Well, Obama did give away a lot of taxpayer money, to buy Democrat votes.
Where's obama at?
- Thread starter Constitutional Sheepdog
- Start date
Days
Commentator
everyone felt that way, except, they were both boys. Not that there's anything wrong with that (according to law), but a POTUS isn't supposed to deceive the nation with who and what he is.
Days
Commentator
okay, sweetie, what you are saying is the BS, why don't you back it up? produce one single post where I said her death was imminent... from the brain disease. And yes the brain disease is irreversible. She also had a lung infection, that, if it wasn't healed, could have been deadly. And because of this, she took to 3 weeks of bed rest. Again, I said it "could be deadly" if she doesn't attend to it, which she did. During that time, I posted that she was running for president from a sick bed, which she was. I labelled that a "virtual campaign" since she wasn't able to be out on the campaign trail. It looks like her loss was due to that.
why do you call BS on anyone's comments when you plainly can't read, to begin with?
justoffal
Senator
The rumors are that she intends to run again in 2020...it would not be unusual for a candidate to lose a primary and then a national before winning ultimately.. I believe Reagan did that identical thing in fact....but in Hillary's case her health has been so obviously deteriorated over the past decade that I would be surprised to see her stage even a primary attempt.
As I said before...the process is to find evidence of a crime, which you have failed to do.
After that, get an indictment and go to trial. That is the way justice in this country works. You missed your era, Jack....Berlin in 1933 would have suited you better.
Gave away money? Sure thing...He invested in GM and saved a million jobs...The jobs he saved may well have "bought" a lot of votes. He did a lot grants for renewable energy companies....Colorado has a bunch of them. People interested in non-polluting sources of energy may have allowed their votes to be influenced by those giveaways.
But then Bush "gave away" trillions in the way of tax cuts to buy republican votes....but that was ok, right?
Boca
Governor
QUOTE="middleview, post: 1836118, member: 8037"]If you were paying attention you'd have noticed that I was responding to a post implying that the democrats were in control of congress starting in 2007 ....[/quote]
I really don't care who was in control of Congress in 2007. The subject you were discussing with CS was the cause of the recession. That's what I responded to.
As for the CRA provisions, they were the one of the two primary causes of the global financial meltdown and subsequent recession.(More on that below***).
You're dead wrong!
Here are the nuggets from what I posted. What's italicized came from the NYT article I linked to that you obviously didn't take time to read, or simply chose to forget. or from Wikipedia, where it came from.
Wow...300 million in today's dollars would be close to 700 million! If Big Pharma or Big Oil were to spend that much today to extract specific favorable legislation out of Congress you'd have a hissy fit. Particularly so when it was spent to get around 2 laws that had been violated.
Okay, now let's get to the Community Reinvestment Act.
So, my goodness, it was two democrats driving the wagon. How about that? And minorities were the focus? How about that?
Here's where it gets ugly in the context of the CRA...and how it impacted Fannie Mae, and in turn global financial interests.
In 1999 Bill Clinton, through Andrew Coumo's HUD, effectively took over risk management of Fannie Mae, a publically traded entrprise with 2014 assets of $3.3 trillion. Pretty big job for a politician don't you think?
You ask what does any of that have to do with the global meltdown and the recession?
It's because Fannie Mae's primary job is to buy up mortgages so that lenders have the capital to lend more (liquidity), and in turn securitize those loans for sale to investors and institutions worldwide. Which means that as Fannie Mae approached Clinton's 50% goal of subprime it infected global financial institutions.
There ya go...no need to discuss whos was in control of Congress in 2007 is there?
Ohh by the way, you know how Clinton managed to get Fannie Mae to go with 50% of toxic paper?
Simply because the Chairman of Fannie was Franklin D. Raines, his former White House Budget Director (who incidentally escaped prison for cooking the books and walking off with $90 million in bonuses). And the Vice Chairman was Jamie Gorelick his former Deputy Attorney General who wrote the memo creating the Wall as it was called. The memo that prevented the FBI and the intelligence community from exchanging information, which many think may have contributed to 9/11. She made off with $26 million in salaries for her 5 years at Fannie without the word "finance" on her resume!
And think about that too! She, as Deputy Attorney General, a law enforcement position, was directing what foreign intelligence operatives and domestic investigators could share. Sounds like an Executive Order to me.
I really don't care who was in control of Congress in 2007. The subject you were discussing with CS was the cause of the recession. That's what I responded to.
