Conservative Larry Kudlow Blames Financial Crisis On Poor

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Conservatives blame the victim again

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The poor are ... ( 2 months ago by specultr)

The poor are responsible for all of the derivatives (the side bets) worth trillions of dollars where we don't even know who owes whom the money? Kudlow is a disgusting figure. I'm glad that the people who listen to him and Cramer kept buying stock at the top of the cycle. They deserve to be humbled.

LARRY KUDLOW QUOTE ... ( 1 month ago by automatt12)

LARRY KUDLOW QUOTE TIME!!!
July 2006:
The bottom line here is that Bushs pro-growth tax cuts worked. After all the dust settled, the supply-side was right.
January 2007:
The budget deficit has plunged while the economy has soared. Think of it as the Bush Boom
January 2008:
I'm a guy who looks at the basic fundamentals of the economy. And I see good things happening
Larry Kudlow Fans exclusive: Historic Bridge for sale in Manhattan, 1 owner. Must sell now!

80% of those ... ( 1 month ago by automatt12)

80% of those mortgages were handled by private firms.
Most of these were predatory lenders, who used teaser rates and other tricks to get people to sign up for mortgages.
Bush aggressively stepped in and prevented a massive nationwide effort by elliot spitzer to go after these predatory lenders.
The three hardest hit counties in the US are 90% white.

His words may make ... ( 1 month ago by automatt12)

His words may make you feel good that "its the poors fault". But, is that really what happened?

Yes, most of the ... ( 1 month ago by crchrdsn)

Yes, most of the mortgages were offered by private firms. Fannie Mae and Freddie Mac are GSEs that were created to INSURE subprime loans offered by private firms. Not necessarily to offer it themselves. Also, nobody is putting a gun to your head making you take out a "predatory" subprime loan. If you think your loan is predatory, why take it out in the first place? Read the fine print. If someone can't read the fine print, they have no business taking on a mortgage in the first place.

Another thing, ... ( 1 month ago by crchrdsn)

Another thing, regardless of where you stand on this issue, there is a great article on this by the New York Times. Very prophetic if I might add. Google: "Fannie Mae Eases Credit To Aid Mortgage Lending" by the NYT published September 30, 1999.

Array ( 1 month ago by dconjar)

Are you slow?
There was no point in this clip where Kudlow said anything like that. He said that policies like the Community Reinvestment Act were major causes of the crisis, which they were. That was a major cause of the bad debt and the malinvestment.
If government policies force banks to make loans that would be impossible in a free market, a bubble will form and the market will work to correct the imbalances. Government policies caused this problem, and Kudlow's right for once.

Not once did Larry ... ( 3 weeks ago by SavaryGuy)

Not once did Larry blame this on the poor.

Kudlow is a stupid ... ( 3 weeks ago by rangeyer)

Kudlow is a stupid fuck.....funny to listen to though....

Kudlow sucks... ... ( 3 weeks ago by schoolmaster1945)

Kudlow sucks...crackhead...

He didn't blame the ... ( 3 weeks ago by day50912A)

He didn't blame the poor. He said politicians (Democrats and George Bush) pushed for government backed home loans to people who couldn't or wouldn't pay them off.

this asshole is ... ( 3 weeks ago by bxlxix69)

this asshole is lieing to you in your face, Americans who live in the 50 states are NOT tax liable; the united states in federal law means only the district of columbia...

He blamed liberal ... ( 3 weeks ago by thewah)

He blamed liberal for tying to help poor people, which is just moving the "blame the poor people" one step off.
I wonder if he would ever blame the guy who told people you could just watch TV and get rich? Heck, they used to have a show together.

He is bullshiting. ... ( 3 weeks ago by thewah)

He is bullshiting. On the one hand he blames "liar loans". These were not given to the poor, generally, but to house speculators who figured out how to abuse a flaw in the system.
Then he says it is "the liberals" fault...which is an assumption he (and many other stupid people) automatically start with. It's not surprising it's the same place they always end up.

The 'liberal' gave ... ( 3 weeks ago by day50912A)

The 'liberal' gave 'preditory' loans.

Liberals can do ... ( 3 weeks ago by day50912A)

Liberals can do great damage with their 'compassion'.

This guy is a POS!! ... ( 2 weeks ago by northstar825)

This guy is a POS!!!!

Not nearly as much ... ( 2 weeks ago by thewah)

Not nearly as much as "compassionate conservatives" however.
But I don't want to get in a pissing match here, so have a nice day, por favor.

It's spelled " ... ( 2 weeks ago by thewah)

It's spelled "predatory" and you also misspelled "Bush Administration."

Thank you. ( 2 weeks ago by day50912A)

Thank you.

The point is that ... ( 2 weeks ago by trader1963)

The point is that liberal compassion had nothing to do with subprime loans. Whether forced to by the government or not, banks liked them because they were very profitable. Then the question is: why did the rate of loan defaults suddenly go up above typical historical levels? I suggest that exporting jobs overseas has alot to do with it. Not only has this eliminated jobs but it has also put downward wage pressure on existing jobs. This is a factor the corporate media intentionally ignores.

Your title is wrong ... ( 1 week ago by Lucky7wins)

Your title is wrong, and the stupid white guy saying "you think poor people caused this" is wrong.
He is saying, the problem was caused by lenders lending to "poor people" who couldn't in a million years pay the loan off, much less the interest.
Get it right pal!!!

Lucky..I agree. ... ( 3 days ago by MsticalPrincess)

Lucky..I agree. This tittle is so misleading and RUDE. It tries to imply conservatives are against poor people which we are not. How PATHETIC that someone has to use an UNREALISTIC title and try to PURPOSELY mislead people into thinking something that is NOT said. Typical. Only people that have no TRUE facts result to these SCUMMY tactics. This guy has lost all credibility...period.

There is no need ... ( 16 hours ago by thewah)

There is no need for me to repeat history. Just look at the U.S. in the 21st century. There's your answer.

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