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Thread: President Bush's Home Ownership Challenge is to blame for the current economic mess

  1. #21
    Assistant Admin Ken's Avatar
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    Quote Originally Posted by Izzo View Post
    If anyone needs to do any reading it's you, bud. Are you denying the republicans controlled congress in '94? You do know how the whole bill becomes law thingy works, right?
    Yeah, you may want to quit posting and read before you eat more crap...

    103rd Congress (1993-1995)

    Majority Party: Democrat (57 seats)

    Minority Party: Republican (43 seats)

    Other Parties: 0

    Total Seats: 100

    Note: Party division changed to 56 Democrats and 44 Republicans after the June 5, 1993 election of Kay B. Hutchison (R-TX).

  2. #22
    Moderator David's Avatar
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    Quote Originally Posted by frostybear View Post
    I know, really sad that people will not take a few min to think about stuff like this among other legislation because they feel it is the only thing that will save them that very second...short-sighted..sigh
    Consider though, it is a rather anti-Libertarian notion to place greater restrictions. It is one of those political paradoxes. In addition, permitting corporations to get so large, that their demise would have global catastrophic effects should have been staunched.

    If the purchasers of the homes and mortgages use their heads for more than hat racks, they might have better realized the chances they were taking. I do not blame them, as they were conned.

    Betcha Ron Paul can't wait to get a hold of Bernanke's ear.

    Hell_Yes

    Luck is where preparation meets opportunity - Seneca

    "Anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that 'my ignorance is just as good as your knowledge.'" - Isaac Asimov

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  3. #23
    ♫♪ ♫♪ ♫♪ ♫♪ downhill's Avatar
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    Foundation? True, it was there, Ken. The difference being was that oversights were removed later.

  4. #24
    Moderator David's Avatar
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    Quote Originally Posted by Ken View Post
    Yeah, you may want to quit posting and read before you eat more crap...
    The Republicans were elected in November 1994, and yes... took over in 1995.... The contract with America.


    You are correct, the corruption is on both sides.

    Hell_Yes

    Luck is where preparation meets opportunity - Seneca

    "Anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that 'my ignorance is just as good as your knowledge.'" - Isaac Asimov

    It is my ambition to say in ten sentences what others say in a whole book. - Friedrich Nietzsche

  5. #25
    Quote Originally Posted by Ken View Post
    Ken, I realize you and Stonecat like to set aside logic for the sake of party unity but please try and be objective. You're right, they gained control in '94 and it's been their problem since and they did nothing to fix despite the fact everyone saw it coming. The quote from the article you posted....you read it but didn't really understand it, did you?

    A 1992 study by the Federal Reserve Bank of Boston concluded that Fannie Mae's underwriting guidelines, which defines credit qualification on the basis of income and debt, was skewed to benefit whites over blacks.
    So, the Fed does a study and determines that minorities are being left out in the cold...literally and figuratively....and you blame Clinton

    Here, this one is a little more recent... only by 10 years

    http://money.cnn.com/2004/06/17/real...sing/index.htm

    Builders to fight Bush's low-income plan
    Groups ask HUD to rethink plan that would increase financing of homes to low-income people.
    June 17, 2004: 12:24 PM EDT

    NEW YORK (CNN/Money) - Home builders, realtors and others are preparing to fight a Bush administration plan that would require Fannie Mae and Freddie Mac to increase financing of homes for low-income people, a home builder group said Thursday.

    The National Association of Home Builders, along with the National Association of Realtors and the Mortgage Bankers Association, are drafting a letter to Alphonso Jackson, secretary of the Department of Housing and Urban Development (HUD), arguing that middle-income home buyers are the ones that will get hurt by the proposed plan, the NAHB told CNN/Money

    The points being raised by the groups have also mirrored objections raised by Fannie (FNM: Research, Estimates) and Freddie (FRE: Research, Estimates). Both GSEs said they favor more efforts to promote affordable housing, but say HUD has made some unrealistic assumptions about how much more the GSEs can do over the next few years, the Journal said.



    It appears, pretty much, that you don't like black people.

    Have a nice day

  6. #26
    Quote Originally Posted by Ken View Post
    Yeah, you may want to quit posting and read before you eat more crap...
    Oh, I beg to differ, sir, as it's not my breath that reeks of poo.

  7. #27
    Moderator YeOldeStonecat's Avatar
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    Quote Originally Posted by Ken View Post
    Yeah, you may want to quit posting and read before you eat more crap...


    QFT post of the year award!
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  8. #28
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    Quote Originally Posted by David View Post
    Consider though, it is a rather anti-Libertarian notion to place greater restrictions. It is one of those political paradoxes. In addition, permitting corporations to get so large, that their demise would have global catastrophic effects should have been staunched.

    If the purchasers of the homes and mortgages use their heads for more than hat racks, they might have better realized the chances they were taking. I do not blame them, as they were conned.

    Betcha Ron Paul can't wait to get a hold of Bernanke's ear.
    One thing to also think about is that almost all these politicians get large of amounts of cash from all these institutions not excluding the energy companies, oil, etc.. to pass legislation that helps out the corporations as opposed to what is best for the people, and add to that that the politicians have stock in these companies (Not all politicians) so it is only fattening up their wallets more. Then when things get bad, we the tax payer, have to get ripped off again by the same people who put us here and bail them-out with no return. When you have both the democrats & republicans look the other way while getting campaign contributions (Putting their eggs in every basket as to insure a win no matter who gets in office) there is something very wrong. Restrictions are one thing but deregulating and giving them basically free reign is disasterous. For RP being the crazy guy everyone says he is has been calling this for a long time now...among other things.. by the way is the pond almost done

  9. #29
    If you're going to bring up evidence of something that doesn't exist plese try and make something from this century .....mmmmkay?

