Barack Obama, our next President

"The road ahead will be long. Our climb will be steep," Obama cautioned. Young and charismatic but with little experience on the national level, Obama smashed through racial barriers and easily defeated ... Full Story
Lou

Yorktown Heights, NY

#812057 Nov 27, 2012
Homer wrote:
Has Fox News declared their candidate Mitt Romney the winner yet?
Are you aware that you were actually let go in 2009, but thru a computer glitch in Payroll you are still being paid? They took your stapler and are moving your desk to the basement.

Nothing else could explain the amount of time you spend on Topix while at work. Now go do some TPS Reports.

Since: May 11

Loysville, PA

#812058 Nov 27, 2012
John Galt wrote:
<quoted text>
Medicare Part D was a mistake, but would have been passed eventually by the Democrats. The cost of Part D is trivial compared to Obamacare.
Now, do you want to dwell on the mistakes of the past or attack current problems?
Obamacare was funded.

Part D was not.

Of course, to you right whiners, adding to the debt under Bush was not an issue at all.

Since: May 11

Loysville, PA

#812059 Nov 27, 2012
sage won wrote:
It's all here davey, open your eyes and see the truth:
"agencies would have to lower their standards in terms of such things as down payments and the required incomes. These subprime borrowers would be charged a higher interest rate. Having put the lending agencies into the position of granting subprime mortgages Fannie Mae then had to accept lower standards in the mortgages it purchased. That set the ball rolling. If a bank granted a mortgage to a borrower that was not likely to successfully pay off the mortgage then all the bank had to do was to sell such mortgages to Fannie Mae. The banks typically earned a loan origination fee when the mortgage was granted. The lending agencies could then make substantial profits dealing in subprime mortgages."
The banks and mortgage cos. didn't give a shit, F and F[read the taxpayers} was on the hook for the defaults.
No bank is going to loan millions and billions if their money is on the line.
Wise up.
Banks might have lowered rates or reduced down payments, but borrows still had to prove they could make the payments.

Any bank at anytime could make a bad loan & sell it to Fannie/Freddie. So why didn't they? Why do you think it would only be CRA loans? It shows your argument to be stupid.

It starts with three Republicans, Graham, Bailey, Leach.

It was investment houses getting into the housing market by buying questionable mortgages & bundling them to create investments. These investments were quite popular & created a demand for mortgages.

None had anything to do with the CRA.

Republicans opened the gates & then sat back & watched what should have been a housing problem become the driving force to becoming a near financial meltdown.

When you right whiners start blaming the CRA, you just probe how uneducated & uninformed you are.

Since: May 11

Loysville, PA

#812060 Nov 27, 2012
sage won wrote:
<quoted text>
Get educated davey, stop looking like a fool, it's all here, you can't refute one thing in here, democrats own this mess 100%. No CRA, no subprimes, no derivatives, no mortgage meltdown..
http://www.sjsu.edu/faculty/watkins/subprime....
San José State University
Department of Economics
applet-magic.com
Thayer Watkins
Silicon Valley
& Tornado Alley
USA
The Nature and the Origin
of the Subprime Mortgage Crisis
There has been a long term American policy of promoting home ownership. This entailed making the financing of home purchases as easy as possible. Various financial institutions were set up over time to make the securing of a mortgage quick and convenient. There once were Savings and Loan Associations that were savings institutions which could only invest in home mortgages. Fannie Mae (the Federal Nation Mortgage Association FNMA) was set up in 1938 to provide a secondary market for home mortgages. This meant that if a bank granted a mortgage to someone and later the bank needed funds the bank could readily sell the mortgage to Fannie Mae. However, in order for lending institutions to have access to the secondary mortgage market of Fannie Mae they had to abide by Fannie Mae's rules.
In the past Fannie Mae prohibited the lenders it was dealing with to engage in the practice of red lining. Red Lining meant that a bank would refuse to finance a home purchase in neighborhoods it consider high risk even if the prospective borrowers were themselves good credit risks. In part, this was because the bank did not want, in the event of default and foreclosure, to become the owner of property in a risky neighborhood. The deeper roots of the problem go back to the Community Reinvestment Act of 1977.
In the 1990's under the administration of Franklin Raines, a Clinton Administration appointee, Fannie Mae began to demand that the lending institutions that it dealt with prove that they were not redlining. This meant that the lending institutions would have to fulfill a quota of minority mortgage lending. This in turn meant that the lending agencies would have to lower their standards in terms of such things as down payments and the required incomes. These subprime borrowers would be charged a higher interest rate. Having put the lending agencies into the position of granting subprime mortgages Fannie Mae then had to accept lower standards in the mortgages it purchased. That set the ball rolling. If a bank granted a mortgage to a borrower that was not likely to successfully pay off the mortgage then all the bank had to do was to sell such mortgages to Fannie Mae. The banks typically earned a loan origination fee when the mortgage was granted. The lending agencies could then make substantial profits dealing in subprime mortgages.
Because Fannie Mae and Freddie Mac made a market for subprime mortgages the lenders did not have to worry about of the soundness of the mortgage contract they wrote. Thus the lenders could write the mortgages as adjustable interest rate mortgages knowing full well that an upturn in the interest rates could easily throw the borrower into insolvency. For example, when the interest rate is 6 percent the mortgage payment for a 30-year $200,000 mortgage is $1199 per month. If the interest rate goes up to 7 percent the mortgage payment would increase by $131 per month, an 11 percent increase. For many of the subprime borrowers living on the edge of insolvency this would be enough to push them over the edge. The guilt for the subprime mortgage financial crisis lies both with the lenders who knowingly put borrowers into booby trapped mortgages and the management of Fannie Mae and Freddie Mac for making a market for such booby trapped mortgages thus giving the lenders the incentive for writing them.
I get it.

