as compared to the suicidal insanity of 2001-8.


People do have problems refinancing if they are underwater or near LTV and the administration has made some propsals to try to help with that. The republicans have blocked those efforts as private equity players and hedge funds move in a buy up $billions in foreclosed homes.


Chumpie is as chumpie does.

2 Replies

came back in to answer my own question

the bank/mortgage topic stands as a perfect example.


As long time posters here know, I expended a great deal of effort from about 2004-2007 trying to understand the highly unusual- and deeply troubling- things that were going on in the mortgage securitization market.


I've noted before that the radicalizing moment for me was the "Franny youtubes" where, when things finally blew sky high, very high quality propaganda quickly appeared that was extremely successful in permitting people who didn't want to believe what had happened to do so as their own fears, sense of class and identity or politics dictated.


I think what we're seeing here is a continuation of the same. Republicans in particular have been so successful in bringing their deceptions into the public mainstream that the press is now giving them a pass in the name of being fair and balanced.




Re: came back in to answer my own question

it is the same phenomenon that led to Ryan being widely proclaimed as "serious."