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Isn't that the entire purpose of the GOP and their lemming voting base? Making the rich richer? Why do y'all hate Obama then.
No. The GOP is all about 'everyone who works for it and wishes to become wealthy can do so.' You need to read The Millionaire Next Door, last updated in 2010. 80% of millionaires earned their own wealth.
Isn't that the entire reason the GOP and their lemming voting base exist? To make the rich richer? Why do y'all hate Obama then?
Oh yeah, he's black.
Really! Every get a job from a poor person? Who do you think employs most of the Middle Class?
I am 99.9% sure that Obama will go down in history as the worst and most destructive President America has ever had the stupidity to elect. No question.
This proves he was elected based on skin color how?
All you have to do is look at voter turnout, turnout by race, voting by race, polling and most importantly, the primary.
Look at what happened in the primary. You had two Democrats with a very similar message, Obama and Clinton. Clinton had much greater name recognition, a lot more money and a well oiled organization. Looking at passed primaries, black voting between leading candidates is usually about split without a huge margin one way or another. The primary was historic in how lopsided the black vote was. Close to 90% of black people voted for Obama in the primary. Do you believe his message was that different to make such a huge difference and such a significant anomaly from other racial groups? Of course not, he receive those black votes because he was black. It carried into the general election with a record shattering black turnout. At the time, the black population was 12% of the electorate but accounted for 13% of the vote.
Above are all numbers which are easy to verify and reflect what we know happened. That right there was enough to give Obama the victory.
Now, let's talk about what is not easy to show or verify. I'm certain that Obama received a lot of votes from the independents as well as a larger turnout by younger people (which we can see by the numbers was a larger than normal turnout) because he was black. "I want to be part of history by voting in the first black president" was a factor. You can pretend it wasn't, but it was. I know several white people who openly talked about how cool it would be to have a black president. They talked about both the historical aspect as well as the "healing the racial divide". Can you tell me that you never heard a single person you know talk about how his race was a factor in their decision?
I'm sorry, but Obama being black was the key to him becoming President. If he were not black, it's doubtful he would have beat Hilary in the primary.
I'm happy to remind you that Dubya had a GOP congress for six years. And the result was the Great Recession.
Caused by the burst of the Clinton-era Affordable Housing mandates housing bubble. Here's to remind you WHY Countrywide and the other GSE "best lenders" did what they did:
Quote:
"...Countrywide tends to follow the most flexible underwriting criteria permitted under GSE and FHA guidelines. Because Fannie Mae and Freddie Mac tend to give their best lenders access to the most flexible underwriting criteria, Countrywide benefits from its status as one of the largest originators of mortgage loans and one of the largest participants in the GSE programs. When necessary—in cases where applicants have no established credit history, for example—Countrywide uses nontraditional credit, a practice accepted by the GSEs."
No established credit history = no FICO score = subprime, high-risk, and as it has turned out... toxic.
Clinton-era HUD mandates:
Quote:
"Fannie Mae and Freddie Mac, government-sponsored enterprises (GSEs) in the secondary mortgage market, arethe two largest sources of housing finance in the United States. They fund these mortgages by purchasing loans directly from primary market mortgage originators, such as mortgage bankers and depository institutions, and holding these loans in portfolio, or by acting as a conduit and issuing mortgage-backed securities (MBS), which are then sold in the capital markets to a wide variety of investors.
HUD is the mission regulator for Fannie Mae and Freddie Mac, and a major aspect of this regulation involves setting minimum percentage-of-business goals for the GSEs’ mortgage purchases. These housing (or lending) goals deal with the enterprises’ support for low-income lending and lending in underserved geographic areas. Given the dominant role of the GSEs in the mortgage market, the housing goals play an important role in encouraging mortgage originators to undertake more affordable lending. The Department recently updated these goals, significantly increasing them for the years 2001-03.
In March 2000, HUD issued a proposed rule, significantly increasing the GSEs’ affordable housing goals for the post-2000 period, and this rule was finalized in October."
