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Deadly foursome wrote on Oct 29, 2008 6:03 AM:
I'd suggest looking into Goldman Sachs and who exactly has contributed to the campaign funds of Dodd, Pelosi, Reid, and Obama.
Especially in light of just who supported that bailout.
Pot = Kettle = black
Especially in light of just who supported that bailout.
Pot = Kettle = black
Janice wrote on Oct 17, 2008 12:49 PM:
John McCain pushed For Fannie And Freddie regulation while Obama Was notably silent.
Obama solicits advice and campaign contributions from executives and board members from the failed mortgage broker.
Obama solicits advice and campaign contributions from executives and board members from the failed mortgage broker.
Rock the vote wrote on Oct 14, 2008 10:18 AM:
Obama’s Campaign “Paid More Than $800,000” To ACORN For Get-Out-The Vote Efforts
The campaign originally misrepresented the groups work with the Federal Election Commission
“U.S. Sen. Barack Obama's presidential campaign paid more than $800,000 to an offshoot of the liberal Association of Community Organizations for Reform Now for services the Democrat's campaign says it mistakenly misrepresented in federal reports. An Obama spokesman said Federal Election Commission reports would be amended to show Citizens Services Inc. -- a subsidiary of ACORN -- worked in ‘get-out-the-vote’ projects, instead of activities such as polling, advance work and staging major events as stated in FEC finance reports filed during the primary.”
(David M. Brown, “Obama To Amend Report On $800,000 In Spending,” Pittsburgh Tribune Review, 8/22/08)
The campaign originally misrepresented the groups work with the Federal Election Commission
“U.S. Sen. Barack Obama's presidential campaign paid more than $800,000 to an offshoot of the liberal Association of Community Organizations for Reform Now for services the Democrat's campaign says it mistakenly misrepresented in federal reports. An Obama spokesman said Federal Election Commission reports would be amended to show Citizens Services Inc. -- a subsidiary of ACORN -- worked in ‘get-out-the-vote’ projects, instead of activities such as polling, advance work and staging major events as stated in FEC finance reports filed during the primary.”
(David M. Brown, “Obama To Amend Report On $800,000 In Spending,” Pittsburgh Tribune Review, 8/22/08)
Working girl wrote on Oct 14, 2008 7:57 AM:
ACORN was one of the sticking points of the economic bailout. The contention was whether 20 percent of the profit proceedings for asset sales in the future would go to what is called the Housing Trust Fund, one of these groups that this trust supports is ACORN.
Sen. Obama represented a 1994 lawsuit against Citibank, charging the bank systematically denied mortgages to African-American applicants and others from minority neighborhoods, which could not afford them.
ACORN has been implicated in voter fraud and bogus registration schemes in Ohio and at least 13 other states.
Nevada Secretary of State and Attorney General has alleged that ACORN hired felons as canvassers and submitted apparently fraudulent voter registration cards as part of the drive.
Sen. Obama may not have known about what happened in Nevada, but it is one more scandal from a list of associations from his past.
How can we put a man into the highest position of our country knowing he has friends that have blown up the pentagon, sat in a church where the Pastor hates America, and has sued for bad mortgages that broke our economy?
Sen. Obama represented a 1994 lawsuit against Citibank, charging the bank systematically denied mortgages to African-American applicants and others from minority neighborhoods, which could not afford them.
ACORN has been implicated in voter fraud and bogus registration schemes in Ohio and at least 13 other states.
Nevada Secretary of State and Attorney General has alleged that ACORN hired felons as canvassers and submitted apparently fraudulent voter registration cards as part of the drive.
Sen. Obama may not have known about what happened in Nevada, but it is one more scandal from a list of associations from his past.
How can we put a man into the highest position of our country knowing he has friends that have blown up the pentagon, sat in a church where the Pastor hates America, and has sued for bad mortgages that broke our economy?
