-=Linkage=-

This video that I found probably explains what's going on in the Housing Market better than practically any other one that I've found and it highlights the type of thinking that Obama has when it comes to economic policies. He wants to use Government as a tool to advance the Middle class, when let's face it. Government has NEVER been able to do anything other than get out of the way to help people get ahead. Sure government is useful to keep people from starving and barely provide a living, but when it comes to really improving our lives all of that is squarely in our hands and there's nothing that government can do to make it better. They CAN however make it worse, by taxing and regulating us to death.

What amazes me is that there are actually polls showing that Obama is benefiting from the Housing implosion, even though most of the evidence points to the Democrats mostly being at fault here. As far back as 2004 the Bush Administration tried and failed to regulate these institutions and the Democrats did everything they could to keep those companies from any regulation. McCain picked up on this and has tried again and again in 2005, 2006 and 2007 to regulate these entities but was stopped by the Democrats every time.

One of the primary points of the video is that the CRA is what caused this whole mess, but in truth probably 80 to 90% of the loans didn't fall under the CRA. However, with that said, it was the lowering of the Standards to Accommodate the CRA that allowed the abuses in the system. People used the whole "No Money Down" mentality to buy homes as investments, especially here in Florida where you could basically buy a home "Pre-Construction" for a lower price, and once it's built turn around and sell it for a higher price. Problem was there were too many investors and in the end not enough homeowners to sell to.

Where was Obama in this? Obama actually sued Citibank for not providing enough of these CRA Loans. In addition during the years when McCain was trying to get regulations passed on these institutions, Obama was silent while raking in the cash.


Want more proof of Obama's failed economic policies utilizing Government as a tool of change? Obama's plan to revitalize Chicago's inner cities with Rezko met with utter failure. Most of the homes they built together are today either boarded up or demolished.

What all of this shows is that the supposed "change" that Obama is talking about is nothing but more of the same. More of the same MASSIVE government institutions, more of the same Socialization of the U.S.A. More of the same Washington Potitics controlling markets. More of the same Tax and spend and then when that runs out you go and tax and spend some more. That's not change, it's more of the same failed economic policies!
-=Digg=-

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http://www.nosocialism.com
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America is not a Socialist country, this is why the only democrats who ever win, are democrats who SOUND like Republicans (Hello Bill Clinton - "Low taxes, Free Trade, Welfare Reform, Era of Big Government Over" - Sounds Republican - Hello Barrack Obama - "My Tax Cut is Bigger than yours, Your Health Care Plan is Big Government, Parents need to take responsibility for their kids schooling]").

Sorry, too difficult to understand thus no traction. Sure, it's frustrating but that's where we are today.

That's the problem. Dummies votes count the same as intelligent informed voters. Oh well what can be done.

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http://www.nosocialism.com
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America is not a Socialist country, this is why the only democrats who ever win, are democrats who SOUND like Republicans (Hello Bill Clinton - "Low taxes, Free Trade, Welfare Reform, Era of Big Government Over" - Sounds Republican - Hello Barrack Obama - "My Tax Cut is Bigger than yours, Your Health Care Plan is Big Government, Parents need to take responsibility for their kids schooling]").

The vast majority of Americans can't remember Carter.

Hence Obama's "Change".

If it's any comfort, if Obama is elected, his voters will suffer the most when unemployment hits 10% again.

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Sarah Palin "It was Ronald Reagan who said that (economic) freedom is always just one generation away from extinction. We don't pass it to our children in the bloodstream; we have to fight for it and protect it, and then hand it to them so that they shall do the same, or we're going to find ourselves spending our sunset years telling our children and our children's children about a time in America, back in the day, when men and women were free."

Another thing that is often overlooked is that a lot of people that applied for these loans were giving false and embellished information or otherwise they would not have qualified. And then I hear this clown Obama talking about how we need to help these crooks and liars (yes, a lot of the loanees are the crooks in this mess) and I just get even more pissed off at that ignorant dunce!

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Own your bigotry.

QUOTE:"What amazes me is that there are actually polls showing that Obama is benefiting from the Housing implosion"

Of course. All he has to do is repeat McCain's lines about the need for accountability and transparency, and *poof* he's on the news and up in the polls. Never mind Jim Johnson and former Fannie Mae chairman and CEO Franklin Raines. We don't need to show too much news about them.

When republicans win an election, ANY election, it is a well earned victory. Not just for winning the vote, but for doing it with all the biased reporting out there.

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Except for Ending Slavery, Fascism, Nazism and Communism, War Has Never Solved Anything
If there were any truth to global warming, it's biggest proponents wouldn't be hypocrites.

Very true, I remember 25 years ago, if you were doing a "No Doc" (which means you don't have to provide proof of income) loan, you would generally have to pay about 25% down to be considered AND in addition you had to pay about a full point over the market rate. While there were SOME private investors and lenders that would do the loan, the rule of thumb was that you would pay about a quarter point ABOVE the base rate for every 5% LESS than 25% that you were putting down. In other words, if you were only putting 5% down, you would need to pay another point on top of the full point you paid for the loan being a "No Doc" loan.

After the changes and the lowering of standards, someone working at McDonalds with decent credit could "Claim" to earn 100K a year, do 100% financing and would only need to come up with Closing costs (which might be as little as 1% depending on the terms) and they would only pay about a quarter point to a half point premium for doing a No Doc loan!

