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Independent Thinker
The whole world was dragged down by the subprime mortgage mess created in the USA.
Yes, which was created largely by irresponsible Democrats such as Barney Frank and Christopher Dodd.
The whole world was dragged down by the subprime mortgage mess created in the USA.
Um....meme? They haven't been in office a month yet.
I think they get at least another couple of weeks.
so obama lied when he said he was ready to hit the ground running? so according to you, obama is not ready to be president?
or are you joking
so obama lied when he said he was ready to hit the ground running? so according to you, obama is not ready to be president?
or are you joking
This is the one. Bumping for anyone who hasn't seen it yet.
This is the one. Bumping for anyone who hasn't seen it yet.
Sure he did....we had 6+ years of FULL employment, won a war, and protected the US mainland from terrorists attacks....all while battling an unfriendly and untruthful media and obstructionists minority party.....
this guy proved - on that other board that I left - that he absolutely HATES Obama. It was irrational racist bigotry at its best. Every thread that had something to do with how terrible Obama was or how he wasn't really a citizen or how he probably was a muslim or how he was a coke addict... you name it... EVERY thread like that yurt either started or was a major contributor to. It was his cause celebre.
Yes, which was created largely by irresponsible Democrats such as Barney Frank and Christopher Dodd.
yeah, you saying obama is not ready....why would you want to show people that again?
(shrugs)
Another "honest deception" I see.
Could you please point to the post where I said Obama "isn't ready"?
And what's really sad is you know that behind the facade it's really Obama's race that is the issue. At least my red neck brother in law was honest enough to say "I aint voting for a niger!".
I rather doubt you'll see that sort of honesty from Spurt.
Ahh another Rush Limbaugh fan. Ehh Toby?
January 23, 2009
Barney Frank, the Teflon Congressman
Sammy Benoit
Barney Frank is the "Teflon Congressman. He was a leading opponent of regulating Fannie Mae and Freddy Mac (see video) and was able to transfer the entire blame on President Bush. He never had to answer why he fought so hard to squash regulation, was it the tons of campaign cash Frank got from Freddie and Fannie or the fact that Frank's former lover was the former director of housing initiatives for Fannie Mae.
On October 20, 2008 Fox News reported Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up in 1998, but prior to that Frank had pushed through some controversial legislation favorable to Fannie. A 1998 Washington Post report said Frank called Moses his "lover" and that the two were "still friends" after the breakup.
Of course no one calls Barney on it even though, according to his words they should:
Frank has argued that family life "should be fair game for campaign discussion," wrote the Associated Press on Sept. 2. The comment was in reference to GOP vice presidential nominee Sarah Palin and her pregnant daughter. He continued with, "They're the ones that made an issue of her family," the Massachusetts Democrat said to the
Well Barney since you argued that it should be fair game, shouldn't we be investigating whether you got direction from Moses (and I am not talking about the Ten Commandments).
Frank aggressively fought reform efforts by the Bush administration. He told the NY Times in 2003; Fannie Mae and Freddie Mac's problems were "exaggerated,"
"These two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis," Frank Opined to the Times. "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." New York Times Sept. 11, 2003....
Why We Just Can't Trust Dodd
Stunning Blunder Just Another Strand In Web Of Explanations
Kevin Rennie * NOW YOU KNOW
February 8, 2009
Sen. Christopher J. Dodd went one contrivance too far last week at his carefully choreographed press event to explain his mortgage deals with Countrywide Financial. Dodd has engaged in so many contradictions in trying to manage the gathering storm that he probably did not recognize his stunning blunder.
At his Monday event, Dodd wouldn't let reporters have copies of the selected documents he let them glimpse. Instead, Dodd released a report from a Chicago firm hired with campaign funds to review his mortgage transactions. The report is carefully constructed to vindicate the Dodds and even make them appear to have fared worse than many other borrowers. It includes references to "detailed evaluation" of internal Countrywide documents that the mortgage giant used in processing the Dodds' applications for more than $800,000 in loans. The firm hired by Dodd, it's clear, had documents from Countrywide.
The report, which Dodd evidently sees as his invulnerable Maginot Line, is dated July 22, 2008. There is no indication that it has been updated or changed since then. On Friday, July 25, 2008, The Courant quoted Dodd declaring, "We've had very little response from" Countrywide to his request for information. He wanted to wait to release information "to make sure we have the full picture." The report Dodd distributed Monday had already been completed for three days when he made those comments.
Dodd knew at the end of July that not only had he obtained internal Countrywide documents that he now relies on for his murky defense, but he also had to have known that those documents had been given to a financial firm to review and apply to the market conditions that existed in 2003. ...
Oh fer sure..it's just gotta be because of Obama's skin color that those 48 million people voted against him..
so old and tiring and dishonest already
this guy proved - on that other board that I left - that he absolutely HATES Obama. It was irrational racist bigotry at its best. Every thread that had something to do with how terrible Obama was or how he wasn't really a citizen or how he probably was a muslim or how he was a coke addict... you name it... EVERY thread like that yurt either started or was a major contributor to. It was his cause celebre.
Sub prime mortgages have existed for many decades. They just weren't used by lenders much prior to the mid to late 1990's. The reason? They did not want to take the risk of having those loans on their books. So what happened?
http://www.sundriesshack.com/2008/0...ime-mortgage-mess-have-clinton-all-over-them/
A good article on how it started.
Bottom line, the Republicans and Democrats wanted more people to own homes. So they changed the rules. They forced banks to loan in low income neighborhoods and subprime loans exploded (as referenced in the article, this was highlighted by USA today back in 2004).
Add to that in 1992 Bush and the Democratic Congress began chipping away at Glass Steagall. Clinton and the Republican Congress continued to do so, culminating in its destruction in 1999. Bush jr. and the Republican Congress did nothing to put these regulations back in place. Even worse, the problem was greatly exagerated by Greenspan keeping interest rates at then historic lows for several years. This led to massive refi's and an over-inflated housing bubble.
Due to Glass Steagall being removed and the explosion in CDOs, lenders no longer cared if a subprime loan was issued because they did not have to keep those loans on the books. Freddie, Fannie and the Investment banks swept in and loaded up on these loans... either directly or via the CDOs. Then the ratings agencies compounded the mess by rating these packaged subprimes 'AAA'.
Borrowers obviously share in the blame to an extent as many who did not qualify for a 30 year fixed took out loans on properties they could not afford using ARMs. ARMs that were issued while rates were at historic lows. A recipe for disaster. For as soon as interest rates rose and the ARMs started to reset.... well, here we are.
mottley,
he is absolutely lying. i'm doing my best to stop the petty bullshit and he does nothing but continue it. he left that board in shame for lying, you really should not trust anything he says, and he has not left either, another lie. i know you don't like me, but i am not a racist and his post is nothing but a lie. i would hope that you are not the kind of person who thinks that just because you criticize obama you are automatically a racist.