Voting for McCain wrote on Oct 13, 2008 6:48 PM:
".....had his hands on the purse strings of two organizations. He was a director of the Woods Fund, and he was Chairman of the Board of the Chicago Annenberg Challenge (CAC)."
"Barack Obama, elected by the Board of Directors as founding chairman and president of the Chicago Annenberg Challenge (1995–1999), resigned as chairman and president in September 1999."
So....
What Obama did 9 years ago shows up now in the Market crash?
Kinda reaching, aint ya?
And as to ACORN...
"Letting the heavy-hitters at the Justice Department make the arguments appears to have been a sound strategy -- Obama's side won, even without him talking."
Thats right...when Obama represented ACORN in court, it was right along side Federal prosecutors who were also suing Republican Gov. Jim Edgar, who refused to implement the Federal "Motor Voter" law.
The law mandated people be allowed to register to vote in government offices such as driver's license renewal centers. (scary!!1!!1!)
"Barack Obama, elected by the Board of Directors as founding chairman and president of the Chicago Annenberg Challenge (1995–1999), resigned as chairman and president in September 1999."
So....
What Obama did 9 years ago shows up now in the Market crash?
Kinda reaching, aint ya?
And as to ACORN...
"Letting the heavy-hitters at the Justice Department make the arguments appears to have been a sound strategy -- Obama's side won, even without him talking."
Thats right...when Obama represented ACORN in court, it was right along side Federal prosecutors who were also suing Republican Gov. Jim Edgar, who refused to implement the Federal "Motor Voter" law.
The law mandated people be allowed to register to vote in government offices such as driver's license renewal centers. (scary!!1!!1!)
My reason for voting for McCain wrote on Oct 13, 2008 7:39 AM:
How did we get into this financial mess in the first place? Well, to a large degree, it's because lenders gave mortgages to borrowers who were unqualified, who shouldn't have been given loans in the first place. Why did they do that.... Obama at the time had his hands on the purse strings of two organizations. He was a director of the Woods Fund, and he was Chairman of the Board of the Chicago Annenberg Challenge (CAC). He gave money from both organizations to ACORN, and also provided training for ACORN workers. According to Stanley Kurtz of National Review Online, 'ACORN succeeded in drawing Fannie Mae and Freddie Mac into the very policies that led to the current disaster.' ACORN put pressure on banks by threatening them with accusations of racism if they didn't give loans to minorities, even if they were completely unqualified.
Tony wrote on Oct 11, 2008 9:12 AM:
This American election will decide whether civilization as we know it will survive. As much as economic questions are currently front and center, with blame to go all round, this is not an election primarily about corporate greed, or individuals living beyond their means, or government neglect of economic oversight. Nor is it about whether we should have gone into Iraq where, like it or not, American boots on the ground have begun to create an emerging democracy. Isn’t it about time that we got to the point about the stakes in this election? How many more pundits do we have to watch talking about the minutae — a candidate’s look, an accent, a stumble, a slogan? We have three weeks to talk about the thing that matters most: a nuclear-armed Iran, and which candidate will prevent it.
Nerve wrote on Oct 9, 2008 3:23 PM:
"Wow, guess what, my husband and I both graduated from high school, Oh and guess what, we both have college degrees, oh, and we both live on the south coast."
Well good for you both. Now, since its obvious you are both educated folk, want to explain why you care to vote McCain/Palin?
You have 200 words, go!
Well good for you both. Now, since its obvious you are both educated folk, want to explain why you care to vote McCain/Palin?
You have 200 words, go!
R U kidding wrote on Oct 9, 2008 3:20 PM:
Now come GOP apologists to identify the real perps of the Wall Street meltdown: Jimmy Carter,
Bill Clinton, feckless black folks, Mexican Americans and U. S. Rep. Barney Frank, who’s evidently
been covertly running Wall Street all this time.
