The genesis of this problem came with Carter's "community reinvestment act." This legislation became a bludgeon for asshole activist groups like ACORN to threaten banks with to lower their standards for lending. Fannie and Freddie exacerbated the situation astonomically when, pressured by the Clinton administration to provide more loans in minority commiunities, lowered the lending guidelines (credit score, downpayment amount, debt-to-income ratio). Banks and mortgage brokers merrily complied (bank lending guidelines mirror Fannie or Freddie guidelines so mortgages can be sold in lots), since these unwise loans were just being combined into mortgage backed securities and sold to Fannie, Freddie, brokerage houses, pension funds etc. It was a big party of ineptitude and greed until the inevitable shit hit the fan and the house of cards came down. Just another liberal, do-gooder policy gone bad.
On Sep 29, 11:43 pm, Hollywood <[EMAIL PROTECTED]> wrote: > Jim W, > > Far from your best effort lad. Long on hysterical rhetoric, short on > common sense. > Yes, the Democrats did give the people Social Security, Medicare and > Medicaid. Your quite welcome. > > Why of course lad. I know just tons of burger-flippers at McD's that > own homes worth $250,000.00. Dosen't everyone? Pure nonesense. > > Enjoyed the little youtube clip. The date I noted was late 2004. If > I'm not mistaken the Republicans controlled both the Congress and the > White House. And yet were either unwilling or unable to address > effectively the problems you seem to see so clearly. Wonder why? In > the case of unwilling, that would mean they were in conclusion with > the evil Democrats. In the case of unable, that would make them > incompetent. Wouldn't it? > > The current situation is the responsiblity of both Democrats and > Republicans. And the media stopped doing their job decades ago. BOTH > parties are simply desperately trying to avoid as much responsibility > by throwing mud at the otehr and rapidly and thickly as possible. > > You lads have fun trying to blame all the problems of this country > solely on Democrats and/or liberals. Let's just hang approx. 50% of > the leadership of both parties and see if that helps get the point > across. > Your post was partisan bullshit. Very well written bullshit, but > bullshit nevertheless. > > On Sep 29, 7:27 pm, Jim Willis <[EMAIL PROTECTED]> > wrote: > > > > > In a sane world, democrats would be too ashamed to show their faces in > > public much less have the unmitigated audacity to blame President > > Bush and the republicans for our current financial woes. The common > > denominator in all of our market meltdowns is Freddie and Fannie, the > > sandbox of the Democratic Party. Democrats were in charge of the two > > behemoth bastions of bullish bloviating while their incestuous > > Democratic leaders in Washington held the curtain hiding their > > indiscretions. Good work if you can get it and by the way, our > > responsible media ignored the whole damn thing. And, this wasn’t an > > accidental oversight by powerful Democrats, oh no, what we have seen > > from the left only confirms a suspicion I’ve held for some time; they > > are out to destroy this country. > > > There can be no other conclusion when an objective observation is > > undertaken. It was the democrats that gave us Social Security, > > Medicare and Medicaid. Suffer just one of these institutions hoisted > > upon the American taxpayer and insolvency will eventually follow. It > > is the democrats who insure we will continue to fund our enemies by > > placing our natural resources off limits. It is the democrats who > > created the sub-prime mortgage ensuring those flipping burgers at > > McDonalds are granted access to $250,000.00 homes. It was the > > democrats who created welfare thereby obligating taxpayers to support > > people they don’t know and lifestyles they are disapproving of. It is > > the democrats who reward poverty, a guarantee that we will have more > > of it. It is the democrats who punish success by engaging in class > > warfare and confiscatory tax burdens on achievement. > > > By these acts and others, no reasonable contrarian explanation is > > possible. We have a party whose leadership is hell bent on destroying > > America as it currently exists. Exploring their motives for this > > destruction is Pavlovian in nature as a majority of the electorate > > cannot fathom such heresy. Yet, here it is, on display daily from the > > loony liberal left. Personally I care as much about their motives as I > > do about the latest Rap Song or what Brittney is doing these days; for > > me their motives are irrelevant and inconsequential. Our focus should > > not be on such trivialities or trappings but instead upon destroying > > them politically. And, for those huddled masses of democrats across > > the fruited plane they will have to look past their hatred of George > > Bush and realize their party has left them. Remember, Ronald Reagan > > began his political career as a democrat and said, “I didn’t leave the > > democrat party, they left me”. Ditto Zell Miller. > > Conservative Springfield 29 SEP 08- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
