Help finding an article on Fox News "Blame The Recession on the Poor Buying Houses..." talking point

[Hissyspit]

Someone posted an article here several months ago that debunked all the arguments underlying the "The recession was caused by forcing home sales to people who could not afford them, Barney Frank, Fannie Mae, etc." Fox News talking point.

Does anyone remember it and can provide a link (or to anything similar)?

[RKP5637]

1. I think this might cover it, but I don't know if it's the same article ...

"The Myth of Fannie Mae, Freddie Mac, Barney Frank, the Housing Bubble and the Recession"

http://thelonggoodbye.wordpress.com/2010/08/12/the-myth-of-fannie-mae-freddie-mac-barney-frank-the-housing-bubble-and-the-recession/

[Hissyspit]

2. That's not it, but it's a good one

Thanks!

[Politicalboi]

3. My brother

An avid Faux watcher blames the poor for buying houses they couldn't afford. I said to him, "Why did the banks approve them then?" He didn't have an answer, but he blames Barney Frank too. He's covered all the points.

[Hissyspit]

5. It's the Fox News Big Lie & Myth. It was repeated incessantly.

It's mostly not true, but it conveniently implicitly implicates poor people and ethnic minorities. It's sick.

[girl gone mad]

4. The Big Lie Goes Viral?

http://www.washingtonpost.com/business/what-caused-the-financial-crisis-the-big-lie-goes-viral/2011/10/31/gIQAXlSOqM_story.html?tid=pm_business_pop

[Hissyspit]

6. That's not it, but very useful. Thanks!

[mmonk]

12. That article mentions the Bear Sterns exemption. Very good.

[EFerrari]

7. Here's one from 2008 where they say the recession is a media myth.

The 'Recession' Is a Media Myth

Written By John R. Lott, Jr.
Published April 01, 2008
FoxNews.com

During the 2000 election, with Bill Clinton as president, the economy was viewed through rose-colored glasses. According to polls, voters didn’t realize that the country was in a recession. Although the economy started shrinking in July 2000, most Americans through the entire year thought that the economy was fine.

But over the last half-year, the media and politicians have said we were in a recession even while the economy was still growing.

Gas prices are going up. The economy is slowing. Talk of recession is seemingly everywhere. While the majority of people rate their personal finances positively, consumer confidence in the economy has plunged to a 16-year low, well below what it was during the last year of the Clinton administration when we were in a recession.

A Nexis search on news stories during the three-month period from July 2000 through September 2000 using the keywords “economy recession US” produces 1,388. By contrast, the same search over just the last month finds 3,166. Or, even more telling, take the three months from July through September last year, when the GDP was growing at a phenomenal 4.9 percent. The same type of Google search shows 2,475 news stories.

Read more: http://www.foxnews.com/story/0,2933,343671,00.html#ixzz1ly1fsxyf

There is a bit at the end about families not sticking to the terms of their mortgage.

[Hissyspit]

11. Ha, ha.

What an maroon John R. Lott, Jr. is.

[EFerrari]

8. What about this one.

he Democrats' Recession

Written By John R. Lott Jr.
Published November 17, 2008

snip

The media focuses on the drop in housing prices, consumer purchases or stock prices as the cause of economic problems, problems that they view as unrelated to Democratic policies.

The financial problems seem obvious. Democrats have been the ones pushing for federal regulations that forced financial institutions to make risky loans either though the threat of penalties from the Federal Reserve or through subsidies from Fannie Mae and Freddie Mac. They protected Fannie Mae and Freddie Mac from regulations

While Barack Obama claims that he fought for more financial market regulation, the regulations that he wanted would not have stabilized the markets -- quite the contrary. He supported regulations that went after so-called predatory lenders who were charging “too high” an interest rate to poor, risky borrowers. Forcing banks to charge even lower interest rates to these risky borrowers would have meant even more problems, not fewer ones.

The regulations that mandated little or no down payments to risky borrowers posed little problem as long as housing prices rose, but when house prices started to fall, it meant that many people just walked away from mortgages that were worth more than their houses.

Read more: http://www.foxnews.com/story/0,2933,453086,00.html#ixzz1ly6lQue2


http://www.foxnews.com/story/0,2933,453086,00.html

[jmowreader]

9. What they're not telling you about those "regulations"

The name of the regulation is "The American Dream Downpayment Act."

http://homebuying.about.com/cs/downpaymentgift/a/american_dream.htm

Basically, the law enabled first-time homebuyers to receive a government grant sufficient to pay the first $10,000 of up-front money for first-time homebuyers under a certain income threshold.

And Shrub Bush's name is scrawled across the bottom of it.

[EFerrari]

10. Reading Fox reminds me of reading my English 1A students' papers

where they had King Lear wandering around the Forest of Arden.