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Originally posted by mental modulator
I am not going to let JSO or you completely re write history
A reader sends along this New York Times article written by Stephen Labaton and published on September 11th, 2003:
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.
The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac—which together have issued more than $1.5 trillion in outstanding debt—is broken.
Guess who opposed this new regulation? Homebuilders, who didn’t want it to get more difficult to get a home loan, and Democrats who didn’t want to go back on their demands that everyone (including people who couldn’t afford it) should own a home.
Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.
’‘These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis,’’ said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ‘‘The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.’‘
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
’‘I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,’’ Mr. Watt said.
President Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the economy from participants in the latest Wall Street Journal forecasting survey. ....
On average, they gave the president a mark of 59 out of 100, and although there was a broad range of marks, 42 percent of respondents graded Obama below 60. Geithner fared even worse, with an average grade of 51. Federal Reserve Chairman Ben Bernanke scored better, with an average 71.
"The Obama team has blown it," said David Resler of Nomura Securities.
Originally posted by jsobecky
Can a president be impeached for sheer incompetence? If so, Obama should be impeached at the end of his 100 day 'honeymoon'.
Today marks Day 50 of his administration. In that short period of time, he has managed to commit almost a blunder a day. If he were to receive a mid-term grade, it would be a solid F.
Some of his more egregious blunders:
During the first month of his administration, he spent more than Bush did on two wars, and Katrina relief and rebuilding
He has committed diplomatic blunders with UK PM Gordon Brown
He has proposed taxes that will cause an inflationary spiral, when imposed
He has committed to an assault weapon ban
He has targeted private citizens for disagreeing with his policies
He has broken campaign promises on hiring lobbyists
He has broken campaign promises on stopping partisanship
He has used porkulus and earmarks to pay back his political cronies
He has supported the Card Check bill, which eliminates the secret ballot in union votes
He has proposed sitting down with the Taliban
He wants to plunge this nation into a socialist economy.
He is losing support from the electorate every day. Even his loudest supporters are abandoning him. It won't be long before the Democratic Congress turns against him, as the 2010 elections approach.
People were warned about his lack of experience. His incompetence, however, outdoes any lack thereof.
Originally posted by skeptic_al
And you forgot one more reason he should be Impeached,
I don't know if you've noticed, but He's BLACK....
Originally posted by ManBehindTheMask
P.S Ive been reading alot of NY times, CNN, Fox News, there seems to be a lot of buyers remorse all the way around for voting for this guy, pretty telling.
Deny Ignorance indeed
"My son, who is in 1st grade, came home yesterday saying that he didn’t want to go back to school anymore. So I asked him why? He said that during the Pledge of Allegiance the teacher put up a large image of Obama next to the flag. I asked him if he was sure of this and I suggested to him that maybe the teacher just put up an 8x10 photo of the president. He said, “No, it is a large picture of Obama and when we are done Ms. **** turns off the image.” I also asked if they did this for Bush last year. He again said, “No.” This was my son’s first day back to school since before Christmas, he was on a 5 week track break.
My wife volunteers a couple of days each week with helping out with my son’s teacher doing various duties. She said that she would come in early this morning to see what was going on. She just got back and reported that this was true and then some. She said she waited out in the pod area and could see inside 3 of the 5 class rooms in this section of school. She said that when the kids stand each teacher flips on the classroom overhead and a full body image of Obama, with six U.S. flags behind him, comes up about 4 feet away from the flag that hangs on the wall. She said that the image has Obama staring straight at you with no facial expressions, just a serious look.
I asked my wife if Obama had his hand over his heart. She said that she was so taken aback by this that she didn’t see it. What is worse is she said that all of the kids in each class faced Obama instead of the flag that hangs in the corner. This is happening in the Clark County School District here in Las Vegas, Henderson area." Posted 02/12 at 01:10 PM
Originally posted by JMasters
Stop yelling at the repair man and blame the drunken guy who put his foot through the screen of your telly.
Originally posted by JMasters
Fox News and both sides do not belong in the same sentence. The one person they had that wasn't a rabid right winger left because he got tired of being told to stfu by the other host.