See, while you fretted over Bush screw ups in Iraq, Afghanistan and New Orleans, a sinister, dusky
cabal built a speculative bubble in ghetto real estate. Overpriced luxury condos were constructed with
borrowed money in fashionable Harlem, Watts and the south side of Chicago; also, downtown Atlanta,
Newark, St. Louis, Detroit, Memphis and Philadelphia. In Monopoly terms, the entire U. S. economy
drained into a black hole of defaulted loans on Baltic and Mediterranean.
So how come you haven’t heard this before ? Maybe because you don’t spend enough time watching
FOX News or listening to GOP talk radio. In those precincts, the real cause of the national (and world )
financial debacle turns out to be an obscure 1977 law known as the Community Reinvestment Act, or CRA.
'nuff said.
Bill Clinton, feckless black folks, Mexican Americans and U. S. Rep. Barney Frank, who’s evidently
been covertly running Wall Street all this time.
See, while you fretted over Bush screw ups in Iraq, Afghanistan and New Orleans, a sinister, dusky
cabal built a speculative bubble in ghetto real estate. Overpriced luxury condos were constructed with
borrowed money in fashionable Harlem, Watts and the south side of Chicago; also, downtown Atlanta,
Newark, St. Louis, Detroit, Memphis and Philadelphia. In Monopoly terms, the entire U. S. economy
drained into a black hole of defaulted loans on Baltic and Mediterranean.
So how come you haven’t heard this before ? Maybe because you don’t spend enough time watching
FOX News or listening to GOP talk radio. In those precincts, the real cause of the national (and world )
financial debacle turns out to be an obscure 1977 law known as the Community Reinvestment Act, or CRA.
'nuff said.
Hey Mr E wrote on Oct 9, 2008 12:31 PM:
Wow, guess what, my husband and I both graduated from high school, Oh and guess what, we both have college degrees, oh, and we both live on the south coast.
Vote McCain/Palin
Vote McCain/Palin
Tucker wrote on Oct 9, 2008 11:26 AM:
Dear Roger:
Keep drinking the Cool-Aide. You can spit out garbage like this but the folks know the truth about our financial state.
Keep drinking the Cool-Aide. You can spit out garbage like this but the folks know the truth about our financial state.
To Rush Fans wrote on Oct 9, 2008 8:19 AM:
OBAMA will win Oregon ALL electoral votes will go to him, deal......
who cares wrote on Oct 8, 2008 3:55 PM:
who cares how we got here, at this point, how do we get out of this mess?
Hey Crescendo wrote on Oct 8, 2008 3:44 PM:
You did not refute one point the strawman made...not one.
Hate to out you but obviously, you are a Republican.
Hate to out you but obviously, you are a Republican.
Stupendo wrote on Oct 8, 2008 3:42 PM:
"Your comment about Clinton validates my assessment of this situation."
What, another strawman? Dude! Your are on fire today!
I did not in anyway validate your republican reasoning and projection of the issue on to those who HAVE NOT been in power in, oh, I dont know, 8 years?
Gosh, I did not know Frank and Maxine had so much power!
Whaddya saying, the minority party beat up B*sh for these deregulations?
"takes years and years..." So, it is Ronny Rayguns fault?
Project your issues and guilt where it belongs, absolutely with the party in power...
I loathe those that pretend intellect.
(btw, you also own 9/11 and the Iraq war)
What, another strawman? Dude! Your are on fire today!
I did not in anyway validate your republican reasoning and projection of the issue on to those who HAVE NOT been in power in, oh, I dont know, 8 years?
Gosh, I did not know Frank and Maxine had so much power!
Whaddya saying, the minority party beat up B*sh for these deregulations?
"takes years and years..." So, it is Ronny Rayguns fault?
Project your issues and guilt where it belongs, absolutely with the party in power...
I loathe those that pretend intellect.
