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Old 03-05-2009, 07:36 PM
 
Location: New Jersey/Florida
5,815 posts, read 12,573,624 times
Reputation: 4409

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Quote:
Originally Posted by Lusitan View Post
You're not, by any chance, talking about the Democrats in Congress who blocked every Republican effort to regulate Fannie Mae and force it to stop giving loans to unqualified borrowers (you know, the same unqualified borrowers who make up a huge chunk of the Democratic base)?
I love you. Thank you. But to some everything is GWB fault. It's everyone fault.

 
Old 03-05-2009, 07:38 PM
 
2,057 posts, read 5,471,068 times
Reputation: 1032
The problem is that people continue to vote for democrats
 
Old 03-05-2009, 08:13 PM
 
Location: New Jersey
2,510 posts, read 3,956,340 times
Reputation: 621
Quote:
Originally Posted by Lusitan View Post
You're not, by any chance, talking about the Democrats in Congress who blocked every Republican effort to regulate Fannie Mae and force it to stop giving loans to unqualified borrowers (you know, the same unqualified borrowers who make up a huge chunk of the Democratic base)?

Look....just for the record I am neither deomcrate or republican but up until about two years ago didn't the republicans have the majority ? How can you complain their programs were blocked when the republicans had the majority ?
 
Old 03-05-2009, 08:15 PM
 
Location: NJ
392 posts, read 839,961 times
Reputation: 191
Quote:
Originally Posted by NYC1DAY View Post
The problem is that people continue to vote for democrats
I agree, but conservatives pushed voters to the other side out of disgust. I think we need to stop courting religious zealots, return to being fiscally conservative, and get back the Reagan democrat voter.

Obama's chances for success are slim to none. And I think it will be his own party in Congress that ruins it for him.
 
Old 03-05-2009, 08:17 PM
 
Location: NJ
392 posts, read 839,961 times
Reputation: 191
Quote:
Originally Posted by JERSEY MAN View Post
I love you. Thank you. But to some everything is GWB fault. It's everyone fault.
And I thought I was a big Lusitan fan
 
Old 03-05-2009, 08:19 PM
 
Location: New Jersey
2,510 posts, read 3,956,340 times
Reputation: 621
Quote:
Originally Posted by topster7 View Post
Historically incorrect. Happened before his watch, when I was still doing loans. Actually, he tried, (half heartedly I admit) to reign things in during his first term. It was the push to extend mortgages to those who previously did not qualify for the then current underwriteing guidelines. And alot of it was aimed at broadening the pool of minority home-owners. Both Jessie Jackson and Al Sharpton had seperate initiatives to accuse banks of racism based upon approval percentages with no regard to credit worthiness. Just raw percentages were compared. Failure to achieve a "significant" increase, (whatever that was), resulted in charges of credit discrimination.

Thus, the banks came up with what were then "exotic" products and lossening qualification standards so as to push up the percentages. A worthy goal, but accomplished under duress. A good rule of thumb should have been that someone that couldn't qualify for a new SUV should never have been given a mortgage.

I understand the angst so many have with GWB, but this is a near crisis situation that is not served by partisans on either side ranting about things that are at best, tangental to the true causes. Had we kept the same credit standards we had in the 1980's, we would not be in this mess today.

Sorry; just the facts my friend.
Don't be sorry....I believe you.....but, I believe those in charge were warned this was going to happen eventually when the prime went up and they ignored the warnings ? No matter how you look at this it all boils down to inept leadership. Fema, national intelligence, finance, economy....you name it.....inept leadership.
 
Old 03-05-2009, 08:29 PM
 
Location: New Jersey
4,152 posts, read 5,009,571 times
Reputation: 4203
Quote:
Originally Posted by JERSEY MAN View Post
But to some everything is GWB fault.
you mean the same kinda way that repugnicans blame Bill Clinton for 9/11 ?
 
Old 03-05-2009, 08:29 PM
 
174 posts, read 429,930 times
Reputation: 95
Quote:
Originally Posted by FlyersFan View Post
Look....just for the record I am neither deomcrate or republican but up until about two years ago didn't the republicans have the majority ? How can you complain their programs were blocked when the republicans had the majority ?
I read your earlier post about Obama being new to office, Bush being incompetent and that reference to his Christianity............

But your not a Democrat.

Look, this is bigger than either Party at this point. I still hear the same mumbo jumbo about hundreds of thousands "tricked" into bad loans. Then going off on tangents about CEO bonuses, (which pisses me off too, but not on point), etc.

The republicans did not have an overwhelming majority. Thus some cowards joined with democrats to stall any meaningful reform. Any program change that will disproportunately impact minorites is radioactive, my friend. Had both parties had the guts to put the brakes on this we would not be so severely hurt as we are today.

Forget the damn skin color, grant loans on credit score and income for gosh sakes!!
 
Old 03-05-2009, 08:39 PM
 
Location: NJ
392 posts, read 839,961 times
Reputation: 191
Quote:
Originally Posted by topster7 View Post
I read your earlier post about Obama being new to office, Bush being incompetent and that reference to his Christianity............

But your not a Democrat.

Look, this is bigger than either Party at this point. I still hear the same mumbo jumbo about hundreds of thousands "tricked" into bad loans. Then going off on tangents about CEO bonuses, (which pisses me off too, but not on point), etc.

The republicans did not have an overwhelming majority. Thus some cowards joined with democrats to stall any meaningful reform. Any program change that will disproportunately impact minorites is radioactive, my friend. Had both parties had the guts to put the brakes on this we would not be so severely hurt as we are today.

Forget the damn skin color, grant loans on credit score and income for gosh sakes!!
Yes, some cowards crossed the aisle recently and now we have the hamstimulus bill to show for it.

Credit Score, income, downpayment??? at least they are back in the loan approval process now.
 
Old 03-05-2009, 08:41 PM
 
174 posts, read 429,930 times
Reputation: 95
Quote:
Originally Posted by FlyersFan View Post
Don't be sorry....I believe you.....but, I believe those in charge were warned this was going to happen eventually when the prime went up and they ignored the warnings ? No matter how you look at this it all boils down to inept leadership. Fema, national intelligence, finance, economy....you name it.....inept leadership.
"Don't be sorry....I believe you...."

Oh, jeez.

No matter how inept those agencies you listed were, the one thing you didn't list was the inept borrower. Doesn't your side like to address the "Root Cause"? LOL!
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