I didn't say minorities, why imply I did? Why bring in race? Is that a habit with you as a Democrat? As for restrictions on mergers by redlined banks, that has absolutely nothing to do with the recession which, again, was the subject you were discussing that I responded to.. So much for both your diversions
As for the CRA provisions, they were the one of the two primary causes of the global financial meltdown and subsequent recession.(More on that below***).
Too cute that...obviously it wasn't quoted. Just as obviously, that was the primary goal of the Community Reinvestment Act going back to Jimmy Carter. Down with another diversion.
Worse than what? Are you now agreeing that the CRA provisions were bad, just not as bad?
You're dead wrong!
Here are the nuggets from what I posted. What's italicized came from the NYT article I linked to that you obviously didn't take time to read, or simply chose to forget. or from Wikipedia, where it came from.
The merger of Citibank. Smith Barney, Primerica and Travelers Insurance into CitiGroup was a violation of two laws. Glass-Steagall fixed that, because "the banking, insurance and securities industries spent more than $300 million in 1997 and 1998 alone on a combination of donations to political candidates, soft money contributions to political parties and lobbying."
Wow...300 million in today's dollars would be close to 700 million! If Big Pharma or Big Oil were to spend that much today to extract specific favorable legislation out of Congress you'd have a hissy fit. Particularly so when it was spent to get around 2 laws that had been violated.
Okay, now let's get to the Community Reinvestment Act.
The breakthrough in Friday's legislation came in a backroom meeting at the Capitol soon after midnight, when a group of moderate Senate Democrats -- led by Christopher Dodd of Connecticut and Charles E. Schumer of New York -- forced a compromise between Gramm and the White House over the legislation's effect on the Community Reinvestment Act, a 1977 anti-discrimination law intended to encourage lending to minorities and others historically denied access to credit.
Dodd, whose state is home to the nation's largest insurance companies, and Schumer, with strong ties to Wall Street, have long sought legislation to repeal the Glass-Steagall Act.
So, my goodness, it was two democrats driving the wagon. How about that? And minorities were the focus? How about that?
Here's where it gets ugly in the context of the CRA...and how it impacted Fannie Mae, and in turn global financial interests.
In 1999 Bill Clinton, through Andrew Coumo's HUD, effectively took over risk management of Fannie Mae, a publically traded entrprise with 2014 assets of $3.3 trillion. Pretty big job for a politician don't you think?
In 1999, Fannie Mae came under pressure from the Clinton administration to expand mortgage loans to low and moderate income borrowers by increasing the ratios of their loan portfolios [to 50%] in distressed inner city areas designated in the Community Reinvestment Act Additionally, Community Reinvestment Act regulators, under the direction of HUD secretary Andrew Cuomo, gave higher ratings to banks that financed home loans to "credit-deprived" areas. In essence, banks were rewarded for by-passing loan standards, and instead, approving loans to those who were at high risk of defaulting.
In 1999, The New York Times reported that with the corporation's move towards the subprime market "Fannie Mae is taking on significantly more risk [Bill Clinton's imposed risk}, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980s.
You ask what does any of that have to do with the global meltdown and the recession?
It's because Fannie Mae's primary job is to buy up mortgages so that lenders have the capital to lend more (liquidity), and in turn securitize those loans for sale to investors and institutions worldwide. Which means that as Fannie Mae approached Clinton's 50% goal of subprime it infected global financial institutions.
As recently as 2008, Fannie Mae and the Federal Home Loan Mortgage Corporation (Freddie Mac) had owned or guaranteed about half of the U.S.'s $12 trillion mortgage market. If they were to collapse, [which they did] mortgages would be harder to obtain and much more expensive. Fannie and Freddie bonds were owned by everyone from the Chinese Government, to money market funds, to the retirement funds of hundreds of millions of people. If they went bankrupt there would be mass upheaval on a global scale.
There ya go...no need to discuss whos was in control of Congress in 2007 is there?
Ohh by the way, you know how Clinton managed to get Fannie Mae to go with 50% of toxic paper?
Simply because the Chairman of Fannie was Franklin D. Raines, his former White House Budget Director (who incidentally escaped prison for cooking the books and walking off with $90 million in bonuses). And the Vice Chairman was Jamie Gorelick his former Deputy Attorney General who wrote the memo creating the Wall as it was called. The memo that prevented the FBI and the intelligence community from exchanging information, which many think may have contributed to 9/11. She made off with $26 million in salaries for her 5 years at Fannie without the word "finance" on her resume!
And think about that too! She, as Deputy Attorney General, a law enforcement position, was directing what foreign intelligence operatives and domestic investigators could share. Sounds like an Executive Order to me.
