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A typical uninformed post... check the value of the market over the Bush era it declined 39% This was during Bush's reign of terror and had nothing to do with Obama. To blame Obama prior to taking office is just more ignorance. Intellectually I think you are a peer to W.
Quote:
Originally Posted by sanrene
Since his election on Nov 4th, the market has tanked.
I guess the market finally realizes what obama has in store for us.
A typical uninformed post... check the value of the market over the Bush era it declined 39% This was during Bush's reign of terror and had nothing to do with Obama. To blame Obama prior to taking office is just more ignorance. Intellectually I think you are a peer to W.
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.
Fannie Mae Eases Credit To Aid Mortgage Lending - New York Times (http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F9582 60&sec=&spon=&pagewanted=all - broken link)
The top recipient of insurance industry contributions was Senator Christopher Dodd (D-CT).[32] The leading contributor from the insurance industry — as measured by total political contributions — was AFLAC, Inc., which contributed $907,150 in 2007.[33]
The Center for Public Integrity has criticized Dodd for "being the leading advocate in the Senate on behalf of the accounting industry."[10][11]Dick Morris wrote that Dodd had received more from accounting firm Arthur Andersen than any other Democrat and bore responsibility for trying to shield accounting firms from investor fraud liability in cases such as the Enron scandal.[12] Political consultant and commentator
President Bill Clinton's former speechwriter Josh Gottheimer noted in his book, Ripples of Hope: Great American Civil Rights Speeches, that Frank is one of the nation's "brightest and most energetic defenders of civil rights[5] In 2007 Frank became the chairman of the House Financial Services Committee which oversees housing and banking industries. The issues".New York Times called Frank one of the most powerful members of Congress noting "his ability to build bridges across party lines to pass legislation".[6]
In September 2003, Frank, then the ranking Democrat on the Republican-led Financial Services Committee, opposed Bush administration proposals for transferring oversight of Fannie Mae and Freddie Mac by creating an independent agency to supervise. "The administration's proposal, which was endorsed in large part ... by Fannie Mae and Freddie Mac, would not repeal the significant government subsidies ... [it] does not alter the implicit guarantee that Washington will bail the companies out ... Nor would it remove the companies' exemptions from taxes and antifraud provisions of federal securities laws." The proposal would have moved oversight from Congress and the Department of Housing and Urban Development to the new agency. Frank stated in 2003, "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."[38]affordable housing".[38]Frank stated that the bill would potentially "[weaken] the bargaining power of poorer families and their ability to get
This thread is hilarious. Bush drives the bus of our economy off a cliff and the hard right holdouts are trying to blame the stock market crash on Obama. LOL.
OK, so who gets the blame for the fall from nearly 14,000? Well, we're waiting? Got an answer?
This thread is hilarious. Bush drives the bus of our economy off a cliff and the hard right holdouts are trying to blame the stock market crash on Obama. LOL.
OK, so who gets the blame for the fall from nearly 14,000? Well, we're waiting? Got an answer?
While the dumbest of the dumb think one person burned up all the cash... Life start for you in 2001?
Of course it had to do with that, but why shift the blame to bush only? Did we not stand and show our famed american pride as the first wave of troops headed to Iraq, only do desert them when it served us no further purpose, When the bills starting arriving? Did american companies really think that outsourcing to save a few bucks would eventually have no toll on the job market? Did supporters of laxed immigration laws think that aliens would not impact our economy....the list goes on. The point is WE ALL SHARE THE BLAME, NOT JUST BUSH!
Our markets will be in free-fall no matter who would come into office. My hope ist that our new President's primary task is to initiate legislation to re-build credit markets that have collapsed. That must involve stabilizing the housing market (that will act to up the conventional mortgage limit). Prices will settle down from this action; more homeowners can have a better chance of re-claiming equity lines which were in many cases eliminated (as equity was perceived as evaporating, given the home value plunge). If equity is re-established, owners will have credit lines to do wonderful things like a) cover their children's education, where there are short-falls in pay-as-you-go; b) re-prime the housing market, as real equity that can be converted through home sales at more than fire-sale pricing can support down payments on new homes; c) renewed home maintenance and upgrades will re-stimulate countless businesses; and d) stabilized home prices with sustain property taxes that mean county governments don't go out have massive layoffs, or take a dangerous path of floating junk-bonds to prop up their services.
Just my 10 cents....
No quit defending this new President who said, "Call me if you need me" during our bank meltdown. He promised change so where is it?
If he claims he can make the oceans recede then why can't he fix the stock market? Oh, wait, Obama actually said "he doesn't understand the stock market" but the MSM failed to fully report that one. People should have read the fine print before they signed the contract.
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