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Old 06-30-2013, 11:03 PM
 
Location: Pine Grove,AL
29,377 posts, read 16,289,495 times
Reputation: 5921

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Quote:
Originally Posted by petch751 View Post
Barack Obama, Fabian Socialist

1. Strong, centralized government.

2. Powerful Executive at the expense of Congress and the Judicial.

3. Government controlled banking, credit and securities exchange.

4. Government control over employment.

5. Unemployment insurance, old age pensions.

6. Universal medical care, food and housing programs.

7. Access to unlimited government borrowing.

8. A managed monetary system.

9. Government control over foreign trade.

10. Government control over natural energy sources, transportation and agricultural production.

11. Government regulation of labor.

12. Youth camps devoted to health discipline, community service and ideological teaching consistent with those of the authorities.

13. Heavy progressive taxation.
What is your point ?
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Old 06-30-2013, 11:34 PM
 
69,368 posts, read 63,824,713 times
Reputation: 9383
Quote:
Originally Posted by dsjj251 View Post
Your video shows a time when Dems were not even in control of congress, your own words blame Dems while they were in the minority.

you #FAIL, simple as that.
You know, I often ask myself why people have a view that the education system in america is failing the nation, and then I come to these forums to remind myself how its true.

Once again, ONE DOES NOT NEED TO BE IN CONTROL TO STOP activities of the majority. The left wing moaned and groaned to no end that the GOP was stopping things from happening, even though they didnt hold one branch of government for Obamas beginning of his term, but now all of a sudden they play stupid because the Republicans held Congress.

What failed is your understanding of our polical process, and that cant be blamed on me.
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Old 07-01-2013, 04:33 AM
 
79,900 posts, read 43,863,085 times
Reputation: 17184
Quote:
Originally Posted by dsjj251 View Post
which makes them contradictions, are you claiming they arent, then explain why they arent.
I didn't make the claim, you did. It's up to you to explain why they were.
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Old 07-01-2013, 04:35 AM
 
79,900 posts, read 43,863,085 times
Reputation: 17184
Quote:
Originally Posted by pghquest View Post
You know, I often ask myself why people have a view that the education system in america is failing the nation, and then I come to these forums to remind myself how its true.

Once again, ONE DOES NOT NEED TO BE IN CONTROL TO STOP activities of the majority. The left wing moaned and groaned to no end that the GOP was stopping things from happening, even though they didnt hold one branch of government for Obamas beginning of his term, but now all of a sudden they play stupid because the Republicans held Congress.

What failed is your understanding of our polical process, and that cant be blamed on me.
I'll bet they know the process enough to understand that banking reform can be added to any old bill that came across the floor.

You didn't seem to.
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Old 07-01-2013, 05:24 AM
 
Location: Florida
76,825 posts, read 47,146,947 times
Reputation: 14715
Quote:
Originally Posted by pknopp View Post
If Greenspan is the captain of the Titanic, Romer is one of those on look out. "Nothing out there to see".
The problem with that argument is the fact the the Fed was supposed to be the look out.
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Old 07-01-2013, 05:29 AM
 
Location: Florida
76,825 posts, read 47,146,947 times
Reputation: 14715
Quote:
Originally Posted by BigJon3475 View Post
You can only move forward if you acknowledge the wrong-doing of the past.
That's my point. They seem incapable of admitting they made some serious errors and although the economy collapsed after they had been in total control for a long time, the only thing they can do is to blame it on someone else. It is ironic they call themselves the party of personal responsibility.

Quote:
I'm not ignoring Bush's role in the housing crisis. But it's an outright lie that nothing was ever proposed to try to curb those practices. Was it the right legislation? Probably not. Was it an attempt? Yes.
Why do you think the GOP told Bush to shut the heck up when he made this "attempt"? Because he didn't propose to solve a problem, he proposed to take the power of regulation from the Congress and move that responsibility to the White House. It was such a blatant power grab attempt that even the GOP laughed at him. Had he been given those powers we would not be in bad shape now, we'd be FINISHED. Bush signed 41 measures to make the crises worse, and if they had given him the dictatorial powers he demanded, there would have been no need for him to ever consult the Congress.
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Old 07-01-2013, 07:17 AM
 
Location: Long Island
56,815 posts, read 25,763,066 times
Reputation: 15416
Quote:
Originally Posted by pghquest View Post
The government currently guarantees upwards of 97% of all mortgages. If you think thats a small part then I dont know what to tell you.

There was attempts beginning in 2003 to reform the mortgage industry, and those reforms would have reduce home prices continuing to go out of control. Yes our economy was based upon a lot of debt created from the mortgage industry, but we dont live in a zero economy. If the money wasnt loaned to mortgages, it would have had to be spent elsewhere.
We are speaking to 2008 - FF had less than half of the mortgage market, quite different today.

The real estate industry was the engine that drove the country back in 2003+ no one wanted to expose the truth, not democrats, not republicans.
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Old 07-01-2013, 07:29 AM
 
Location: Florida
76,825 posts, read 47,146,947 times
Reputation: 14715
Quote:
Originally Posted by dsjj251 View Post
What is your point ?
The point is to demonstrate the power of the Copy/Paste function.
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Old 07-01-2013, 07:49 AM
 
Location: Long Island NY
556 posts, read 619,437 times
Reputation: 394
An article from September 30, 1999:


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Business Day

COLLECTIONS>BORROWERS

Fannie Mae Eases Credit To Aid Mortgage Lending


By STEVEN A. HOLMES
Published: September 30, 1999





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.
In addition, 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.











''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''
Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''
Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.
Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.
Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.
Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent.
In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent.
Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings.
In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.
The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants.
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Old 07-01-2013, 11:02 AM
 
Location: Barrington
63,919 posts, read 46,439,217 times
Reputation: 20674
Quote:
Originally Posted by KUchief25 View Post
And they are still doing it and the government is encouraging it every step of the way. Low interest loans, cash for clunkers, no incentive to save any money as rates are at nothing. Spend spend spend. Debt debt debt. Enslave everyone in debt.
Right up to the Great Depression the most mortgage loan required a 50% down payment and carried a 5 year maturity. At that time, the homeowner could refinance at current rates or pay it off.

About 50% of all homes were in foreclosure during the Great Depression. Most banks who survived the Great Depression would not loan for a mortgage. The New Deal changed all that. It created a structure for mortgage-backed securities, extended maturities to make housing more affordable. The GI bill, created for returning WW2 veterans allowed them to buy at no money down. This created the housing boom in the 50-60's and helped put people back to work.

Adults have a choice to pay rent or pay a mortgage or sponge off others. I am sorry you view adulthood as enslavement.
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