Letter: Bush helped set tone for mortgage crisis

Friday, Sept. 14, 2007 | 7:36 a.m.

Now we learn that many homeowners ... are not.

I seem to recall the Boy Blunder (currently masquerading as commander in chief) extolling the ownership economy in which more Americans owned their homes than ever before. What he failed to add with his trademark smirk was, "Not for long."

The unrealistic optimists who bought into this propaganda and didn't want to be left out are now facing usurious interest rates, which will translate into never - ending debt without the benefit of living in the home they never should have agreed to buy.

Don't forget the huge percentage of second homes bought by investors, not to be lived in but sold for quick profit. Before you criticize the hapless homeowner too harshly, bear in mind some of the other fairy tales sold by this administration - i.e., a president who communicates directly with God and a president who is not into nation building - and many other goofy programs that have placed the vast majority of Americans so far in debt that , barring some sort of miracle, they will never be able to recover.

It is obvious now and should have been from early on, that without controls on dishonest lenders, investors, real estate agents and harebrained borrowers, the end result will benefit the few who engineered this mess and cost the majority a lot.

Who m did you vote for? Why? Did you bother to learn anything about him or her before you voted? Obviously not.

Jay Morgan, Henderson