Novelist Orson Scott Card, “a Democrat and a newspaper columnist” dares to mention the emperor’s distinct lack of clothing in a Mormon publication today:
This housing crisis didn’t come out of nowhere. It was not a vague emanation of the evil Bush administration.
It was a direct result of the political decision, back in the late 1990s, to loosen the rules of lending so that home loans would be more accessible to poor people. Fannie Mae and Freddie Mac were authorized to approve risky loans.
Orson, I’d upgrade my home security if I were you.
(Hat tip: Blue Crab Boulevard)
OSC is one of my favorite writers and he frequently makes sense in his political understanding. Not always.
Interesting. Orson Scott Card was so conservative in his approach to the Iraq war that I thought he was a Republican.
He’s a hawk/socialist/social conservative/evolutionist/genius/mormon who hates the religious right and religious left very much.
I have heard him opine in person and it’s part wincing, part head-nodding…mostly head-nodding for me.
Have any of you read Danny Schechter’s newest book, “Plunder?” A great book that advocates a debt-relief movement in American and argues that such a movement would resonate across the political spectrum.
I haven’t read it, Becky, and I see that it isn’t out in stores yet. Are you marketing it? I don’t know what Schechter’s argument is, but I do wish Rep. Frank and Sen. Dodd among others could be thrown out of their ears for reckless governing. Still, the system is flawed at many levels. We need moral leaders in government and corporations to work as a country. We can’t continue as America by fleecing each other.
Phil: I agree with you 100% we do need moral leaders who can help us get out of the bind that we are in. I am really nervous about the elections. I just hope the right person gets into office!
Also, I actually found Danny Schechter’s book on amazon. Here is the link
http://www.amazon.com/Plunder-Investigating-Economic-Calamity-Subprime/dp/1605203157/ref=sr_1_1?ie=UTF8&s=books&qid=1223606800&sr=1-1
I follow the u.s. markets, and the ‘sub-prime’ crisis was a long time in coming, and one that many people saw. One of the best resources on this (in my humble opinion) is Mises.org (e.g. ‘Update on the housing bubble’)
http://feeds.mises.org/~r/MisesMedia/~3/421834200/Thornton_10-14-2008.mp3
– I’m not a financial expert by any means, but if house prices are going up 10-15 percent a year, and wages are going up 2-3 percent, this is an unsustainable situation… and one that will inevitably implode.
– as regards Orson Scott Card; he’s a liberal, conservative, liberal, conservative, liberal.