Time to try again to kill the lie that government housing policy caused the subprime crisis. Maybe this time it’ll knock the zombie down for good. Probably not.
In an working paper entitled The Subprime Crisis: Is Government Housing Policy to Blame?, the authors conclude the following,
We find little evidence that either the [Community Reinvestment Act] or the [government sponsored enterprise] goals played a significant role in the subprime crisis. Our lender tests indicate that areas disproportionately served by lenders covered by the CRA experienced lower delinquency rates and less risky lending. Similarly, the threshold tests show no evidence that either program had a significantly negative effect on outcomes.
So when a Republican tells you the subprime crisis was the fault of FANNIE and FREDIE, reach for your shotgun because there’s a zombie that needs putting down.
A couple days ago there was a posting on this website that blasted Joel Kleefisch because somebody made a reference to hunting democrats in his facebook posting. Now you post reach for your shotguns and put down a Republican zombie, way to take the hypocritical high ground lefties.
Sure. So you’re falling into Phil Scarr’s trap and admitting that Republican people are zombie lies (not liars, mind you, but lies)?!
You’re an odd bird.
I find it interesting that you chose the name of a use-once, disposable drink item. Therefore, I shall use you once, and dispose of you.
Tbag Announces TeaOP in Favor of The Zombie Apocalypse!
In a startling development, the TeaOP comes out in favor of zombies and against actual, living Americans! And seeks to disarm Americans leaving them defenseless agains the onslaught of the undead.
This position does not bode well for the Democrats in 2012 since the passage of the zombie Voter ID law, only zombies will be allowed to vote. And the zombies always vote TeaOP.
To say nothing of the zombie lies!
But I hear the prepositional phrases are the real swing vote this year. They can be highly emotional and unpredictable.
But I do find it oh-so-interesting that Tbag didn’t engage the lie itself, but rather the manner in which the lie was presented. Tacit acceptance that the TeaOP spin on the whole mortgage crisis was a big f’ing lie right from the start? I think so… You were warned, Tbag, you were warned. 🙂