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Entry: Obamanomics... Link: http://www.takimag.com/sniperstower/article/obamanomics#27555 Post contents: I hope, at worst, Obama is just a culturally liberal guy with technocratic instincts on policy. I always think policy is secondary for him; it's about ambition, meaning, and "making history." I think we shouldn't downplay his knee-jerk side. On the mortgage crisis, a few months ago, he said the following, "But over time, lenders began pushing low-income buyers into homes they could not possibly afford, abusing the system by lowering their lending standards, making loans that required no money down and offering low, teaser interest rates that explode after the initial grace period." Pushing? No one was pushed. People sought loans, lied about them, and the market responded. It's true lenders were irresponsible and they should bear the losses they improvidently have sustained from overly generous standards. But no one was pushing anything; the lendees were pushing just as much as the lenders, but for Obama they're just innocent victims of the greedy lenders. We know he's complain about "red lining" too, so the whole thing is a farce. Hillary's little better, of course. Sent at: 2009 01 09