(btw, you also own 9/11 and the Iraq war)
Citizen wrote on Oct 8, 2008 3:24 PM:
The bottom line is not to treat your party as if it were some kind of cult religion. Democrats, Republicans and all the other parties out there, love the loyalty of those who participate in their party as if it was some kind of religion. Zealous people will follow their party line like goose stepping Nazis. Perhaps this would be where we should separate church and state... Stop falling in line and think independently. If you don't then you do no give depth to our countries' governence.
Crescendo wrote on Oct 8, 2008 3:15 PM:
Dear Strawman,
Your comment about Clinton validates my assessment of this situation. You, like too many Americans, have a myopic view of this. This didn't happen over night. It took years and years of both Republican and Democrat irresponsibilty. It just happens that Clinton threw gasoline on the embers and Barney, Maxine and friends threw in jet fuel. Those who have done their homework know exactly what I'm talking about. Even Clinton has owned up to it, which is remarkable. The facts are out there - all you have to do is dig for them.
Your comment about Clinton validates my assessment of this situation. You, like too many Americans, have a myopic view of this. This didn't happen over night. It took years and years of both Republican and Democrat irresponsibilty. It just happens that Clinton threw gasoline on the embers and Barney, Maxine and friends threw in jet fuel. Those who have done their homework know exactly what I'm talking about. Even Clinton has owned up to it, which is remarkable. The facts are out there - all you have to do is dig for them.
Franklin wrote on Oct 8, 2008 2:43 PM:
"The Republicans own this recession and economic meltdown-own it."
No, just like being the 'good Germans' before WWII, all Americans let this happen. So, let's learn from history, and never allow it to happen again.
The easy first step is to vote out Republicans, but the only way to really fix things is to hold Democrats accountable to their principles, and not let them continue to be Republican-lite alternatives to the repeatedly failed Conservative ideology.
No, just like being the 'good Germans' before WWII, all Americans let this happen. So, let's learn from history, and never allow it to happen again.
The easy first step is to vote out Republicans, but the only way to really fix things is to hold Democrats accountable to their principles, and not let them continue to be Republican-lite alternatives to the repeatedly failed Conservative ideology.
Get real wrote on Oct 8, 2008 9:36 AM:
Why is it that the media has not brought up the fact that Barney Frank writes housing and banking laws and his boyfriend is a top exec at a firm that stands to gain from those laws?
Imagine what the media would say if [GOP former] Chairman [Mike] Oxley’s wife or [GOP presidential nominee John] McCain’s wife was a top exec at Fannie for a decade while they wrote the nation’s housing and banking laws?
Imagine what the media would say if [GOP former] Chairman [Mike] Oxley’s wife or [GOP presidential nominee John] McCain’s wife was a top exec at Fannie for a decade while they wrote the nation’s housing and banking laws?
Both sides... wrote on Oct 8, 2008 7:20 AM:
are rotten.
Both Obama & McCain voted for this "bailout". A taste of what is to come.
Both sides take LOTS and LOTS of $$$ from SAME corporate interests.
Both sides don't give real solutions to real issues.
Both sides use scripts, teleprompters, makeup (not just Palin), and lie to us.
Both sides are corrupt.
Both sides work together to take down the middle class.
Once again, no choice, no change.
Both Obama & McCain voted for this "bailout". A taste of what is to come.
Both sides take LOTS and LOTS of $$$ from SAME corporate interests.
Both sides don't give real solutions to real issues.
Both sides use scripts, teleprompters, makeup (not just Palin), and lie to us.
Both sides are corrupt.
Both sides work together to take down the middle class.
Once again, no choice, no change.
Nice Strawman Crescendo wrote on Oct 8, 2008 6:34 AM:
Like the way you spun that mess of a comment.
"..not reign in the children".
Lets light that strawman on fire, shall we?
First Frank did not have 'oversite' (sic), there are 5 repukes on the board.
Second...less than 15% this mess can be attributed to defaulting mortgages, the rest lies squarely with Wall Street and manic 'investment packages' they sold one another, parlor tricks enabled by B*sh (who is STILL president).
