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So this is what President Obama walked into... a country absolutely ruined by Republican policies... and you expected... what?
Obama walked into a bunch of greedy bankers who got fools to sign the dotted line for a mortgage they couldn't afford. Ironically Obama is the very attorney who sued Citibank forcing banks to give low income people a mortgage, your's truly started the mess. People should understand personal finance better.
Government: we are here to help the poor.
The poor: yea! where do I sign
Banks: If they fell for that one then lets target the middle class.
The middle Class: yea! I've been wanting a bigger house.
Banks and people got greedy.
Democrat: I'm here to save the day!
People: I'll vote for you.
Rince and repeat.
People, understand personal finance and always remember, the rainy day will come.
Obama walked into a bunch of greedy bankers who got fools to sign the dotted line for a mortgage they couldn't afford. Ironically Obama is the very attorney who sued Citibank forcing banks to give low income people a mortgage, your's truly started the mess. People should understand personal finance better.
Government: we are here to help the poor.
The poor: yea! where do I sign
Banks: If they fell for that one then lets target the middle class.
The middle Class: yea! I've been wanting a bigger house.
Banks and people got greedy.
Democrat: I'm here to save the day!
People: I'll vote for you.
Rince and repeat.
People, understand personal finance and always remember, the rainy day will come.
I remember when this entire mess went down.. Within days of the market plunge there was a you tube video that outlined the Community Reinvestment Act and how this act was the beginning of the end. It was pulled mysteriously within days by you tube. I was the clearest explanation of this cluster I have every seen. To bad it was pulled.
Your right and for the low intellect Obama supporters. The very very very few of you left here it is in nut shell
Banks wouldn't loan to you if you couldn't or didn't have the ability to repay your loan
Congress thought that was discriminatory so they forced banks to loan to folks who couldn't afford to pay (minorities based on geographical location, low income etc.)
Banks loaned the money at extraordinarily high rates
They realized they could make more money by packaging them and selling them by burying the high risk loans with other instruments.
The high risk was buried within the instruments and when people didn't pay the folks that purchased them lost a ton of money which was every bank or investor on the planet.
Obama wouldn't let them fail so he bailed them out (the wealthy bankers and investors)
The low income and middle class folks lost their homes
The middle class lost their jobs
The wealthy got much much much richer. So much in fact we have the largest income gap in history
The rich are richer than ever before thanks to numb nutz in the whitehouse.
It's all ok though because numb nutz changed a couple of calculations and unemployment is fine, the stock market isn't over inflated, corporate earnings are not based on that fact none of the corporations are hiring or spending money.. It's all good.. No worries!
You know the real irony of all this? Numb nutz goesn't give to chit's about the people who put him in office. Never did, never will because his not capable of carry for anyone but himself.
Now, any questions liberal class of October 14th, 2014?
Obama walked into a bunch of greedy bankers who got fools to sign the dotted line for a mortgage they couldn't afford. Ironically Obama is the very attorney who sued Citibank forcing banks to give low income people a mortgage, your's truly started the mess. People should understand personal finance better.
Government: we are here to help the poor.
The poor: yea! where do I sign
Banks: If they fell for that one then lets target the middle class.
The middle Class: yea! I've been wanting a bigger house.
Banks and people got greedy.
Democrat: I'm here to save the day!
People: I'll vote for you.
Rince and repeat.
People, understand personal finance and always remember, the rainy day will come.
As usual, thanks for a great post. Straight forward, to the point, no BS which I appreciate. And ironically very true.
Pretty straight forward accurate description, thanks for seeing the truth.
So far this has been an interesting learning experience for me. As far as I can tell, none of the critics to date has even bothered to read the article. They're all just repeating pre-digested opinions and favorite insults, instead of actually considering what the man has to say.
As far as the diss of the two men's respective Nobel Prizes, even if you think Obama's award was premature, it should be noted that the Peace Prize is in a completely different category from the others, with different rules, voting body, even different awards procedures, etc. If you poke your head out of the echo chamber long enough to see what the world thinks about the Nobel Prizes, they're still a very big deal. And in the world of Economics, the Professor from Princeton is highly regarded, if not in the world of Fox news.
As far as the fierce opposition to Obama at every step of the way goes, it's clearly a matter for the history books already that the tea party and the radical right Republicans worked overtime from the beginning to obstruct everything Obama's administration proposed. There was a hard-core drive to make his Presidency fail, and it's been no secret. It's all been right out there in public.
Meanwhile the demographic death spiral of the right has continued, with well financed political tricks, such as gerrymandering state redistricting and imposing voter ID laws intending to hold down the Democratic vote and skewing their own ranks towards the white and male and elderly, while the population inexorable grows and the younger, more racially diverse electorate becomes more alienated by the Republicans' stubborn allegiance to business and the wealthy.
Anyone who bothers looking at the entire situation can see where the trend is going. But from reading the comments here, I doubt that many are looking at the big picture, because so many posts are just "grown up" versions of "My team can beat your team!" and "Your favorite band sucks!"
What difference might it make if people actually read more broadly and thought more rigorously, and posted thoughtful replies instead of just slinging mud like a bunch of yabbos?
"none of the critics to date has even bothered to read the article."
Because we are very familiar with this leftie and KNOW what he is going to say. He has been saying the same things for years.
I remember when this entire mess went down.. Within days of the market plunge there was a you tube video that outlined the Community Reinvestment Act and how this act was the beginning of the end. It was pulled mysteriously within days by you tube. I was the clearest explanation of this cluster I have every seen. To bad it was pulled.
Your right and for the low intellect Obama supporters. The very very very few of you left here it is in nut shell
Banks wouldn't loan to you if you couldn't or didn't have the ability to repay your loan
Congress thought that was discriminatory so they forced banks to loan to folks who couldn't afford to pay (minorities based on geographical location, low income etc.)
Banks loaned the money at extraordinarily high rates
They realized they could make more money by packaging them and selling them by burying the high risk loans with other instruments.
The high risk was buried within the instruments and when people didn't pay the folks that purchased them lost a ton of money which was every bank or investor on the planet.
Obama wouldn't let them fail so he bailed them out (the wealthy bankers and investors)
The low income and middle class folks lost their homes
The middle class lost their jobs
The wealthy got much much much richer. So much in fact we have the largest income gap in history
The rich are richer than ever before thanks to numb nutz in the whitehouse.
It's all ok though because numb nutz changed a couple of calculations and unemployment is fine, the stock market isn't over inflated, corporate earnings are not based on that fact none of the corporations are hiring or spending money.. It's all good.. No worries!
You know the real irony of all this? Numb nutz goesn't give to chit's about the people who put him in office. Never did, never will because his not capable of carry for anyone but himself.
Now, any questions liberal class of October 14th, 2014?
But wait... the financial crash that put so many people in the same position as you was a product of Republican policies that dismantled the protections put in place after the last Depression...
sounds great,
until someone actually asks you WHAT THE HELL YOU ARE TALKING ABOUT..
What Republican policies caused the crash?
it was Bush who tried to increase equity ratios of the banks to decrease lending, Democrats criticized him for wanting to reign in the banks.
oh poor baby, it must be tough to have nothing else to whine about other than the fact Republicans object to obama policies just like Democrats objected to Bushs policies and wanted him to be a one term president.
Is it really that difficult for you to understand? Really?
Everytime someone whines because republicans wanted Obama to be a one termer I jsut roll over laughing my ass off at such ignorance.
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