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Old 07-20-2008, 08:15 PM
 
55,047 posts, read 43,905,213 times
Reputation: 34446

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Quote:
Originally Posted by scuba steve View Post
Couldn't happen. It'd be a matter of minutes before someone came along and said that it would be racist and unfair to those with low income.
Yep. Jesse jackson did this about 10 years ago...and now he's protesting the racist foreclosures. Ugh...what a complete weasel.
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Old 07-20-2008, 09:14 PM
 
Location: no
27 posts, read 59,431 times
Reputation: 28
Default Dude your only half right

You also have to take away the real reason why this happened in 2006-2008 and in 1986-1988.

The lie of republican trickle down economics caused this recession and this mortgage failure just like it did under regan and daddy bush.

The repubs get interest rates cut when they give their supposent tax cuts.

But they cut state funding also and then push everyone to borrow to stimulate the economy.

OR DONT YOU REMEMBER BABYBUSH SAYING WE NOW HAVE A FAITH BASED ECONOMY.

When state funding gets cut state recoup that revenue loss by raising property taxes.

This stimulates builders JUST LIKE THE RECENT FUEL PRICE HIKES HAVE STIMULATED THE CHEAPER ETHANOL MARKET.

BUT JUST LIKE 1983 in 2003 the fed started to raise rates and those builders got stuck and got forclosed on. And the speculators tried to cut their losses by going to sub prime. JUST LIKE THEY WENT TO SAVINGS AND LOANS IN THE 80's.

1986 the savings and loans failed

2007 the sub prime failed

An almost mirror image.

VOTE DEMOCRATE IN 2008 TO STOP THE FAMOUS DADDYBUSH LIE of 1988

READ MY LIPS NO NEW TAXES from occuring again as well as the major recession of 88-91
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Old 07-20-2008, 09:19 PM
 
Location: no
27 posts, read 59,431 times
Reputation: 28
Default And trickle down dont work

But you losers keep voting the repubs in and let them deregulate everthing.

HEY TEX WHAT ABOUT WORLDCOM that was the direct result of your great deregulation brought to us by repubs.

Hey tex what about 1986 when the same thing happened under your repub reagen and daddybush.
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Old 07-20-2008, 10:03 PM
 
Location: Ohio
21,274 posts, read 15,069,014 times
Reputation: 17700
You might want to do a little more fact-checking.

Quote:
Originally Posted by tbaarr View Post
The repubs get interest rates cut when they give their supposent tax cuts.
No, the Federal Reserve is independent. Obviously you don't remember Carter and George H. on their knees begging the Fed to do something (and the Fed refused and both failed to get re-elected).

Quote:
Originally Posted by tbaarr View Post
1986 the savings and loans failed
The savings and loans were funding commercial and retail projects, not home loans.

Quote:
Originally Posted by tbaarr View Post
2007 the sub prime failed
Sub-prime failures began in 2001 and were first reported in the media in 2002 while Eliot Spitzer was investigating complaints against mortgage lenders.

75% of the sub-prime loans were issued during the Clinton Administration.

Quote:
Originally Posted by tbaarr View Post
READ MY LIPS NO NEW TAXES from occuring again as well as the major recession of 88-91
There was no major recession in 1988-91. There was a slight economic down turn for two quarters as capital was removed from the defense industry and reallocated to other sectors of the economy.
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Old 07-20-2008, 10:19 PM
 
Location: Texas
4,933 posts, read 6,969,328 times
Reputation: 5506
You can't fix stupid, but you can sure as heck put them on the ignore list. Woodrow Wilson established the federal reserve, giving a private corporation complete control of the nation's currency. Government protects this monopoly by passing legal tender laws, forcing citizens to take the payment of federal reserve notes (IOU's) for all debts. This isn't about partisan politics. This has been in the making for decades by a monied interest so powerful, it will soon establish a one world government. Perhaps some history lessons are in order. Of course, you being a product of government controlled public schooling are ignorant of your own bondage. Ahh to be a sheep. Must be great living in the republican scapegoating MTV generation. Does Obama's empty promises and hot air about hope get you hard? Go on and suck on the breast of government entitlement. Those dependent on the state are the easiest to bring into submission.
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Old 07-21-2008, 05:39 AM
 
2,197 posts, read 6,814,345 times
Reputation: 1687
Quote:
Originally Posted by tbaarr View Post
You also have to take away the real reason why this happened in 2006-2008 and in 1986-1988.

