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Location: Pantego, Texas, United States

Tuesday, July 07, 2009

Here is a good description of the recent global financial crisis by Steve Sailer. The article talks about the man at AIG who is given credit for creating the problem. Sailer points out that it was indeed subprime mortgages that caused the problem regardless of what Democrats say, and that Goldman Sachs knew the system was going to blow up. They weren't worried because of how well connected they are politically. Paulson was one of them. And the donated heavily to Obama and the Democrats last year so are still politically connected. The other investment houses like Lehman Brothers were dupes.

Not stated in the article, but the investment houses needed home prices to go up. Population increase was needed for that to happen. Thus there was obvious incentive to bring in more immigrants. They seemed to not realize that illegal immigrants from Latin America could not earn enough money to actually pay for the houses they were buying.

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