Clinton? Has not been President in 8 years! 8 Years! Hello?
At least you did not blame Carter!
Grasping at straws will get you a strawman but its still a strawman.
The Republicans own this recession and economic meltdown-own it.
"..not reign in the children".
Lets light that strawman on fire, shall we?
First Frank did not have 'oversite' (sic), there are 5 repukes on the board.
Second...less than 15% this mess can be attributed to defaulting mortgages, the rest lies squarely with Wall Street and manic 'investment packages' they sold one another, parlor tricks enabled by B*sh (who is STILL president).
Clinton? Has not been President in 8 years! 8 Years! Hello?
At least you did not blame Carter!
Grasping at straws will get you a strawman but its still a strawman.
The Republicans own this recession and economic meltdown-own it.
Crescendo wrote on Oct 7, 2008 2:26 PM:
As a lifelong Independent I believe in the old adage that "there are three sides to every story: mine, yours, and somewhere in between lies the truth." Having done my homework on ACORN, CRS, Freddie Mac, Fannie Mae and the people responsible for oversite (Barney Frank) and for driving this thing into the ground (B. Clinton) I only have this to say: anyone who goes around blaming Republicans for this mess are ill-informed and have probably receive their best information from John Stewart. Having said that I blame the Republicans for not reigning in the children.
Vote early vote often wrote on Oct 7, 2008 12:34 PM:
My vote is for sale, the candidate with the best economic plan can buy it!
you wrote on Oct 7, 2008 10:00 AM:
The thing i love about mouthpieces is that they can stare down the facts and still ignore them.If i do something it's bad,if you do the exact same thing your gold.
Mr E wrote on Oct 6, 2008 2:27 PM:
Oh man. I really, really pray that some of you don't vote. You'll be doing the country I love a disservice....
Specifically, Eagles Perch, Obbie One Ben, Acorn, Gun Toting Christian need to learn themselves a book (or a factual argument). Many others could use an education.
But what else should I expect? The south coast is full of high-school dropouts who think they'd be world-class economists or Jeopardy winners.
Specifically, Eagles Perch, Obbie One Ben, Acorn, Gun Toting Christian need to learn themselves a book (or a factual argument). Many others could use an education.
But what else should I expect? The south coast is full of high-school dropouts who think they'd be world-class economists or Jeopardy winners.
Gun toting Christian wrote on Oct 6, 2008 10:07 AM:
Obama has requested over $930,000,000 in earmarks since he became a U.S. Senator.
He has only worked 145 days with the balance of his time being spend running for President.
McCain has been a U.S. Senator for over 20 years and has requested $0.00 in earmarks during that time.
To me, that says a lot about which candidate is fiscally reponsible. Furthermore, what happened to the $110-160 million dollars that Obama spent as director of the Chicago Annenberg Challenge?
It was supposed to be spent helping inner city schools in Chicago but was instead spent on helping friends of William Ayers, Jeremiah Wright, Tony Rezko and . . . of course Barack Hussein Obama.
He has only worked 145 days with the balance of his time being spend running for President.
McCain has been a U.S. Senator for over 20 years and has requested $0.00 in earmarks during that time.
To me, that says a lot about which candidate is fiscally reponsible. Furthermore, what happened to the $110-160 million dollars that Obama spent as director of the Chicago Annenberg Challenge?
It was supposed to be spent helping inner city schools in Chicago but was instead spent on helping friends of William Ayers, Jeremiah Wright, Tony Rezko and . . . of course Barack Hussein Obama.
pril wrote on Oct 6, 2008 8:04 AM:
you could stand around and point fingers till your arm fell off and nothing would come of it. Here we are- what do we do next?
Who is responsible wrote on Oct 6, 2008 7:28 AM:
The high-risk subprime mortgage social engineering community service experiment by left-wing ACORN and Obama has created the largest financial crisis since The Great Depression.