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Wow...follow the bouncing ball. You are all over the freakin' place....all the way up to 911.
Prove your case. How many mortgages funded as a result of banks complying with the CRA were foreclosed?
If Freddie and Fannie were holding 50% of all subprime mortgages...Why did Lehman go under? Could it possibly be due to having bought Aurora Loan Services? ALS was doing 125% mortgages....go ahead, figure out how to blame Clinton for that.
The repeal of Glass-Steagal was the result of a republican bill, passed by a republican congress and signed by a democrat. Did the financial industry pay out a lot of money to congressmen? Yup. So are you in favor of getting rid of Citizens United?
You ignore the impact of the Bush administration legislation and policies....because you have the congenital defect known as Bush Defense Syndrome....You ignore that the CRA was about banks providing financing for areas of a city that had previously been allowed to deteriorate for lack of any sort of lending to buy those properties. It absolutely did not mandate a change in credit worthiness.
I provided a link to a very well written discussion of the timing of the resets that pushed mortgage payments out of the reach of the borrower...those loans started happening in 2003 and fell into default in 2005 and 2006....Who was in charge? Not Obama. Not Clinton. Not Carter.
Θ should be in Ohio
http://freedomdaily.com/muslims-refugees-start-rioting-in-ohio-and-you-wont-believe-what-they-are-demanding-from-people-this-is-sick/
with his kin folk
http://freedomdaily.com/muslims-refugees-start-rioting-in-ohio-and-you-wont-believe-what-they-are-demanding-from-people-this-is-sick/
with his kin folk
Boca
Governor
Because Fannie and Freddie weren't holding the toxic subprime mortgages, they were being peddled to Lehman and financial institutions around the world for years.
Can you not read?
You keep sinking his battleship!
He didn't invest in GM, he bankrolled the UAW, a massive fundraising organization for the Democrat Party. And he didn't save a million jobs, he saved however many Union shit-heads are in the UAW.
Every grant he gave to renewable energy companies, was nothing more than free money, for his supporters and butt-buddies, to play like they were businessmen. They all went bankrupt.
Nah, too many Democrats in Germany in 1933.
Days
Commentator
Lehman went under because the USSR defaulted on their bonds.
there was no toxic subprime mortgages, that was a fairy tale.
ID theft and mortgage fraud accounted for 40% of the housing boom... and it was almost totally in the A++ jumbo market; million dollar loans.
The bigger picture was simple; our factories got old and were shut down, new factories were opened everywhere else. So we lost manufacturing jobs up the wazoo; that's what happened to our middle class.
The financial meltdown was a result of the mafia mortgage fraud; they stole the Wall Street banks blind. That's what crashed the stock market.
The resulting deep recession offered no hire back to laid off manufacturing sector. The final result was they lost their homes, not because of bad loans but because they lost their jobs. The Clinton era enforcement of red lining laws passed in the 60's had nothing to do with it.
What the fvck are you babbling about?.....Your slobbering Obama hate is sickening
Days
Commentator
your slobbering is better?
At least my slobbering is reflective... I didn't jump all over Obama before he took office or really, any time he was in office, I waited until he was a lame duck in his 2nd term before I started on him... and then it was because his birth certificate was proven to be a fraud! Obama got off scott free, he was unable to produce a valid birth certificate, hence, he was not qualified to run for POTUS.
Constitutional Sheepdog
][][][%er!!!!!!!
He didn't save GM he saved the unions contract. All GM had to do default union contract would have busted and renegotiate GM is saved.
Constitutional Sheepdog
][][][%er!!!!!!!
Boca
Governor
That's odd..... the Russian government devalued the ruble, defaulted on domestic debt, and declared a moratorium on repayment of foreign debt in August 1998.
The filing for Chapter 11 bankruptcy protection by financial services firm Lehman Brothers on September 15, 2008 remains the largest bankruptcy filing in U.S. history, with Lehman holding over $600 billion in assets.
The bank had become so deeply involved in mortgage origination that it had effectively become a real estate hedge fund disguised as an investment bank. At the height of the subprime mortgage crisis, it was exceptionally vulnerable to any downturn in real estate values.
Can't argue though with factory closings and job losses except to note that it only exacerbated the effects of lower lending standards that came with the everybody should own a home mind set in Washington a decade earlier.
Again...from the New York Times
But the government-subsidized corporation [Fannie Mae] may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980s.
Yeah...the "disease" is called life. You too suffer from it.
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