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Originally posted by incrediblelousminds
Without veering this off topic, your comment is wildly inaccurate. Canadians are not flocking to the States for essential services, despite whatever skewed data youve read from teh Fraser Institute.
Originally posted by jimnuggits
reply to post by Soldier of God
Maybe you should read the whole post.
Not just the first line.
Or practice your reading comprehension.
I never said I agreed with every single thing he's done, I am certainly non-plussed about the wars.
Really, I expect very little from what is generally in our modern era, a figure head, but what I do expect, Barack Hussein Obama has delivered.
Like a personality.
And an ability to see that there is indeed more than one side of an issue.
Small things like that.
Why wouldn't it? This is America, indifference is the American Way!
Originally posted by allprowolfy
Did the hope and change turn into nothing indifferent
Originally posted by Aggie Man
Originally posted by allprowolfy
Obama states he is only a one term president, BUT many on this sight are quit, and i want to know why
I support Obama, but I don't feel the need to praise him daily; where as those that dislike him seemingly feel the need to hate on him daily. It's just that simple.
Originally posted by niceguybob
reply to post by Southern Guardian
Sou.. The U.S. is NEVER leaving Iraq in our lifetime.. Read anything you want. We're not leaving.
First Google's are Fox and Huffington so I wanted to be unbiased. I showed that website.
It's not about one President.
Obama sucks TOO...
Don't shoot the messenger for voices getting pissed.
Originally posted by neo96
i hate to burst peoples bubbles here but outsourcing did not lead to the housing crisis.
the creation of fanny and freddy and dodds and franks over manipluation and the over manipulation of guaranteed government mortgages led to that bubble bursting.
Originally posted by jimmyx
the republicans have been doing everything they can to make the president look bad, even if it means screwing the american people. republicans have been stopping appointments to critical government positions ever since Obama has been elected. the republicans DO NOT WANT this country to function with Obama as president. it's so blatant, that i personally would like to see republican leadership arrested for sedition and brought to trial.
but it won't happen...and with the right-wing supreme court ruling on allowing corporations (american and foreign) to donate unlimited millions to elections... this might be the last democratic president we see in this country.
my prediction....any type of money going to the poor or middle class to help them out, will be gone in ten years or less, plus corporate taxes will be nill or very little, and the wealthy will be paying little if anything in income taxes, all due to the right-wing republicans.
Originally posted by neo96
reply to post by Southern Guardian
BECAUSE GOVERNMENT FORCED THEM TO!
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
Originally posted by TheWalkingFox
reply to post by beezzer
This post is so utterly full of garbage that I can't possibly figure out where to start.
We're in the situation we're in now primarily due to the rampant deregulation and constant cuts demanded by people like you, insipid twits who honestly think that the deficit can be done away with by cutting taxes, who think jobs will be created by letting business move overseas, and who earnestly believe that gigantic tax breaks for the 0.5% will see massive increases in prosperity for the bottom 60%.
The people you're pissing on and calling it trickle-down almost universally have more personal responsibility to their name than you've ever glimpsed.
In 1999, Fannie Mae came under pressure from the Clinton administration to expand mortgage loans to low and moderate income borrowers by increasing the ratios of their loan portfolios in distressed inner city areas designated in the CRA of 1977. Because of the increased ratio requirements, institutions in the primary mortgage market pressed Fannie Mae to ease credit requirements on the mortgages it was willing to purchase, enabling them to make loans to subprime borrowers at interest rates higher than conventional loans. Shareholders also pressured Fannie Mae to maintain its record profits.
On September 10, 2003, the Bush Administration recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis. Under the plan, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae. The new agency would have the authority, which now rests with Congress, to set capital-reserve requirements for the company and to determine whether the company is adequately managing the risks of its portfolios. The Times reported Democratic opposition to Bush's plan: "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
On January 26, 2005, the Federal Housing Enterprise Regulatory Reform Act of 2005 (S.190) was first introduced in the Senate by Sen. Chuck Hagel. The Senate legislation was an effort to reform the existing GSE regulatory structure in light of the recent accounting problems and questionable management actions leading to considerable income restatements by the GSE's. After being reported favorably by the Senate's Committee on Banking, Housing, and Urban Affairs in July 2005, the bill was never considered by the full Senate for a vote. Sen. John McCain's decision to become a cosponsor of S.190 almost a year later in 2006 was the last action taken regarding Sen. Hagel's bill in spite of developments since clearing the Senate Committee. Sen. McCain pointed out that Fannie Mae's regulator reported that profits were "illusions deliberately and systematically created by the company's senior management" in his floor statement giving support to S.190.
This Law was filibusted in the Senate by 2 Senators. Chris "double dip" Dodd and the most Liberal Member of the Senate, Barack Huessin Obama.
A group called the Center for Responsive Politics keeps track of which politicians get Fannie and Freddie political contributions. The top three U.S. senators getting big Fannie and Freddie political bucks were Democrats and No. 2 was Sen. Barack Obama.
Do you remember how we told you that the Democrats and groups associated with them leaned on banks and even sued to get them to make bad loans by abusing the Community Reinvestment Act (see HERE and HERE)? The abuse of this act by ACORN and officials like Janet Reno was a factor in causing the economic crisis. The harassment suits filed under this act were used to get banks to lower credit standards and hand out high risk loans. We have dug up the lawsuit below while researching Obama’s legal career. It is a typical example of an ACORN harassment lawsuit.
In these lawsuits, ACORN makes a bogus claim of Redlining (denying poor people loans because of their ethnic heritage). They protest and get the local media to raise a big stink. This stink means that the bank faces thousands of people closing their accounts and get local politicians to lobby to stop the bank from doing some future business, expansions and mergers. If the bank goes to court, they will win, but the damage is already done because who is going to launch a big campaign to get the bank’s reputation back?
It is important to understand the nature of these lawsuits and what their purpose is. ACORN filed, or threatened to file, tons of these lawsuits and ALL CRA suits allege racism (usually the press involved and such with the threat of the CRA lawsuit is enough to get the bank to give in and put them in a catch 22, they also had a willing Janet Reno Justice Department to work with – see below for more on Reno). As we have said in our series or articles analyzing every aspect of this story (links at the very bottom of this post), the series of ACORN harassment lawsuits and intimidation against banks to lower credit standards was not the sole reason for the mortgage crisis, it was one important layer of many that brought us to the mortgage crisis and the largest financial scandal in the history of the world.