On Feb 5, 7:48*am, wrote:
It is all very well for President Obama to vent his anger on all those
US bankers who continued to claim billions of dollars in bonuses while
expecting Washington to bail them out after the sub-prime mortgage
scandal brought the banks to their knees. But conveniently overlooked
has been the curious part Mr Obama himself played in the sub-prime
debacle.

At the heart of it was a 1995 amendment to the Community Reinvestment
Act which legally required banks to lend money to buy homes to
millions of poor, mainly black Americans, guaranteed by the two
biggest mortgage associations, Fannie Mae and Freddie Mac. And no one
campaigned more actively for this change to the law than Mr Obama, as
a young but already influential Chicago politician.

It was this Act which, more than anything, helped to create the US
housing bubble, well beyond the point where it was obvious that
hundreds of thousands of homeowners would be likely to default. And in
2005 no one more actively opposed moves to halt Fannie Mae’s reckless
guarantees than Senator Obama, as he was by then. As the official
records show, no senator received more donations from Fannie Mae than
he did (although Hillary Clinton ran him close). Thus no US politician
arguably did more to promote the sub-prime disaster than the man now
expected to pick up the pieces, …

http://therealbarackobama.wordpress....news-views-the...

Um, dumb****, over half of the subprime mortgages lent were made by
insitutions NOT covered by the CRA. Plus, if the legislation occurred
in 1995, why wasn't this a problem much sooner, dumb****? ARM resets
wouldve been problematic way back then, too, dumb****.

Oh, and by the way, there was NO legal requirement to loan money. The
CRA was a provision that required lenders be in compliance with ONLY
if they wanted to expand operations or undertake a merger. Dumb****.

Do you conservatard losers do your homework on ANYTHING?

http://en.wikipedia.org/wiki/Community_Reinvestment_Act

Brenda Ann wrote:

wrote in message
...

a bunch of crap

How about we blame it all on the ones who are REALLY to blame? Let's drop
all this idiotic political bullcrap coming from both sides, and call it the
way it really is...

The ONLY ones to blame for the mortgage crisis are those who stupidly went
far beyond their means to obtain a home loan, and couldn't pay it as agreed.
No politician, on either side, twisted anyone's arm or held a gun to
anyone's head in order to force them to take a mortgage 200-300% beyond
their financial means.

I'm so sick of everyone.. EVERYONE.. blaming someone else for their actions.
The only thing that's going to save our economy, or even our society for
that matter, in the long run, is for people to go back to taking personal
responsibility for their own actions instead of trying to blame any other
convenient scapegoat, whether it be a politician, banker, or whatever.

One has to blame the politicians because they are the ones who set the rock on
its way down the hill (no pun intended),

And people, being people, took things to the extreme.

In fact, people (mostly more politicians), have been back up to the hill to beg
for more rocks.

Sometime, down the rocky road, we'll discover that the porkulus didn't work.

And, it would seem as though we're already beginning to see a glimmer of the end
of this current 'recession', which was going to end whether one dime was spent
or not.

But, pork excites the masses, pork buys votes. But when pork is not cooked
properly and with care, trichinosis results.

Chew carefully.

dxAce wrote:


And, it would seem as though we're already beginning to see a glimmer of the end
of this current 'recession', which was going to end whether one dime was spent
or not.

That's this week's talking point, anyway. However there are no data to
back up such an assertion. This is going to take years, and (hopefully)
we'll never get back to where we were.

dave wrote:

dxAce wrote:


And, it would seem as though we're already beginning to see a glimmer of the end
of this current 'recession', which was going to end whether one dime was spent
or not.

That's this week's talking point, anyway.

Actually, I heard about it, say two weeks or so back.

However there are no data to
back up such an assertion.

I believe the data came from OMB.

This is going to take years, and (hopefully)
we'll never get back to where we were.

We'll be back!

dxAce wrote:

dave wrote:

dxAce wrote:

And, it would seem as though we're already beginning to see a glimmer of the end
of this current 'recession', which was going to end whether one dime was spent
or not.
That's this week's talking point, anyway.

Actually, I heard about it, say two weeks or so back.

However there are no data to
back up such an assertion.

I believe the data came from OMB.

This is going to take years, and (hopefully)
we'll never get back to where we were.

We'll be back!


That's what frightens me. Ever heard of a dead cat bounce?

dave wrote:

dxAce wrote:

dave wrote:

dxAce wrote:

And, it would seem as though we're already beginning to see a glimmer of the end
of this current 'recession', which was going to end whether one dime was spent
or not.
That's this week's talking point, anyway.

Actually, I heard about it, say two weeks or so back.

However there are no data to
back up such an assertion.

I believe the data came from OMB.

This is going to take years, and (hopefully)
we'll never get back to where we were.

We'll be back!


That's what frightens me. Ever heard of a dead cat bounce?

Yep, and I've heard of dumbass schizophrenics before, too!

dxAce wrote:


That's what frightens me. Ever heard of a dead cat bounce?

Yep, and I've heard of dumbass schizophrenics before, too!


I'm sure you have.

On Feb 8, 2:52�pm, dave wrote:
dxAce wrote:

That's what frightens me. �Ever heard of a dead cat bounce?

Yep, and I've heard of dumbass schizophrenics before, too!

I'm sure you have.

It's probably the resaon he's receiving that disability from Social
Security....

Michael W. "I'm a college professor with a PhD" Bryant wrote:

On Feb 8, 2:52�pm, dave wrote:
dxAce wrote:

That's what frightens me. �Ever heard of a dead cat bounce?

Yep, and I've heard of dumbass schizophrenics before, too!

I'm sure you have.

It's probably the resaon he's receiving that disability from Social
Security....

Sorry, wrong again, oh lying one.

What's the reason you lied about having a PhD?

In article ,
"Brenda Ann" wrote:


wrote in message
...


a bunch of crap

How about we blame it all on the ones who are REALLY to blame? Let's drop
all this idiotic political bullcrap coming from both sides, and call it the
way it really is...

SNIP

I blame RHF. He posts the most crap.

--
Telamon
Ventura, California