Amazing.

Conveniently one-sided information is posted.

It's corrected with articles pointing out fact from the New York Times, apparently a bastion of the vast right-wing conspiracy! LOLZ

Tells us "Bush" didn't really push for it (17 times). A COMPREHENSIVE listing of those 17 times:

http://nicedeb.wordpress.com/2008/09/21/the-white-house-warned-congress-about-fannie-mae-freddie-mac-17-times-in-2008-alone/

Whines about flaming and calls one of the sources extreme right-wing.



Beam me up.

Why is Canada having less of a foreclosure problem?

Simple answer, they didn't deregulate the banks.

Having come from the UK to Canada just as the worst of the crisis was hitting I can categorically say that the situation here is not nearly as bad as elsewhere.

Canada is currently is a protected bubble unaware just how bad it is for Europe and America right now. No banks collapsed here. There simply wasn't the housing crash that there was in America and Europe. The main reason for the dip in the economy is because they have been effected by fallout from the American problems.

Most Canadians are pretty smug about that and they all know they weren't hit the way everyone else was because they didn't deregulate the banks.

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Reality Internet Personality

There are many leaches in this world....but there is only one enemy to our lifestyle... CHINA...

Obomama just gave state of the union address this week....and America is going to sell CHINA, airplanes, trains, cars, heavy equipment....CHINA makes all that stuff already, for a tenth of the price, WHY would they buy it from the STATES?

More jobs are going to be lost in the free world, more bankruptcy, it does not matter where you live, YOUR goverment has sold you out....OUR wealth gets shipped to CHINA everyday and does not comeback here....STOP buying crap from CHINA....FORCE your politians to stop the bleeding with CHINA, STOP the war on you and your family!!!!!Stop buying from CHINA

Well that's the free market for you. You can't have your cake and eat it.

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Reality Internet Personality

well without a job, here in CANADA you get no mortgage....

once you have a job, it takes about 5 yrs for a down payment for a house, if the bank will let you have MORTGAGE.....then once you buy the house, if you lose your job, you have to sell you house...so alot of those stats, just dont fit into your canada dream!!!!

gee that sounds strikingly familiar. So Canada is like everywhere else

I don't think that Canada has any special laws that require you to sell your home if you lose your job. However if you can't afford it then yes its a good idea to sell. what you intend to do after you sell is clearly not written

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In a rich man's house there is no place to spit but his face.
Diogenes Of Sinope

well without a job, here in CANADA you get no mortgage....

once you have a job, it takes about 5 yrs for a down payment for a house, if the bank will let you have MORTGAGE.....then once you buy the house, if you lose your job, you have to sell you house...so alot of those stats, just dont fit into your canada dream!!!!

So in other words they don't lend money to people who can't afford to pay it back. Which is why the banks didn't collapse here.

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Reality Internet Personality

well without a job, here in CANADA you get no mortgage....

once you have a job, it takes about 5 yrs for a down payment for a house, if the bank will let you have MORTGAGE.....then once you buy the house, if you lose your job, you have to sell you house...so alot of those stats, just dont fit into your canada dream!!!!

So in other words they don't lend money to people who can't afford to pay it back. Which is why the banks didn't collapse here.

How novel we perhaps should try something similar in our backwoods. perhaps it might even work

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In a rich man's house there is no place to spit but his face.
Diogenes Of Sinope

well without a job, here in CANADA you get no mortgage....

once you have a job, it takes about 5 yrs for a down payment for a house, if the bank will let you have MORTGAGE.....then once you buy the house, if you lose your job, you have to sell you house...so alot of those stats, just dont fit into your canada dream!!!!

So in other words they don't lend money to people who can't afford to pay it back. Which is why the banks didn't collapse here.

How novel we perhaps should try something similar in our backwoods. perhaps it might even work

Oh no we can't do that. It would discriminate against the poor and minorities. That is exactly what the CRA was designed to prevent, discrimination against poor and minorities. It required loans that could not be paid back.

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well without a job, here in CANADA you get no mortgage....

once you have a job, it takes about 5 yrs for a down payment for a house, if the bank will let you have MORTGAGE.....then once you buy the house, if you lose your job, you have to sell you house...so alot of those stats, just dont fit into your canada dream!!!!

So in other words they don't lend money to people who can't afford to pay it back. Which is why the banks didn't collapse here.

How novel we perhaps should try something similar in our backwoods. perhaps it might even work

Oh no we can't do that. It would discriminate against the poor and minorities. That is exactly what the CRA was designed to prevent, discrimination against poor and minorities. It required loans that could not be paid back.

So repeal the CRA and replace it with a better way of being non-discriminatory.
And for the poster that so loves "the Market," gee, at a glance, it seems like MORE of the Market was involved than ever before.