The full reach of the corruption and scandal may never be known but those who created it must not be rewarded. The architects, primarily left-wing Democrats, created laws, took donations, looked the other way and instead were too busy overseeing donations to their own presidential campaigns and robbing main street blind.
Now these same left-wing Democrats blame everyone else and get up on their high horses and say, "we are here to save you" from the crises they created.
The full reach of the corruption and scandal may never be known but those who created it must not be rewarded. The architects, primarily left-wing Democrats, created laws, took donations, looked the other way and instead were too busy overseeing donations to their own presidential campaigns and robbing main street blind.
Now these same left-wing Democrats blame everyone else and get up on their high horses and say, "we are here to save you" from the crises they created.
Mark M wrote on Oct 6, 2008 7:14 AM:
Some facts:
75% of CRA loans are good. CRA loans are low cost with very high retention rates. The CRA is not the problem here.
The FBI had been investigating this mess for fraud. Thus far it is finding that 80% of the bad sub-prime loans are attributed to predatory lenders while only 20% attributable to borrowers overreaching.
These laws were loosen up, regulations unenforced so that lending institutions could expand their markets, not so the Bush Administration could provide housing opportunities for the poor, even though that may have been Bush's cover from time to time. When has he ever been on the side of the poor?
The only resolution to this problem is a strong, effective government, a la Roosevelt's New Deal.
75% of CRA loans are good. CRA loans are low cost with very high retention rates. The CRA is not the problem here.
The FBI had been investigating this mess for fraud. Thus far it is finding that 80% of the bad sub-prime loans are attributed to predatory lenders while only 20% attributable to borrowers overreaching.
These laws were loosen up, regulations unenforced so that lending institutions could expand their markets, not so the Bush Administration could provide housing opportunities for the poor, even though that may have been Bush's cover from time to time. When has he ever been on the side of the poor?
The only resolution to this problem is a strong, effective government, a la Roosevelt's New Deal.
Ron - Alaska wrote on Oct 5, 2008 9:59 PM:
I notice there are no FACTS to back up your contention. But here's a couple for you to consider:
1) This Democrat Congress has never seen a congressional investigation it doesn't like, until now! Why? Because they can't find a Republican to pin it on.
2) As other commentors have mentioned, the Community Reinvestment Act.
3) This one is less known, the "Fair Value" regulation of the FASB. This one is as much to blame as any other reason anyone can come up with. As the value of the loans deminished, banks have to revalue there assets and recognize losses that did not occure. As the assets devalued, losses mounted and banks became insolvent. All on paper.
This crisis is simply a crisis created by Federal laws and regulations, and we're stupid enough to look to those who created this mess to correct it.
Can we define crazy!
1) This Democrat Congress has never seen a congressional investigation it doesn't like, until now! Why? Because they can't find a Republican to pin it on.
2) As other commentors have mentioned, the Community Reinvestment Act.
3) This one is less known, the "Fair Value" regulation of the FASB. This one is as much to blame as any other reason anyone can come up with. As the value of the loans deminished, banks have to revalue there assets and recognize losses that did not occure. As the assets devalued, losses mounted and banks became insolvent. All on paper.
This crisis is simply a crisis created by Federal laws and regulations, and we're stupid enough to look to those who created this mess to correct it.
Can we define crazy!
Thank ACORN and Cuomo wrote on Oct 5, 2008 1:49 PM:
What about Andrew Cuomo? "Junior" was a Clinton appointee for HUD from 1997 to 2001.
He made a series of bad decisions such as allowing Fannie Mae and Freddie Mac to move into the sub-prime markets without any regulatory mechanism.
He allowed the FHA to give out $0 down loans.
He legalized brokers receiving kickbacks for these loans which led to predatory lending.
Then Andy decided with a lot of help from ACORN, to provide unrealistic flexible loans to low-income families and minorities with little to no money down.