  10. #30
    Moderator YeOldeStonecat's Avatar
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    Speaking of "evidence"....or proof..lets review the above burning again....

    Quote Originally Posted by Izzo View Post
    Who controlled Congress in '94? Um, yeah. Nice try, though.
    Quote Originally Posted by Izzo View Post
    If anyone needs to do any reading it's you, bud. Are you denying the republicans controlled congress in '94?


    Quote Originally Posted by Ken View Post
    http://www.senate.gov/pagelayout/his...s/partydiv.htm
    [ 103rd Congress (1993-1995)

    Majority Party: Democrat (57 seats)

    Minority Party: Republican (43 seats)]

    Oh, ...here you go, brains...
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  11. #31
    Quote Originally Posted by YeOldeStonecat View Post
    Speaking of "evidence"....or proof..lets review the above burning again....
    Nice attempt to deflect and I corrected myself with regard to the date the neo tards took control of congress but I find it rather convenient that you disregarded the article I posted about Bush and Fannie and Freddie..... Typical republican logic......none. To think that the actions Clinton took almost 15 years ago somehow contributed to this as opposed to legislation only 4 years borders on mental illness.

  12. #32
    Moderator YeOldeStonecat's Avatar
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    Oh there's no deflection...it's a pure case of me putting the spotlight on the spill, of hitting rewind, of capturing that moment for future amusement..that's right...amusement.

    Here..take a truckload of towels to wipe all that egg off of your face.

    Yeah..Pelosi for Prez right?
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  13. #33
    Quote Originally Posted by YeOldeStonecat View Post
    Oh there's no deflection...it's a pure case of me putting the spotlight on the spill, of hitting rewind, of capturing that moment for future amusement..that's right...amusement.

    Here..take a truckload of towels to wipe all that egg off of your face.

    Yeah..Pelosi for Prez right?
    You better just stick to networking....critical thinking and logic ain't your thing.

    edit> Oh, are you going to acknowledge the Bush legislation for the poor or does it just go in one and out the other, too?

  14. #34
    Maneater JawZ's Avatar
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    Quote Originally Posted by Ken View Post
    JC has nothing to do with this... You were the one that posted it was all Bush's fault... The truth is, the foundation was way before Bush...

    Ken, JC has everything to do with this based on this statement made by him which you conveniently ignore:

    Quote Originally Posted by JC View Post
    The dems, yes the dems killed reform of Freddie Mac and Fannie May. Correct me if I'm wrong, but Senator Mccain sponsored that bill.

    The dems DEMANDING banks give loans to people who were unquallifed caused most of this.


    So back to my question which you continue to avoid....are you going to level the same logic AGAINST JC or not?

    so if you are going to selectively render judgment on my posts and level the playing field as you said, then all that is accomplished is a hostile battlefield.

    So again, are you going to say something publicly to JC or not?

    ...formerly the omnipotent UOD

  15. #35
    Moderator David's Avatar
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    FrostyBear,

    I have this nagging sensation that somehow those aligned with the President are making a fortune. Our government is brokering deals with JPMorgan Chase, ingesting major financial institutions for pennies on the dollar. Odd, the AIG boondoggle elaborated the danger of any such corporation getting too large...

    The pond is coming along slowly at this point. The three children are keeping me rather occupied .

    Hell_Yes

    Luck is where preparation meets opportunity - Seneca

    "Anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that 'my ignorance is just as good as your knowledge.'" - Isaac Asimov

    It is my ambition to say in ten sentences what others say in a whole book. - Friedrich Nietzsche

  16. #36
    Regular Member vc_wannabe's Avatar
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    Or the dems who passed laws to make banks give people loans even if the bank KNEW they could not pay them back. Then when the people couldnt pay they blocked the banks from being able to collect on their loans...
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  17. #37
    ♫♪ ♫♪ ♫♪ ♫♪ downhill's Avatar
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    Quote Originally Posted by vc_wannabe View Post
    Or the dems who passed laws to make banks give people loans even if the bank KNEW they could not pay them back. Then when the people couldnt pay they blocked the banks from being able to collect on their loans...
    Well now...there's the rub. Once more, we get to see a drive by post.

    Show us the beef.

  18. #38
    Advanced Member tr87526's Avatar
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    Quote Originally Posted by UOD View Post
    http://www.whitehouse.gov/news/relea...0040809-9.html


    This is where he directed Fannie and Freddie to put up $440 Billion for folks with bad credit.


    And some of you are supporting McCain having to leave his campaign idle in order to deal with this issue.....LMFAO!!!!!

    And? Good plan that was abused and mis-managed. Your posts are as misleading as media headlines.

  19. #39
    Quote Originally Posted by vc_wannabe View Post
    Or the dems who passed laws to make banks give people loans even if the bank KNEW they could not pay them back. Then when the people couldnt pay they blocked the banks from being able to collect on their loans...
    Explain to me how these banks were "made" to give people bad loans? There's underwriting for a reason. And it wasn't the Dems....

  20. #40
    Maneater JawZ's Avatar
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    Quote Originally Posted by tr87526 View Post
    And? Good plan that was abused and mis-managed. Your posts are as misleading as media headlines.

    A good plan constitutes giving away $440 Billion to folks with bad credit?









    ...formerly the omnipotent UOD

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