In response to:

What's Next?

TheSlaondog Wrote: Nov 06, 2012 1:32 PM
The second was to remind bankers that some households with debt ratios above the standard 28/36 criteria might still qualify for home loans. This guideline is very Republicans by today's standards. Many problematic subprime loans were granted to borrowers with debt-to-income ratios above 50 percent, which was in no way sanctioned by the 1992 guidance document. The third was that lenders could count Social Security, second jobs, and other verifiable income streams as valid sources of income when evaluating loan applications. The real problem has been with "liars' loans," in which the reported income streams are never verified at all.

Presidential elections decide only who wins the White House and a congressional majority. They don't by themselves solve the nation's problems. George W. Bush had a majority Republican Congress and did little with it. President Obama had a majority Democrat Congress during his first two years in office, but appeared to let ideology trump solutions, causing additional harm to the economy.

What will happen if Mitt Romney wins the White House, but Democrats maintain a Senate majority? Even if Romney wins (likely) and Republicans capture the Senate (unlikely) and maintain their House majority (likely), will real change take place? Senate Majority...