He made a series of bad decisions such as allowing Fannie Mae and Freddie Mac to move into the sub-prime markets without any regulatory mechanism.
He allowed the FHA to give out $0 down loans.
He legalized brokers receiving kickbacks for these loans which led to predatory lending.
Then Andy decided with a lot of help from ACORN, to provide unrealistic flexible loans to low-income families and minorities with little to no money down.
Grandma Moses wrote on Oct 5, 2008 11:47 AM:
Try the name Barny Franks if you want to know why we are in this mess.He shoved this bill through and if you didn't vote for it you were against ALL black people Or gay people.His Lover was the one got rich off this Bill and now Franks want to blame others. HE and his lover should be in prison for what they did.
acorn is a thorn in his side wrote on Oct 4, 2008 8:28 PM:
Whether voters will somehow hold Obama responsible for the Fannie Mae collapse because of what is at best a slight association with its former head, Franklin Raines is open to question.
But is it a coincidence that he is also associated with Ayers/Dorhn, Flager/Wright and with Tony Rezko, and the Iranian/Iraqi sources of the money he gave Obama?
This Fannie Mae and Freddie Mac stories make Enron look miniscule!!
But is it a coincidence that he is also associated with Ayers/Dorhn, Flager/Wright and with Tony Rezko, and the Iranian/Iraqi sources of the money he gave Obama?
This Fannie Mae and Freddie Mac stories make Enron look miniscule!!
Association of Community Organizations for Reform Now wrote on Oct 4, 2008 8:20 PM:
Isn’t it amazing how often the Dems, in their relentless quest to help the poor, the middle-class, the underprivileged, the downtrodden of American society - always find a way to cash in on it?
One of the few cases where Obama was an attorney of record during his community organizer days was suing Citibank for its failure to issue more subprime loans.
One of the few cases where Obama was an attorney of record during his community organizer days was suing Citibank for its failure to issue more subprime loans.
Doom and Gloom wrote on Oct 4, 2008 7:33 AM:
That's right, don't you DARE listen or watch any Conservative or non Main Stream Media, get all of your information from Geo. Soros, Arianna Huffington, CBS, ABC, NBC, CNN, MSNBC, Daily Kos, or just go straight to Obama campaign headquarters, it is all the same.
This is the October surprise that will put Barack Obama into the White House.
Sure, there has been a Rep. president and the economy took hit after hit since 2000.
Now, the country may be careening toward a deep and painful recession just as Americans prepare to elect a new president, which is what gets Democrats elected!!
To really find the story of government trying to STOP this and Democrats refusal go to:
http://gatewaypundit.blogspot.com/2008/09/bush-called-for-reform-of-fannie-mae.html
This is the October surprise that will put Barack Obama into the White House.
Sure, there has been a Rep. president and the economy took hit after hit since 2000.
Now, the country may be careening toward a deep and painful recession just as Americans prepare to elect a new president, which is what gets Democrats elected!!
To really find the story of government trying to STOP this and Democrats refusal go to:
http://gatewaypundit.blogspot.com/2008/09/bush-called-for-reform-of-fannie-mae.html
Mark M wrote on Oct 3, 2008 6:13 PM:
Roger, you are exactly right, but this is a tough pill for free marketeers to swallow. When you consume a steady diet of Limbaugh, Hannity, and O'Reilly it's easy to become confused by facts. For a superb discussion of how deregulation gave us this mess check out this article by Thomas Frank.
http://www.huffingtonpost.com/thomas-frank/wrecking-wrecking-wrecked_b_130183.html
Those of us who passed civics class in high school understand that you cannot pass legislation without a majority leader which the Democrats didn't have until 2007. Three months into the present session Pelosi's majority passed HR 3915 The Reform and Anti-Predatory Lending Act of 2007 which directly addressed the sub-prime lending at F & F.
