Tag: Bush

Bad move, Bush Administration

Posted by Kev on September 08, 2008

Well, I don’t have much in the way of details to write right now due to a lack of time. But I wanted to at least go on record. I am absolutely in disagreement with what the Bush Administration has done to the mortgage industry. Congress gave him authority, and in one day he was able to do to the mortgage industry what we were all fearing Obama would do to the health care industry. The result of the Fannie Mae and Freddie Mac buyout is government control of the majority of the bonds that back mortgages in America.

The short-term effects will be good. Interest rates will drop and there will be a stimulation to the economy. Kinda makes me suspicious that it was done as a political stunt to help support McCain rather than to save a nearly dead mortgage industry. The industry wasn’t going to collapse any day, and there was no need to save the two companies just yet.

I am not happy. Shame on you, Mr. Bush. And welcome to a socialized mortgage industry, America.

Mind the dates

Posted by Kev on August 06, 2008

Now, while I know that correlation doesn’t necessarily equal causation, it’s pretty hard to argue that the President’s lifting of the executive ban on offshore drilling has nothing to do with the plummeting gas prices given the dates. The president lifted the order on July 14. Since July 16, oil in terms of price per barrel and per gallon at the pump have been in an unceasing downward spiral.

So despite what Pelosi and her out of touch party members think, it appears that it won’t take 10 years for the 2 cent reduction at the pump to come.