The lie of republican trickle down economics caused this recession and this mortgage failure just like it did under regan and daddy bush.

The repubs get interest rates cut when they give their supposent tax cuts.

But they cut state funding also and then push everyone to borrow to stimulate the economy.

OR DONT YOU REMEMBER BABYBUSH SAYING WE NOW HAVE A FAITH BASED ECONOMY.

When state funding gets cut state recoup that revenue loss by raising property taxes.

This stimulates builders JUST LIKE THE RECENT FUEL PRICE HIKES HAVE STIMULATED THE CHEAPER ETHANOL MARKET.

BUT JUST LIKE 1983 in 2003 the fed started to raise rates and those builders got stuck and got forclosed on. And the speculators tried to cut their losses by going to sub prime. JUST LIKE THEY WENT TO SAVINGS AND LOANS IN THE 80's.

1986 the savings and loans failed

2007 the sub prime failed

An almost mirror image.

VOTE DEMOCRATE IN 2008 TO STOP THE FAMOUS DADDYBUSH LIE of 1988

READ MY LIPS NO NEW TAXES from occuring again as well as the major recession of 88-91
You're in the wrong forum. If you want to stump, please do it in the Political forum, where you can pointlessly bash until your heart's content.
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Old 07-21-2008, 06:10 AM
 
Location: Charleston, SC
5,615 posts, read 13,145,045 times
Reputation: 2539
Quote:
Originally Posted by tbaarr View Post
VOTE DEMOCRATE...
Is this a thing that could be stood on, or filled with something?
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Old 07-21-2008, 09:00 AM
 
44 posts, read 168,436 times
Reputation: 25
My take on the present situation.

The Great American Nightmare
by Martin D. Weiss, Ph.D. 07-21-08

What Washington Won't Tell You About This Unfolding Financial Debacle

www.moneyandmarketsdotcom/Issues.aspx?NewsletterEntryId=1993 (broken link)
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Old 07-21-2008, 05:11 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 21,888,303 times
Reputation: 3587
Quote:
Originally Posted by goodbyehollywood View Post
Am I the only person who wants less government meddling in my life? Our elected officials have done such a stellar job managing the economy and spending my tax dollars that I would rather regulate myself. And if you can't regulate yourself, the market will do it for you... if the government would just STOP meddling and making things worse.

People who make poor decisions should be allowed to learn from the consequences. And if they can't, well, the government shouldn't step in there, either.

I do agree that not everybody is qualified or suited to buy a home. But it's up to lenders to set and enforce standards that prevent borrowers from defaulting. That's a job for private industry, with a little help from Mr. Market.
Normally I might agree but the fact is that these lenders make the loans and then sell them to Freddie and Fannie and put the taxpayers on the hook for them when they go bad. Now, if a truly private uninsured loan company wants to make the loans and not resell them and not make taxpayers responsible for them and eat the losses themselves, OK by me.
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Old 07-21-2008, 05:13 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 21,888,303 times
Reputation: 3587
Quote:
Originally Posted by Mircea View Post
You might want to do a little more fact-checking.



No, the Federal Reserve is independent. Obviously you don't remember Carter and George H. on their knees begging the Fed to do something (and the Fed refused and both failed to get re-elected).


The savings and loans were funding commercial and retail projects, not home loans.



Sub-prime failures began in 2001 and were first reported in the media in 2002 while Eliot Spitzer was investigating complaints against mortgage lenders.

75% of the sub-prime loans were issued during the Clinton Administration.



There was no major recession in 1988-91. There was a slight economic down turn for two quarters as capital was removed from the defense industry and reallocated to other sectors of the economy.
Which is the Fed's job. Back then they took it seriously. Not now.
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