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Old 10-08-2008, 12:32 PM   #9
Status: Banned
Join Date: Apr 2007
Posts: 1,856
Originally Posted by mimartin View Post
Saying it is so, does not make it so.
Outlining how it caused the credit crunch:
1. Okay, banks put out money for risky loans which are guarenteed by Freddie/Fannie

2. Loans go bad, and properties have to go back on market where they aren't selling.

3. Banks lose money and go to Freddie/Fannie to get their money back

4. Freddie/Fannie doesn't have the money

5. Banks are unable to loan money out to other people

Looks to me like it is so.

Come on. That 'organisation' is entirely dedicated to discrediting the NY times. How anyone can take that as a serious source when it's even more biased than the paper it's supposedly exposing?
At this point the NYTimes has been hit for being disreputably biased for the liberal left by so many sources, it's kinda hard to disprove this site in that regard, so yeah I'd trust them to be less biased than the NYTimes. Heck I'd trust the National Enquirer more than the NYTimes, and I wouldn't trust the Enquirer to give me real news to begin with.
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