And real estate mortgage value almost doubled between 1976 and 1980
In an effort to take advantage of the real estate boom (outstanding U.S. mortgage loans: 1976 $700 billion; 1980 $1.2 trillion)[5] and high interest rates of the late 1970s and early 1980s, many S&Ls lent far more money than was prudent, and to ventures which many S&Ls were not qualified to assess, especially regarding commercial real estate. L. William Seidman, former chairman of both the Federal Deposit Insurance Corporation (FDIC) and the Resolution Trust Corporation, stated, "The banking problems of the '80s and '90s came primarily, but not exclusively, from unsound real estate lending."But listen to this speech from Reagan, it is almost unfathomable that one could expect such a "politically incorrent" speech in terms of religion these days. Yer to hearken on back to days in which America at least tried to follow a brighter star, a more noble approach. Think on these things.
3 decades of easy money, where has it gotten us?
This is where it has gotten us to--
An arrogant president, still not at ease after growing up as a rare black boy in Hawaii, Watch the video, it shows insights.
http://theobamadiary.com/tag/snobama/