If only we allowed banks to discriminate.

Typical right whiner thinking at ts best.

“fairtax.org”

Since: Dec 08

gauley bridge wv

#812061 Nov 27, 2012
sage won wrote:
<quoted text>
The plain truth is that breathing smoke from burning plant material isn't good for you, whether it's from tobacco, pot, wood or anything else. However, millions have gotten more smoke in their lungs from things like camp fires, car exhausts and barbeque's than they ever would from second hand cigarette smoke.
If anything should be worried about, it's the exhaust from IC engines in our cars, trucks and buses.. Kills me to see some doofus jogging down a busy street, huffing and puffing, sucking in vehicle exhaust.
I know that's right!!!
TheIndependentMa jority

East Bernstadt, KY

#812062 Nov 27, 2012
dem wrote:
<quoted text>
You my hillbilly azzhole are a filthy fkn liar.
Hey duhmazzworm,

What arrives first, the cream, or the cow that produced it.

REAL SIMPLE...unless you're a duhmazz flipping daydreaming, clueless retarded worm.

Are you one of THOSE duhmo?

Just wondering.

Since: May 11

Loysville, PA

#812063 Nov 27, 2012
lifes a beach wrote:
<quoted text>
Ok here's a question- show me a job where he was in charge of the economic aspect of a business or rather where he was previously educated in economic policy? He has no clue when it comes to fiscal matters, its really just obvious at this point.
Illinois State Senator. US Senator. Both has fiscal responsibilities.
TheIndependentMa jority

East Bernstadt, KY

#812064 Nov 27, 2012
RealDave wrote:
<quoted text>
I get it.
If only we allowed banks to discriminate.
Typical right whiner thinking at ts best.
How about we just go back to days of ACCOUNTABILITY-when banks etc based their financial decisions on MERIT, logistics and ability.

Toss out ALL the other poliTICal INcorrectness pandering, and just base everything on REALITY again.

Because it's discrimination, AGAINST those possessing some actual MERIT, for institutions to exist any other way.

What say ye to THAT Duh A Vey?
TheIndependentMa jority

East Bernstadt, KY

#812065 Nov 27, 2012
RealDave wrote:
<quoted text>
Illinois State Senator. US Senator. Both has fiscal responsibilities.
Jr Senator....under 10 years even

He does NOT have near enough the experience required.

BUT, given the circumstances, was there even any experience required to be a puppet on a poliTICal party string, that was puppet-mastered by dead O'Kennedy, rude blow-hard self exaulted ruler of lands of the East for 40 years?
Nope, nothing other than accepting the puppet-mastered party labelduhm nomination.
Why I actually kind of feel for the guy.
Nj raider 1

United States

#812066 Nov 27, 2012
To all my liberal thinkers, liberal meaning: free thinkers, I know it's impossible to not respond to these old america dreamers, but try not to respond to their right wingers. They're still in disbelief of the good old fashion ass whooping their nominee took. Dude yesterday said we bought everything to do with Obama. Well they definitely bought that ass whooping & it was expensive!
TheIndependentMa jority

East Bernstadt, KY

#812067 Nov 27, 2012
flack wrote:
<quoted text> I know that's right!!!
Hi Flack, How's chili-ying?

