Over-regulation at fault in crisis
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By The Daily Progress
Published: October 9, 2008
If you want the real story on the causes of our bailout, read David John Marotta’s column, “Crisis the results of centralized planning,” in The Daily Progress Sept. 29 Business Journal. Marotta is a Stanford University graduate whom I read every Mon-day. He is one of the reasons I subscribe to The Progress.
You will read what Bill Clinton and community organizer Barack Obama did to our “free markets.” By forcing banks to make loans with “100 percent financing ... no credit scores ... undocumented income ... even if you don’t report it on your income tax,” they helped bring down Freddie Mae and Freddie Mac. This is one of the main causes of our current problems.
Now our government is headed to more socialism, which has brought down great countries such as France. Is this what the citizens of America and Charlottesville want?
James Dudley Parrish Jr.
Albemarle County
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