Who Are Their Writers?

This feels like a bad comedy. Let's do a quick economic recap.

Sub-prime mortgages collapsed across the board when market saturation was reached. Trillions in imaginary money disappeared almost overnight. Banks who had lent out money they didn't really have to people who didn't deserve it went belly-up. The economy is in shambles.

There is a root cause to this mess - overlending. Sub-prime mortgages and fractional reserve lending both involved people giving away money that didn't really exist to people who wouldn't be able to pay it back. The entire system was based on some rediculous concept that prices would just keep going up.

Now, instead of embracing deflation and contraction, the government is trying everything it can think of to bolster the economy and force growth on a system that neither wants it nor neeeds it at this time.

Their latest salvo? Trying to force lower mortgage rates.

How the hell do these people keep their jobs? How is it remotely possible that nobody smacks them upside the head and yells "YOU ARE A FUCKING MORON!"?

They bitch that banks aren't lending, depsite the fact they FORCED them to take bailout money. Now they're trying to spur homebuying by lowering rates! It was people buying homes they couldn't afford and banks lending out too much money that GO YOU INTO THIS MESS IN THE FIRST PLACE! How the fuck do you think this fixes it?

The banks are smart enough to keep rates where they are and not lend, realizing that they want to make money and that ain't going to happen by sticking to the lend-as-lend-can method of the previous few years. The government wants to force them to pursue unprofitable and damaging practices for the sake of growing a damaged economy. Since the gubmint owns Freddie & Fannie, they can use them to force others to be competitive with unrealistic numbers.

"Well, you have lung cancer due to all the cigarettes you smoked. My prescription is more cigarettes." Would you let a doctor that told you this keep his license? Fucking morons.