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I know so terribly im "sorry", I just frown at the individuals here who make every attempt to distance themselves from the GOP hacks and the neoconservatives who brought upon this mess, but then continue to spread their messages and believe the garbage they say. It just doesnt make any sense to me.
When the bust started, fingers pointed toward mortgage brokers, who were forced to fend for themselves against onerous legislation. Slowly, the truth came out. Lending firms folded as their lines of credit failed. Wall Street investment banking firms failed as their real estate-backed securities went bust. Freddie Mac and Fannie Mae became insolvent. In a rush to stop the bleeding, the federal government took control. Recent victims of the bust have been huge banks. Quiet while brokers were blamed, banks issued billions in subprime loans and took huge losses. With time working against them, the weight of subprime losses became a reality.
The cause? In the late 1990s, President Clinton set a goal to increase loans to low and moderate-income Americans. Congress forced Fannie and Freddie to lower their lending guidelines. Mortgage-backed securities were gobbled up by investors, and Wall Street sought out lending firms that could supply these higher-risk mortgages. President Bush echoed the call and encouraged more lending, creating subprime products. More buyers meant less inventory, and prices skyrocketed.
Iv given every other administration 2years to prove what they have had to say. I will give this administration a chance aswell.
After persuading lawmakers to keep earmarks off the stimulus bill, Obama made no such attempt on the first non-emergency spending measure of his presidency. The result was that lawmakers claimed billions in federal funds for pet projects — a total of 8,570 earmarks at a cost of $7.7 billion, according to Taxpayers for Common Sense. Majority Democrats declined to provide a number of earmarks, but said the cost was far smaller, $3.8 billion, 5 percent less than a year ago. Among the earmarks was one sponsored by Rep. Howard Berman, D-Calif., who secured $200,000 for a "tattoo removal violence outreach program" in Los Angeles. Aides said the money would pay for a tattoo removal machine that could help gang members or others shed visible signs of their past, and anyone benefiting would be required to perform community service. Rep. Mark Kirk, R-Ill., said the bill included at least a dozen earmarks for clients of PMA Group, a lobbying company now at the center of a federal corruption investigation. "It’s simply not responsible to allow a soon-to-be-criminally indicted lobbying firm to win funding, all borrowed, in this bill," he said. No charges have been filed against the firm or its principals, although the company’s offices were raided earlier this month, and it has announced plans to disband by the end of the month. Federal prosecutors are investigating PMA Group’s founder and president, Paul Magliochetti, who is a former top aide to Rep. John Murtha, D-Pa., chairman of the House Appropriations subcommittee that funds defense programs. In remarks on the House floor, Republican leader John Boehner urged Obama to veto the legislation, citing earmarks. At the White House, press secretary Robert Gibbs responded only in general terms whether that was possible.
In the 6 years of conservative majority in congress and in the whitehouse, where the hell was Beck if he actually believes his garbage? When Bush waged an unconstitutional war where the hell was beck? Oh wait he supported the war, the one thats costing us over $600 billion, the one thats costing us $200 million a day. Where the hell was beck when the Bush administration increased spending on military by over $1 trillion (excluding Iraq). The man was nowhere to be seen.
You want me to further show you howmuch of neocon hack Beck is?
If you're noticing, Beck has impeccable timing, rather convenient I'll say. As for you, I don't think you're a pro like beck.
Originally posted by Jazzyguy
reply to post by David9176
Glenn Beck moving to Fox News Channel (duh)
Do you think Beck is a pro? A hired mouthpiece.
edit to add:
What WISHADOW said. star for WISHADOW
[edit on Thu, 26 Feb 09 by Jazzyguy]