Money quote:
So: why are we willing to fund an enormous RTC-like agency to bail out bankers, but not an enormous RTC-like institution to bail out ordinary people? Lack of lobbyists? Republican ideology? A desire to punish irresponsibility regardless of the disastrous sytemic consequences? Or what?
I know! (Raises hand.) It was to sucker people with one hand gripping onto the middle-class ladder into buying houses they couldn't afford so that they would inevitably fall back into poverty; and to make sure that the rest of the middle class would follow shortly thereafter.
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