Not Mitt Romney this time, but Elizabeth Warren. Essentially, she flipped foreclosed houses, and she lent money to her relatives to buy houses. (Oh, the horror!) But they can’t really attack her for being a capitalist, because they like capitalism, so they go after seemingly mismatched public statements:
However, Warren and her family’s private investments don’t seem to square with her public statements about the latest real estate boom and bust
“We are in the midst of one of the greatest economic crises in our country’s history — a crisis that began one lousy mortgage at a time,” the Democrat wrote on her campaign website, which also decries “a deregulated credit industry (that) squeezed families harder, hawking dangerous mortgages.”
Ms. Warren was not “hawking” dangerous mortgages. Furthermore, the activities of the house flippers actually works to provide a floor to the market. They see opportunities to buy distressed properties, fix them up, and get them back on the market. The “normal” home-buyers are just that, home buyers. They are looking for someplace to live, and are concerned about falling prices and having to pour money into a “fixer-upper” to make it livable.
Let’s go after Ms. Warren on her stances on issues, not nonsense about her investment activities.