Obama has the 'audacity' to blame Bush for the mortgage crisis!

[DoubleActionCHL]

Obama is outraged... OUTRAGED, I tell you, about the state of the banking and mortgage industry:

"While I, like others, am outraged that the reign of irresponsibility on Wall Street and in Washington has created the current crisis, I also know that continued inaction in the face of the gathering storm in our financial markets would be catastrophic for our economy and our families," he [Obama] said.

Really?

ACORN has a long, long history of voter fraud and scandal.
Obama also worked against banks who denied mortgage loans to minorities:

Obama represented Calvin Roberson in a 1994 lawsuit against Citibank, charging the bank systematically denied mortgages to African-American applicants and others from minority neighborhoods.

THE REAL SCANDAL

HOW FEDS INVITED THE MORTGAGE MESS

By STAN LIEBOWITZ

February 5, 2008 — PERHAPS the greatest scandal of the mortgage crisis is that it is a direct result of an intentional loosening of underwriting standards - done in the name of ending discrimination, despite warnings that it could lead to wide-scale defaults.

READ MORE: Thank ACORN For Current Mortgage Crisis | Sweetness & Light

So, what I take from this is Obama is blaming the Bush administration for problem that he helped create. Now, that's CHANGE you can believe in!

 

[kingofwylietx]

Actually, the scandal goes back to the Clinton administration. They are the ones that started the whole mess. But, alas, they blame Bush to get a hand up in the election.

"Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits"

"In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more 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 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry"

These were excerpts from the New York Times article written in 1999 (link below).
Fannie Mae Eases Credit To Aid Mortgage Lending - New York Times

What do you think about that? I suggest everyone read the article, whether you are a Democrat or Republican.

 

[DoubleActionCHL]

Actually, the scandal goes back to the Clinton administration. They are the ones that started the whole mess. But, alas, they blame Bush to get a hand up in the election.

I'm not by any means suggesting that Obama is completely to blame. I'm just annoyed that he was instrumental in reducing lending requirements, a practice that heavily contributed to this downfall, yet he has the testicular presence to blame Bush.

I'll read your link when I get a moment.

 

[JKTex]

Also look at articles from the Carter administration when the push to get high risk borrows into homes was started.

Under Clinton, the above article shows.

Under Bush the big banks were able to multiply their borrowing by almost 3 times. Leveraging leverage. Welcome to today's disaster.

Blame Democratic congress, Republican congress, Democratic Presidents and Republican Presidents and greed from top to bottom.

 

[Major Woody]

Both parties are to blame and we let them do it. Well, they messed up our liquidity and pensions. Both parties need to pay. Take those elite bankers and speculators and empty their pockets, taking even the tires off their Mercedes, and give it back to their victims. Ban them from ever doing business in finance again. Obama along with this socialist media have used every dirty trick in the book to smear McCain , but people are realizing that both of the candidates are using this mortgage problem for political advantage. Sadly, most people are going to be fooled by this. The commies come in, slander Democracy and the established norm and appeal to the poor working class promising to help them while just using them for promotion of their agenda. They intimidate the media, they divide people and conquer. Typical Communist Tactics. All Obama has done is stir up dissent with the minorities. And it's working. We need a better option, but the media won't allow it. They sold products to illegals that falsified their data and they defaulted, and now we have to pick up the tab. This ain't audacity, this is Communism, not the Constitution.

 

[iratollah]

S. Palin and the Republicants have come up with a commons sense and practical solution for the bailout.

She's going to organize a bake sale.

 

[Texas1911]

S. Palin and the Republicants have come up with a commons sense and practical solution for the bailout.

She's going to organize a bake sale.

That would be more common sense than any other Government employee has ever put forth.

 

[chevydeerhunter]

S. Palin and the Republicants have come up with a commons sense and practical solution for the bailout.

She's going to organize a bake sale.

And the Pelosi, Reid and the Democrats will want to tax it.

 

[Major Woody]

Doubleaction CHL, thanks for that link to ACORN. Everybody here needs to read it. This "community organization" is a clear and present and danger to our liberties.

 

[oldguy]

I'd rather have an imperfect Republican as president than a perfect socialist.

I think the above signature of cheavydeerhunter said it all. Simply not much choice
but see above for I agree.

 

[chevydeerhunter]

What's really pissing me off about McCain is that he's not defending himself and actually throwing his party under the bus. What happened to fighting? This is the same thing Dubya did. When he took the blame for Katrina, it pissed me off because it wasn't his fault that Ray Nagin and Kathleen Blanco were inept and didn't prepare for the big one like they should have.

McCain needs to get tough and fight back instead of trying to appease the other side of the asile. He also needs to let Sarah Palin do what she does best and quit hiding her.

 

[TxPhantom]

Saving Our Economy

I watched a documentary Saturday night (10/4/8) on FOX that you will probably find enlightening. It is; "SAVING OUR ECONOMY: WHATS NEXT?" by David Asman. (Yes that's right, his name is "Asman", not to be confused with the "Assman" episode on Sienfeld.)

It's about how mostly the Democrats and a few Republicans are up to their asses in this mess. It named names and explained how Bush and other Republicans made several attempts to get Fannie Mae and Freddy Mac under some kind of control but was shouted down by extremist Democrats. Even dire warnings by Alan Greenspan were ignored.

You won't get this kind of factual reporting on any of the other, so called, news stations. They are too busy selling us out to B-HO!

Probably there will be other repeat showings throughout the next week or so.

 

[JKTex]

Te problem is that everyone is getting the election and this credit market crisis confused.

Neither party can take all the blame. Dem and Rep Presidents and Congress's all had some part of starting and fueling this problem that started over 30 years ago.

Wall Street screwed everyone over here at the end as their scheme to hide and sell the problem has blown up in the world financial markets face.

The campaigns are expecting that we're a country full of stupid people and we'll buy all their BS in convenient bits and pieces.

 

[Major Woody]

Here is a must see, video from You Tube. Watch it now, it is starting to disappear from the Web. Obama is mad about the crisis? Hah, he's part of it. What a hypocrite!
www.youtube.com/watch?v=NU6fufrdCJY
If McCain would play that at the debate it would be a shoe in.

 

[JKTex]

It's gone.

 

[JKTex]

It's gone.

Is this the one you linked to? If it's gone, just search on Obama and ACORN

YouTube - Obama's Ties To 'ACORN'

 

[Major Woody]

Txphantom's show talked about what the video said. I'll go back to another forum and get a working link. The dems are trying to hide this at every turn. That's the third link that just vanished. We need to pull up who caved in on this bailout and vote them out.

 

[Vellcrow]

If the polls are accurate, and Nobama really is in the lead, do you think the country will pull together and truly vote McCain in office? I think the Nobama supporters will turn out and vote in record numbers and seal our fate. Don't worry, McCain will get my vote, but I don't know if it will do much good.

Please give me a small amount of hope...(and not the Obama Bin Laden type).

 

[chevydeerhunter]

I don't trust the polls and I don't think they're as accurate as the press would like us to believe. We keep hearing Obama's 7,8 or 9 points ahead when Zogby only has him within the margin of error. If Obama was really that much ahead, you wouldn't see ACORN working this hard to get homeless people to vote illegally in Ohio.

 

[Major Woody]

The feds just raided Acorn in Las Vegas for voter fraud. Obama chaired acorn. That's how he is winning.