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http://www.nosocialism.com
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America is not a Socialist country, this is why the only democrats who ever win, are democrats who SOUND like Republicans (Hello Bill Clinton - "Low taxes, Free Trade, Welfare Reform, Era of Big Government Over" - Sounds Republican - Hello Barrack Obama - "My Tax Cut is Bigger than yours, Your Health Care Plan is Big Government, Parents need to take responsibility for their kids schooling]").

Not only do dummies vote, they post nonsense like this. posting one side of the story, even with a crappy homemade video isn't lying, but it's not research either.

Read something that tells the whole story like this. There is blame enough to go around. I was a republican for most of this stuff and rabidly blamed democrats for not regulating these guys enough. But truth be said the republicans had no stomach for it either. If they wanted it to happen back then, they could have made it happen.

Then you say this
I read the whole article, it mentions Obama's name once on a list of people rezko gave money to. The list included republicans too. So maybe it was bushes plan too. This is just more of the Obama and resko were fast friends and in depth business associates nonsense that has been debunked a hundred times already and the article you put forward as proof didn't even try to make that argument.

I put alot of the blame on loopholes created as a result of deregulation that allowed things like enron to happen. I used to attribute that soley to mccains partner, phil gramm. I now know that it was more complex than they and both parties had roles in creating the environment that allowed these things to happen.

So that all being said what do we do? I simply can't vote for the 2008 version of john mccain. He has no compass, either in domestic policy or foreign affairs. His stands are wrong in Iraq and he has no sway with his own party in congress. He is prone to grandstanding and picked the weakest VP running mate in history, at least my history. He has reversed himself on every issue that I agreed with him on and rather than breaking with his party on issues where he held a different point of view, this cycle he simply changes his point of view to agree with the party.

If you want to see how bad it is getting for mccain watch . Thats Fox News folks. If there was ANY doubt who they are in the tank for I think that video dispels it. 100% vote for Obama is a "Split, maybe a little heavy for Obama at the moment". You can't fake this stuff, although they try.

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If your best argument against Obama is that his name sounds like Osoma, or that his parents were not married, or that he is a Muslim, or anything that includes the word elitist then you are an example of how far the Republican party has fallen.

Palin won’t say whether veep is an executive post - Does this scare anyone else? It terrifies me.

Probably the biggest irony of this election is that there is a possibility of having a Palin-Pelosi administration in the next 8 years.

The spin just keeps coming.

Here's some informed reading material, although I am sure you will try to poke holes in it:

http://www.prospect.org/cs/articles?...ubprime_crisis

The CRA was NOT at fault, and it only affected the small town banks that had depositors in their local areas.

Greed on Wall Street drove this bus into the ditch.

First of all, Bush didn't buy his home with Rezko did he, no that was Obama. Second, you're not getting the point, the point is that Fannie Mae and Freddie Mac were Government Sponsored Institutions, which is where Obama wants to take this country. He wants Oil to be a Government sponsored institution, he wants the Drug Companies to be Government sponsored institutions, hell he wants the entire health care industry to be Government sponsored institutions so that everyone can have health care. Problem is, from what we know of Government sponsored institutions is that they're always turned into political tools used to reward Washington Friends. Look at what happened to Fannie Mae and Frieddie Mac. That's not "Wall Street Greed" that's Washington Cronyism.
Completely false. Things like Enron, well unfortunately things like that happen with Companies all the time. Companies fail. Well over 99% of all companies started since the 1800's have failed, it's a simple fact of life. Better regulation can't replace better and moral management, that's another FACT of life. However, if you look at the reason for the failure of Enron, it was because of the utilization of complex financial instruments that very few people understood, and without a complete understanding of those instruments, you can extrapolate almost any kind of data that you want. The abuses there happened, simply because some people didn't know what the hell they were doing, and the lack of complete information was used to lead everyone else down the wrong path by the few that DID actually understand what they were doing. If you think new regulations will stop something like that from happening again, you're sorely mistaken. Things like this happen AFTER existing regulations kick in, and they're things that the regulators NEVER dreamed up to begin with, so how can you regulate a 'future' activity, not yet being undertaken? You can't!

Second, let's take a look at Fannie Mae and Freddie Mac. What caused these failures was first of all the COMPLETE lack of any sort of regulatory oversight, the kind that EVERY bank in America is subject to. Why did they get this special treatment? Because they had an entire GOVERNMENT division who's sole job was oversight of these companies. Problem was, there were to "rules of engagement". When George Bush announced that he was going to work with Congress to implement these Rules of Engagement, the Democrats went NUTS, they called him Racist and every other name in the book to stop it. Republicans tried again this time headed by McCain for the next 3 years to no avail. McCain kept insisting that we put some rules in place for what he saw as abuses in the system and no one wanted to listen.

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http://www.nosocialism.com
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America is not a Socialist country, this is why the only democrats who ever win, are democrats who SOUND like Republicans (Hello Bill Clinton - "Low taxes, Free Trade, Welfare Reform, Era of Big Government Over" - Sounds Republican - Hello Barrack Obama - "My Tax Cut is Bigger than yours, Your Health Care Plan is Big Government, Parents need to take responsibility for their kids schooling]").