Caused by the burst of the Clinton-era Affordable Housing mandates housing bubble. Here's to remind you WHY Countrywide and the other GSE "best lenders" did what they did:
Now you know why Mozila, et al, never went to jail. They were just doing what the Clinton-era HUD wanted
It's amazing how many people are so ignorant in terms of the collapse.
It was a collapse caused by the government through those GSE's along with banking rules.
Banks went after the profit by giving loans based upon the rules in place in order to sell bundled packages to Freddie and Fannie. It was essentially the government saying, "All you have to do is give these loans and you're guaranteed a profit when we buy them." It created the bubble. When the bubble popped and all real estate values dropped, the balance sheets of the banks instantly changed and the formulas used by the government to determine the loaning abilities of banks suddenly froze a whole lot of credit causing the housing meltdown to spread across the entire economy as banks were no longer able to extend lines of credit.
Weak,indecisive,lazy,unattentive community organiser who grinded the American sheeples Republic and most golf courses into mush in a little over 6 yrs ...
A executive order pen & phone Veto Corleone type of guy!
A loner!
Love this and agree with every word. You couldn't be more RIGHT.
It's amazing how many people are so ignorant in terms of the collapse.
It was a collapse caused by the government through those GSE's along with banking rules.
Banks went after the profit by giving loans based upon the rules in place in order to sell bundled packages to Freddie and Fannie. It was essentially the government saying, "All you have to do is give these loans and you're guaranteed a profit when we buy them." It created the bubble. When the bubble popped and all real estate values dropped, the balance sheets of the banks instantly changed and the formulas used by the government to determine the loaning abilities of banks suddenly froze a whole lot of credit causing the housing meltdown to spread across the entire economy as banks were no longer able to extend lines of credit.
Exactly correct. Even former Dem Rep Barney Frank admitted it, which surprised the hell out of me.
Quote:
"Former Democratic Rep. Barney Frank, co-author of the Dodd-Frank Wall Street Reform and Consumer Protection Act, said in a recent forum on the crisis that the government — through its decades-long national homeownership campaign and affordable housing goals — "propelled" lenders and investors to excesses they would not have otherwise gone to in the absence of such political incentives.
Frank, former chairman of the House Financial Services Committee, made the stunning remarks at the close of a 90-minute panel discussion hosted by the American Action Forum and held earlier this month in Washington
....But soon, Frank dropped several unexpected bombshells in response to questioning by the moderator, CNBC anchor Steve Liesman.
Asked about the government's affordable housing goals compelling Fannie Mae and Freddie Mac before the crisis to devote more than half their portfolios to riskier nonprime mortgages for low-income borrowers, Frank blurted out: "No more goals, no more telling the private sector" how to invest in the housing market.
"Barney," Liesman asked, "are you suggesting that the goals of Fannie Mae and Freddie Mac, the concept of promoting homeownership, was something that contributed to the crisis?
Note that the specifically mentioned HUD mandate compelling Fannie and Freddie to devote more than half their purchases to riskier nonprime mortgages for low-income borrowers was issued during the Clinton Admin, as I just posted: http://www.huduser.org/publications/pdf/gse.pdf
Fannie and Freddie, "the two largest sources of housing finance in the United States," were forced by Clinton-era HUD mandates to buy more than 50% high-risk loans from originators (Countrywide, etc.), subsequently repackaging them as MBS and selling them to investors worldwide without disclosing the fact that they were largely composed of HUD-mandated high-risk loans. As those high-risk loans began defaulting at critical mass, the 2008 financial crisis ensued.
The MBS (mortgage-backed securities) issued by the GSEs Fannie and Freddie (and therefore perceived to be guaranteed by the U.S. Government) and sold to U.S. investors and financial institutions, and to foreign investors, financial institutions, and governments as investments are the "assets" Rep. Sherman was talking about when he warned the U.S. taxpayer-funded bailout bill was also going to foreign investors:
Can you please show us where nearly 95% of all white voters voted for the white candidate like 95% of all black voters voted for the black candidate?
Before Obama, whites cast their vote for a white presidential candidate 100% of the time. Strange, considering the huge advantage black men have in winning presidential elections!
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