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Obama's Big Idea!

Discussion in 'U.S. Politics' started by Libsmasher, Oct 14, 2008.

  1. Libsmasher

    Libsmasher New Member

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    The guy with no economic credentials (and it shows) who is the advisee of Franklin Raines, the prime mover for Fanny Mae subprime loans, has had yet another brain fart. :)

    He says foreclosures should be suspended for 90 days. Besides rewarding the very people who brought the global economy to its knees, deadbeats who took out loans they couldn't pay, it adds to banks illiquidity problems which the treasury is trying to solve. :rolleyes:
     
  2. primerib

    primerib New Member

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    Story about the financial crisis Obama created, just in time for Christmas.

    Today we are going to talk about the collapse of the housing market, Acorn and the financial crisis Obama crated. Three years ago Senator McCain tried to pass a bill that would have regulated Fannie and Freddie, ground zero of the housing melt down. McCain was rejected for sound judgement and foresight to head off or stem the flow of a very serious problem and reign in both GSEs that were ticking time bombs. But unfortunately idiots like Dodd, Frank and Schumer were on the take getting paid off and not serving the American people, which is what they were elected to do, because it would have impinged on their personal individual interest and political gain. Those 3 stooges should be prosecuted to the fullest extent of federal law.

    Now let us take a look at what Obama was doing when that was going on kids. He was also on the take with Fannie and Freddie, voting present and looking the other way as he collected pac money boys and girls. Before that he was a legal counsel for Acorn and trained their staff. Acorn is a radical left wing organization that pressured banks into taking risky liar loans in accordance with the community reinvestment act. Can you say that for me? Acorn is also guilty of voter fraud which is a felony. Acorn was the cause or catalyst of the housing market melt down and Obama was smack dab in the middle of it. He even contributed campaign money to their cause. Can you believe that? Now Obama stands up in front of the American people with his ridiculous policies and initiatives to rescue us from the financial crisis he created. Nobama, go away, you are a disgrace.
     
  3. Talk2TheHead

    Talk2TheHead New Member

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    I'll make it as short as possible: LOL
     
  4. Mr. Shaman

    Mr. Shaman New Member

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    Yeah.....let's HEAR IT!! (...for Lil' Dumbya...the Prez with an MBA. :rolleyes:)

     
  5. Libsmasher

    Libsmasher New Member

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    The democrats and their policies are behind the credit crisis, no ifs. That the american people have been scammed about this will go down as one of the greatest political frauds in US history.
     
  6. Popeye

    Popeye Active Member

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    Guess what Libs? Proclaiming something does not make it so. Rather than relying on biased right wing smears playing the blame game, I prefer to listen to an economist with impeccable credentials...that being Paul Krugman.

    Among other things he blames the crisis on the Bush Adminstration's policies and it's zeal for deregulation leading to the accompanying market failure. Also, for at least three years, Krugman has been warning about the dangers of ballooning housing prices and the trade deficit. “One way or another, the economy will eventually eliminate both imbalances,” he wrote in August 2005.

    http://www.nytimes.com/2005/08/29/opinion/29krugman.html

    Krugman, btw, was accused by many on the right as being a "chicken little."
     
  7. XCALIDEM

    XCALIDEM Active Member

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    It's really political propaganda. The reality is that many people are living in their homes up to 9 months without making payments before they're asked to vacate now. Prior to this foreclosure mess, you would get your order of default in 3 months. This means that if you don't clear your deficiencies, the bank would foreclose on you. Now it takes up to 6 months before that happens and people live in their homes for 9 months.

    Lenders are overwhelm with all the paper work from thousands of foreclosures.

    What Obama is asking is nothing new. Just like his tax plan. He's planning on giving a tax break to 95% of the people. He's full of ****...:mad:
     
  8. Libsmasher

    Libsmasher New Member

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    I never just "proclaim" anything - that's YOUR specialty. :rolleyes:

    :D

    First of all, Krugman is about 1% economist and 99% liberal-left opinion writer for the NYT.

    "Deregulation" had nothing to do with the credit crisis, that's just the mindless mantra of statists who have taken advantage of the crisis, and the intellectual laziness of the american people to convince them to greatly increase statism in this country, with all the benefits that would thereby accrue to the leftwing slime in our society: the lawyers, the grant receivers, the bureaucrats, the "educators" - the whole liberal zoo.

    As for what Krugman ACTUALLY SAID in the article - that investers accepted a low premium for high risk - that's true, but it neatly evades what the ultimate cause was for there even the loans on which the securities were based - government forcing lending institutions to loan to high risk borrowers.

    Likewise, in the 1980s S&L crisis, depositors accepted a small premium for HUGE risk, but they only did so because their deposits were covered by the FSLIC - they therefore couldn't care less what the S&Ls did with their money. The S&Ls invested the money in very high risk real estate deals, and when the collapse came, the libs dragged out the same old tired "deregulation" mantra as they are using now, when the real cause was just the opposite - as it is now.
     
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