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Old 03-08-2009, 03:31 PM
 
Location: Illinois Delta
5,763 posts, read 4,341,479 times
Reputation: 2060

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Quote:
Originally Posted by ryneone View Post
You should back up assertions with facts. A power grab in what way?



The whole point is to debate the issues with facts. The poster you quoted did not even use facts to back up his assertions.

Those rebuttals have been made and cited throughout the thread. The poster I quoted just recapped what's been posted clearly and concisely elsewhere.
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Old 03-08-2009, 03:31 PM
 
Location: New York, New York
4,861 posts, read 6,060,611 times
Reputation: 1019
Quote:
Originally Posted by TRUEGRITT View Post
Just letting you and everyone else know where I stand and reiterate, what good can come from arguing how we got here weather it be R's or D's.

For arguments sake, let's say it is the republicans fault and no other entity, now what? Does that help us out of the predicament we are in?
No it doesn't and I completely agree. We should however look at the contributors (policy wise) and learn from them. I called you out because the mistake that we make when the issue comes up is we seem to forget to call out those on our side politicaly, and tell them to move on. I have caught myself doing so aswell. Secondly is what do you think we should do when someone throws out that accusation about blaming the other side. If you are opposite politically and tell thm to move on you are met with the old don't want to admit your party is at fault. So we end up in the same circle of debate time again.
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Old 03-08-2009, 03:35 PM
 
1,650 posts, read 967,740 times
Reputation: 442
Quote:
Originally Posted by TRUEGRITT View Post
Just letting you and everyone else know where I stand and reiterate, what good can come from arguing how we got here weather it be R's or D's.

For arguments sake, let's say it is the republicans fault and no other entity, now what? Does that help us out of the predicament we are in?
Wow is that what you thought this morning? Or did you just come to that when you could no longer defend your position?

Now what? Now you start a thread saying how can we help America. Or you continue to post that Obama is bad and the sky is falling.
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Old 03-08-2009, 03:39 PM
 
1,650 posts, read 967,740 times
Reputation: 442
Quote:
Originally Posted by TRUEGRITT View Post
I'll answer this way...are Fanny and Freddy colossal failures and who was/is running them?
Golly I don't know what president appointed there regulators.
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Old 03-08-2009, 03:48 PM
 
Location: The Heartland
4,457 posts, read 3,699,010 times
Reputation: 758
Quote:
Originally Posted by lamexican View Post
No it doesn't and I completely agree. We should however look at the contributors (policy wise) and learn from them. I called you out because the mistake that we make when the issue comes up is we seem to forget to call out those on our side politicaly, and tell them to move on. I have caught myself doing so aswell. Secondly is what do you think we should do when someone throws out that accusation about blaming the other side. If you are opposite politically and tell thm to move on you are met with the old don't want to admit your party is at fault. So we end up in the same circle of debate time again.
I agree. I don't have the answer, I doubt anyone does. I can usually make my point and move on to something different after a short or moderate debate on most topics. I will not spend much time with people who are just looking for a fight and have nothing but derogatory remarks to say. Obama's citizenship is something else with me though. I can't make believers understand how and why I feel the way I do on the subject but it is a subject I will not let go until some things are cleared up.

I can see the other side of this debate too and I understand how people can feel just as strongly as I on the opposing side. I do not malign or denigrate them as long as they are trying to make a point and not just looking for someone to cast aspersions on as a way of debating.
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Old 03-08-2009, 03:49 PM
 
Location: Sunny Phoenix Arizona...wishing for a beach.
4,299 posts, read 13,621,743 times
Reputation: 803
Quote:
Originally Posted by jimw144 View Post
Golly I don't know what president appointed there regulators.
I'll help you out, it was the leftist appeaser. The Republicans looked the other way while this was all going on and that's why they got voted out of office. The problem is now the people put have left the crooks in office by themselves unchecked. This is where the fun really begins. Complete destruction is at hand.
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Old 03-08-2009, 05:12 PM
 
