{"id":198029,"date":"2007-12-20T00:06:00","date_gmt":"2007-12-20T05:06:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/12\/20\/its-the-fault-of-clintons-penis\/"},"modified":"2007-12-20T00:06:00","modified_gmt":"2007-12-20T05:06:00","slug":"its-the-fault-of-clintons-penis","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/12\/20\/its-the-fault-of-clintons-penis\/","title":{"rendered":"It&#8217;s the Fault of Clinton&#8217;s Penis"},"content":{"rendered":"<p>Yep, that&#8217;s what <a href=\"http:\/\/online.wsj.com\/article\/SB119794091743935595.html?mod=opinion_main_commentaries\">the Wall Street Journal says<\/a> (subscription required):<\/p>\n<blockquote><p><span style=\"color: rgb(0, 0, 153);\"> The joint housing and mortgage-market crisis once again reminds us that all financial implosions stem from the same cause: borrowing short and lending long without enough equity to weather periodic storms in the gap between.<\/span><\/p>\n<p><span style=\"color: rgb(0, 0, 153);\">But this bubble was different. Besides being fueled by housing purchases and repackaged loans, each with inadequate equity &#8212; doubling down with other people&#8217;s money &#8212; at the end of the capital-gains rainbow was the right to take up to $500,000 of profit, tax free.<\/span><\/p>\n<p><span style=\"color: rgb(0, 0, 153);\">Thank you President Bill Clinton for your 1997 action, applauded by the banks, the realtors and all citizens in search &#8230;<\/span><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Yep, that&#8217;s what the Wall Street Journal says (subscription required): The joint housing and mortgage-market crisis once again reminds us that all financial implosions stem from the same cause: borrowing short and lending long without enough equity to weather periodic storms in the gap between. But this bubble was different. Besides being fueled by housing &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1265,1064,982],"tags":[],"class_list":["post-198029","post","type-post","status-publish","format-standard","hentry","category-housing-crash","category-media","category-stupid"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198029"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=198029"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198029\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=198029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=198029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=198029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}