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Old 10-04-2008, 03:21 PM
 
1,544 posts, read 1,955,597 times
Reputation: 276

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Greed is what driving America right now.
Greedy voters vote for greedy politicians.

This is the decade of greed.
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Old 10-04-2008, 03:22 PM
 
Location: Texas
8,062 posts, read 17,090,115 times
Reputation: 3716
I don't want to argue with you, either. But I must say that your first link isn't about Medicare healthcare. It's about information technology. As for the second article, I'm afraid I'm not very sympathetic on the reimbursement rates. My rheumatologist gets $90 from Medicare for seeing me. He's in the room for 10 minutes and he's got a bunch of other rooms filled with patients waiting to get their 10 minutes. That's $540 per hour and, yes, he is ALWAYS booked with patients and has a waiting list for new patients! My primary doc takes Wednesdays off and works a half-day on Fridays. He apparently does well enough to work a 3 1/2 day week!

The biggest problem for docs is the huge cost of malpractice premiums because of frivolous lawsuits. Texas enacted strict tort reform and the docs are flocking here. Other states need to follow suit.

I didn't support this bailout. I'm pleased that the Texas congressional reps -- both Dems and Repubs. -- voted against it. You're right -- it's corporate welfare and I don't think it's going to do ONE BIT of good. But how can the Dems support Pelosi after her remarks and handling of the situation?! Stocks are STILL falling and credit won't get any better. This was a huge mistake and the Dems have to own their huge share of it.
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Old 10-04-2008, 03:27 PM
 
Location: The Land of Lincoln
2,522 posts, read 4,137,985 times
Reputation: 580
Quote:
Originally Posted by luzianne View Post
And you think drilling has nothing to do with the economy? I think we see who is stupid! We don't need socialist Obama as our president. And Obama voted for the bailout too. I'm voting McCain.
I agree.
If you (the poster) actually knew anything about Fannie Mae and Freddie Mac you would realize that they are yet another attempt at affirmative action, attempting to make homes affordable for those without an income to buy one. Totally an idea by the Democrats and what party do you think Barney Frank belongs to??? Blaming it on the Republicans just shows that you have not researched the facts.

This bail out is pushing us closer and closer to a Socialist government.
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Old 10-04-2008, 03:29 PM
 
34,990 posts, read 36,947,863 times
Reputation: 6174
Quote:
Originally Posted by mullman View Post
Saved from the memory hole is this 9.30.1999 NYT article...

If you can read, click this (http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F9582 60&sec=&spon=&pagewanted=all - broken link)
wow, great find!
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Old 10-04-2008, 03:38 PM
 
Location: US
3,090 posts, read 3,734,832 times
Reputation: 1648
Great article. Pressure was applied to lenders by ACORN as well thanks to the Community Reinvestment Act. Banks were sued by ACORN if they didn't make enough home loans to low income people which affected their CRA rating. Not surprised to see Raines' name.


Quote:
Originally Posted by mullman View Post
Saved from the memory hole is this 9.30.1999 NYT article...

If you can read, click this (http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F9582 60&sec=&spon=&pagewanted=all - broken link)


Excerpt:

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

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.
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Old 10-04-2008, 03:38 PM
 
234 posts, read 279,210 times
Reputation: 82
Quote:
Originally Posted by luzianne View Post
I'm voting McCain.
No kidding. By now EVERYBODY knows that!!!
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Old 10-04-2008, 03:44 PM
 
Location: Charlotte
12,645 posts, read 14,728,137 times
Reputation: 1679
Quote:
Originally Posted by luzianne View Post
And you think drilling has nothing to do with the economy? I think we see who is stupid! We don't need socialist Obama as our president. And Obama voted for the bailout too. I'm voting McCain.

Tell us why the Republicans didn't vote for the Drilling Bill.



The Liberal Socialist Republicans just presided over the Largest Bailout in US History, have spent us into the Largest Deficit ever recorded, and ignored the US Constitution at every opportunity. Senator Obama voted for a bailout the Republicans begged for on bended knee.
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Old 10-04-2008, 03:46 PM
 
Location: Charlotte
12,645 posts, read 14,728,137 times
Reputation: 1679
"Banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans."
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Old 10-04-2008, 05:01 PM
 
177 posts, read 245,505 times
Reputation: 105
Quote:
Originally Posted by Mamama Mia View Post
I agree.
If you (the poster) actually knew anything about Fannie Mae and Freddie Mac you would realize that they are yet another attempt at affirmative action, attempting to make homes affordable for those without an income to buy one. Totally an idea by the Democrats and what party do you think Barney Frank belongs to??? Blaming it on the Republicans just shows that you have not researched the facts.

This bail out is pushing us closer and closer to a Socialist government.
I do know about Fannie Mae and Freddie Mac. Another attempt of affirmative action? Attempting to make home loans affordable?
I was in real estate for 8 years in California. I also worked for a loan company. I qualified my perspective clients before they bought a house or filled out a loan application. There were guidelines to follow. A person had to qualify for a loan and their credit had to be good.
The subprime loans is what got us into this mess. No qualifying loans, no down loans, interest rates were low so people could qualify and in a few years later, the interest rates went up, the people could not afford their house payment. Some people had bad credit.
Subprime could also refer to a security for which a return above the "prime" rate is received, also known as C-paper. In the United States, mortgage lending specifically, the term "subprime" can be applied to "non conforming" loans, those that do not meet Fannie Mae or Freddie Mac guidelines, generally due to one of a array of factors including the size of the loan, income to mortgage payment ratio or the quality of the documentation provided with the loan. The phrase also refers to bank loans taken on property that cannot be sold on the primary market, including loans on certain types of investment properties and to certain types of self-employed persons. Subprime lending encompasses a variety of credit types, including mortgages, auto loans, and credit cards.
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Old 10-04-2008, 05:13 PM
 
171 posts, read 248,341 times
Reputation: 24
Quote:
Originally Posted by DixieSherry View Post
Dear Senator McCain and Sarah Palin,

You worked hard these last few months campaigning. However it is not about, DRILL, DRILL, DRILL Baby, it is about the economy, STUPID!

For the last 8 years we have had the worst Government in the history of the United States. We have a administration that lies and spins the truth and has ruined our reputation throughout the world.

Senator McCain and Sarah Palin, you both have a tendency to lie too often and spin the truth. You are the best!!!
.. thank you .. perfect ..
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