Comments on: The Society of the Owned, Pt.5: The Rage of a Middle Class http://www.republicoft.com/2008/03/06/the-society-of-the-owned-pt5-the-rage-of-a-middle-class/ Black. Gay. Father. Vegetarian. Buddhist. Liberal. Tue, 07 Feb 2012 02:47:01 -0500 hourly 1 http://wordpress.org/?v=3.3.1 By: Katharine http://www.republicoft.com/2008/03/06/the-society-of-the-owned-pt5-the-rage-of-a-middle-class/comment-page-1/#comment-180220 Katharine Mon, 10 Mar 2008 18:07:54 +0000 http://www.republicoft.com/2008/03/06/the-society-of-the-owned-pt5-the-rage-of-a-middle-class/#comment-180220 You may find this article to be additional support for the rage of the middle class: http://www.utne.com/2008-03-01/Politics/White-Collared.aspx You may find this article to be additional support for the rage of the middle class:

http://www.utne.com/2008-03-01/Politics/White-Collared.aspx

]]> By: NancyP http://www.republicoft.com/2008/03/06/the-society-of-the-owned-pt5-the-rage-of-a-middle-class/comment-page-1/#comment-180196 NancyP Sat, 08 Mar 2008 21:34:19 +0000 http://www.republicoft.com/2008/03/06/the-society-of-the-owned-pt5-the-rage-of-a-middle-class/#comment-180196 It's not just the jobs crisis, but the regulatory crisis as well. Why weren't there regulations mandating a clear lay explanation of the implications of sub-prime ARMs, with examples of what could occur in varying market situations? Why weren't and aren't vendors of mortgages required to ascertain that the true income and assets of the borrower is capable of supporting the loan in a reasonable fashion. Why aren't the mortgage brokers who encouraged the homeowners to falsify income data, or who falsified it personally, prosecuted for fraud. Regulations are there so the US as a whole is regarded as an A economy, not a BB or D economy. It’s not just the jobs crisis, but the regulatory crisis as well. Why weren’t there regulations mandating a clear lay explanation of the implications of sub-prime ARMs, with examples of what could occur in varying market situations? Why weren’t and aren’t vendors of mortgages required to ascertain that the true income and assets of the borrower is capable of supporting the loan in a reasonable fashion. Why aren’t the mortgage brokers who encouraged the homeowners to falsify income data, or who falsified it personally, prosecuted for fraud.

Regulations are there so the US as a whole is regarded as an A economy, not a BB or D economy.

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