“fairtax.org”

Since: Dec 08

gauley bridge wv

#812068 Nov 27, 2012
John Galt wrote:
<quoted text>
The larger point is that the entire bottled water industry is a joke, an outrageous expense that provides little, if any, benefit over tap water.
Watch this, Blue Gold: World Water Wars It will open your eyes.
TheIndependentMa jority

East Bernstadt, KY

#812069 Nov 27, 2012
dem wrote:
<quoted text>
She's surrounding herself with her 'friends'.
I'm afraid the old battle axe might have to be euthanized.
It's what happens to rabid mutts.
They must've skipped past your cage for another day then eh duhmo?
TheIndependentMa jority

East Bernstadt, KY

#812070 Nov 27, 2012
Lou wrote:
<quoted text>Are you aware that you were actually let go in 2009, but thru a computer glitch in Payroll you are still being paid? They took your stapler and are moving your desk to the basement.
Nothing else could explain the amount of time you spend on Topix while at work. Now go do some TPS Reports.
That's not Homers stapler and desk.

It's mine dammit.

HOMERRRRRRRRRRRRRRRRRRR-you are in troublllllllllle!!!!!!!!!!
Homer

Effort, PA

#812071 Nov 27, 2012
It's snowing here, everything is white. I feel like a Minority in the Republican Party.
TheIndependentMa jority

East Bernstadt, KY

#812072 Nov 27, 2012
RealDave wrote:
<quoted text>
Banks might have lowered rates or reduced down payments, but borrows still had to prove they could make the payments.
Any bank at anytime could make a bad loan & sell it to Fannie/Freddie. So why didn't they? Why do you think it would only be CRA loans? It shows your argument to be stupid.
It starts with three Republicans, Graham, Bailey, Leach.
It was investment houses getting into the housing market by buying questionable mortgages & bundling them to create investments. These investments were quite popular & created a demand for mortgages.
None had anything to do with the CRA.
Republicans opened the gates & then sat back & watched what should have been a housing problem become the driving force to becoming a near financial meltdown.
When you right whiners start blaming the CRA, you just probe how uneducated & uninformed you are.
ALL the cogs in a wheel DUHMBO Duh A Vey. Just for the record and to be fair though-Dodd's probably had some good moments, slapping some republican stupidity down a time or two.

Sen. Chris Dodd, a Democrat from Connecticut, announced Thursday that he will maintain his chairmanship of the Senate Banking Committee in the upcoming Congressional session.

Rumors had circulated that Dodd might give up the post to seek the chair of either the Senate Foreign Relations Committee or the Health and Education Committee. Dodd is a senior member of both committees.

But with the financial crisis threatening to drag the economy into a protracted recession, the Senate Banking Committee will be on the front lines of the government’s efforts heal the housing and financial markets. As the top lawmaker on the panel, Dodd stands to boost his influence and raise his profile.
Mullins, L. Chris Dodd to Retain Banking Committee Chair. USNewsMoney.November 6, 2008
“As a United States Senator from Connecticut, there is no more important way right now that I can serve the people of Connecticut and our country than as Banking Committee Chairman,” Dodd said in a statement Thursday.“In this role, at this moment, I am confident I can do the greatest good for our nation – and create lasting change for millions of Americans.”
TheIndependentMa jority

East Bernstadt, KY

#812073 Nov 27, 2012
Homer wrote:
It's snowing here, everything is white. I feel like a Minority in the Republican Party.
YOU feel like a minority?
Quit whining Homer and give me back my stapler and desk.

Since: May 11

Loysville, PA

#812074 Nov 27, 2012
TSM wrote:
<quoted text>
RealDave the Bush recession was over in June 2009!! Obama’s pledge was to assure more Americans depended on Government its working!! I think the term he used was “Transforming America” Redistribution for Equal Outcome!!
There was no pledge to make more people dependent on government & there was no equal outcome.

You are just too uneducated & uninformed to understand the term "Redistribution of wealth" as are most of your right whiner buddies.

If you really had a case against Obama, you wouldn't need to make up the lies like you just did.
TheIndependentMa jority

East Bernstadt, KY

#812075 Nov 27, 2012
Nj raider 1 wrote:
To all my liberal thinkers, liberal meaning: free thinkers, I know it's impossible to not respond to these old america dreamers, but try not to respond to their right wingers. They're still in disbelief of the good old fashion ass whooping their nominee took. Dude yesterday said we bought everything to do with Obama. Well they definitely bought that ass whooping & it was expensive!
Good-who wants broken, flea market level JUNK anyway lol.
Nightchalker

Lansing, MI

#812076 Nov 27, 2012
dem wrote:
<quoted text>
Looking for love on topix?
You cad!
Juss like ya mudda!

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