Only one thing fixes this mess -- Democrats, and lots of them.
http://www.huffingtonpost.com/thomas-frank/wrecking-wrecking-wrecked_b_130183.html
Those of us who passed civics class in high school understand that you cannot pass legislation without a majority leader which the Democrats didn't have until 2007. Three months into the present session Pelosi's majority passed HR 3915 The Reform and Anti-Predatory Lending Act of 2007 which directly addressed the sub-prime lending at F & F.
Only one thing fixes this mess -- Democrats, and lots of them.
fiscal truth wrote on Oct 3, 2008 5:29 PM:
Google the Community Reinvestment Act f 1995. This is not a case of deregulation. A large portion of the banks evaluation, and thus their rating, is being determined by the number of loans that they give basically to people that cannot afford them! And now we all pay the price for this wonderful piece of social engineering.
clif wrote on Oct 3, 2008 5:33 AM:
Um, Roger, it was democrats who railed fannie may to allow "lower income" americans get risky loans. Wow, stay on point and you will make more sense.
richard wrote on Oct 2, 2008 10:20 PM:
(roger w )i'll just bet that if the truth was known it was george bushs fault that gen a.custer got wiped out at the little big horn.....p.s. i guess that you didn't take time to check out the part that bill clinton and his dems had to play in this mess also, check it out billy boy even admitted it ......
Only in Coos Bay wrote on Oct 2, 2008 6:05 PM:
How on God's Green Earth can any one see fit to blame the Democratic Party for this economy when The Republican Party has owned all three Branches for the first 6 years of the B*sh Administration?
You citizens need to think about what you are saying.
Its beyond ridiculous for you to say and it frightens me to think that you believe that a Party, completely out of power can bring America to its knee's while completely ignoring whose policies have brought this country to this point.
Is it shame that you voted Republican all of your life and suddenly, you see that it was never in your best interest to do so?
Sad.
You citizens need to think about what you are saying.
Its beyond ridiculous for you to say and it frightens me to think that you believe that a Party, completely out of power can bring America to its knee's while completely ignoring whose policies have brought this country to this point.
Is it shame that you voted Republican all of your life and suddenly, you see that it was never in your best interest to do so?
Sad.
Another Voice wrote on Oct 2, 2008 3:01 PM:
Again, Mr. Wilson (and others) could check on YouTube to find out that President Bush and Senator McCain sounded the alarm about financial problems in Fannie May and Freddie Mac as early as 2001. All attempts to pass legislation to address potential problems were defeated by the Democrats. I agree, President Bush cannot pass legislation, only Congress. Where have they been the past 18 months when the Democrats have controlled Congress?
Another Voice wrote on Oct 2, 2008 2:57 PM:
I think Mr. Wilson should check his history. The Clinton Administration began the approval of the deregulation process. It's funny none of the Democratic candidates mention this.
Obama organized this community wrote on Oct 2, 2008 1:54 PM:
“ACORN Housing provides mortgage loan counseling, first-time home-buyer classes, and helps clients obtain affordable mortgages through unique lending partnerships. They even set up their own lending institution as a non-profit mortgage brokerage with CitiMortgage, Bank of America, First American Title Insurance Company, and Fannie Mae to help low- and moderate-income families find safe, affordable mortgages.”
Obbie One Ben wrote on Oct 2, 2008 1:49 PM:
At a 2004 hearing Democrat after Democrat covered up and attacked the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy because the Democrats let them cheat.
Obama is in this up to his big ears:
Obama sued on behalf of ACORN, the Association of Community Organizations for Reform Now.
There appears to be a double standard here. Enron officials are serving jail time for their crimes.
How is it Jamie Gorelick walks away without any cupability at all for the Fannie Mae debacle?
Obama is in this up to his big ears:
Obama sued on behalf of ACORN, the Association of Community Organizations for Reform Now.
There appears to be a double standard here. Enron officials are serving jail time for their crimes.
How is it Jamie Gorelick walks away without any cupability at all for the Fannie Mae debacle?
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