On Democrat party plans to accuse Republicans of intentionally inflicting economic harm on the country to improve their electoral chances in 2012.
Obama and the Democrats: You own this, kids! You have done this. Your fingerprints are all over it. The unemployment. The home foreclosures. The stock market. The coming inflation. The massive deficits. The subprime mortgage business. The fact that peoples' homes are underwater. You did this, there is no question you did it, and you are going to pay a huge political price for it in November of 2012. You can try and blame this on the Republicans all you want. In the process you are indicting yourselves…
On the government's role in the subprime loan fiasco.
It was a giant scam, rooted in, on the surface, "social justice", "fairness", "everybody should have a home". The American Dream. And underneath the surface, it was get-rich-quick for people that worked at Fannie Mae, to an extent Freddie Mac, and people that worked on Wall Street... these people walking in, to get a loan... wouldn't have walked in the door in the first place if the government hadn't wanted them in there. Remember the government was demanding that lending institutions loan money to people who were not qualified... the government wanted people in there borrowing money, and they didn't care if they lied (on the loan applications).