1,650 posts, read 967,740 times
Reputation: 442
Quote:
Originally Posted by sheena View Post
I'll help you out, it was the leftist appeaser. The Republicans looked the other way while this was all going on and that's why they got voted out of office. The problem is now the people put have left the crooks in office by themselves unchecked. This is where the fun really begins. Complete destruction is at hand.
You know I think if you got your news with a jelly doughnut you would have a greater perspective on life.
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Old 03-08-2009, 05:18 PM
 
8,758 posts, read 8,844,209 times
Reputation: 1429
Quote:
Originally Posted by cuebald View Post
What Mr. Bush actually said in his speech was this:

"This means they will purchase more loans made by banks after Americans, Hispanics and other minorities, which will encourage homeownership. Freddie Mac will launch 25 initiatives to eliminate homeownership barriers. Under one of these, consumers with poor credit will be able to get a mortgage with an interest rate that automatically goes down after a period of consistent payments. (Applause.)"

In other words, if they are not qualified, we are going to lower the standards until they ARE qualified.

Kind of like making everything legal to do away with crime.

This type of subprime lending started way back in the Clinton administration, as a matter of fact he made it possible.
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Old 03-08-2009, 06:07 PM
 
Location: Charlotte
12,646 posts, read 13,894,201 times
Reputation: 1679
Quote:
Originally Posted by dixiegirl7 View Post
This type of subprime lending started way back in the Clinton administration, as a matter of fact he made it possible.
While sub-prime lending reached a peak of popularity in the mid 1990's, are you certain President Clinton made it possible?

Interesting.

There's plenty of blame to go around, and it doesn't fasten only on one party or even mainly on what Washington did or didn't do. As The Economist magazine noted recently, the problem is one of "layered irresponsibility ... with hard-working homeowners and billionaire villains each playing a role."

Here's a partial list of those alleged to be at fault:
The Federal Reserve, which slashed interest rates after the dot-com bubble burst, making credit cheap.

Home buyers, who took advantage of easy credit to bid up the prices of homes excessively.

Congress, which continues to support a mortgage tax deduction that gives consumers a tax incentive to buy more expensive houses.

Real estate agents, most of whom work for the sellers rather than the buyers and who earned higher commissions from selling more expensive homes.

The Clinton administration, which pushed for less stringent credit and downpayment requirements for working- and middle-class families.

Mortgage brokers, who offered less-credit-worthy home buyers subprime, adjustable rate loans with low initial payments, but exploding interest rates.

Former Federal Reserve chairman Alan Greenspan, who in 2004, near the peak of the housing bubble, encouraged Americans to take out adjustable rate mortgages.

Wall Street firms, who paid too little attention to the quality of the risky loans that they bundled into Mortgage Backed Securities (MBS), and issued bonds using those securities as collateral.

The Bush administration, which failed to provide needed government oversight of the increasingly dicey mortgage-backed securities market.

An obscure accounting rule called mark-to-market, which can have the paradoxical result of making assets be worth less on paper than they are in reality during times of panic.

Collective delusion, or a belief on the part of all parties that home prices would keep rising forever, no matter how high or how fast they had already gone up.
The U.S. economy is enormously complicated. Screwing it up takes a great deal of cooperation. Claiming that a single piece of legislation was responsible for (or could have averted) the crisis is just political grandstanding. We have no advice to offer on how best to solve the financial crisis. But these sorts of partisan caricatures can only make the task more difficult."
Source

So now that we've established some groundwork - praytell, who is willing to commit to solutions...or is that too much like work?
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Old 03-08-2009, 06:11 PM
 
Location: Columbia, SC
18,053 posts, read 10,081,947 times
Reputation: 6976
Quote:
Originally Posted by TRUEGRITT View Post
I'll answer this way...are Fanny and Freddy colossal failures and who was/is running them?
W was running them when the SHTF.
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