Barack Obama, our next President

Barack Obama, our next President

There are 1252533 comments on the Hampton Roads Daily Press story from Nov 5, 2008, titled Barack Obama, our next President. In it, Hampton Roads Daily Press reports that:

"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 ...

Join the discussion below, or Read more at Hampton Roads Daily Press.

Since: May 11

Loysville, PA

#861068 Feb 18, 2013
discordian wrote:
<quoted text>
It's all here, dummy:
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.
1) The CRA said banks had to work within their community to help those who could not quite meet current standards buy mortgages by lowering the interest rate or down payment. In these cases, home buyers still had to prove they could make these payments.

2) These loans were typically long term standard (fixed interest) mortgages. The vast majority of problem mortgages were short term mortgages like interest free with a balloon payment.

3) In the housing collapse, the percent of failed mortgages that were CRA was no higher than the percentage of all loans that were CRA. If CRA loans were the cause then certainly more of these would have failed.

4) Banks hated the CRA. They were not as profitable. How did they go from hating the CRA to deciding that they loved it?

5) The loams you described are not CRA loans.

Since: May 11

Loysville, PA

#861069 Feb 18, 2013
discordian wrote:
<quoted text>
Damn doorknob, you really need an education:
Nice Business Dividends: Top 10 Corporate Tax Breaks - US News ...
www.usnews.com/.../top-10-corporate-tax-break ...
Philip Moeller
by Philip Moeller - More by Philip Moeller
Many corporate tax breaks also generate benefits for individual taxpayers, but this list only includes the amount of the benefit provided to the corporate taxpayer.
Business Tax Credits - Internal Revenue Service
www.irs.gov/Businesses/...Businesses.../Busin ...
Dec 10, 2012 – Business Tax Credits. Your general business credit for the year consists of your carryforward of business credits from prior years plus the total ...
Business Tax Credits | California Franchise Tax Board
https://www.ftb.ca.gov/businesses/bustaxcredi ...
Pay online · Electronic Funds Transfer (EFT) for corporations · Check, money order, or cash · Installment agreement · All payment options. Online Services ...
Tax Incentives Assistance Project: Business Tax Incentives
www.energytaxincentives.org/business/
Business Incentives. Commercial Buildings. Businesses can get deductions for new or renovated buildings that save 50% or more of projected annual energy .
Are you by chance mentally ill? Your ignorance and dishonesty astounds.
We are talking about oil industry subsidies. An industry that is not in need of any subsidies.

List all the crap you want, it is not relevant.

Subsidies can be used to push & shape for the good of the country.

Some subsidies are good. Some need to be eliminated.

Why do you right whiners want to keep handing money to oil companies when they are making billions.

It s really simple question that you obviously can not answer.

Since: May 11

Loysville, PA

#861070 Feb 18, 2013
discordian wrote:
<quoted text>
More of your BS, Doorknob, you got nothing but regurgitated Communist Mainifesto BS.
Why'd you ignore Facebook? Because you're dishonest.
Why'd you ignore billions lost to failed green energy? you're a liar.
Try some honesty for once.
Keep running away & changing the subject.

Are you that dumbass Floriduh?

“We doing better...”

Since: Jul 08

we've got to do more

#861071 Feb 18, 2013
discordian wrote:
<quoted text>
Jack Lew, another of Obimble's crooked buddies.
"Jack Lew, who has been nominated as the next treasury secretary, oversaw up as many as a hundred Cayman Island investments when he worked at Citi Bank as chief operating officer of the alternative investment services unit, SEC disclosures reveal. It has previously been reported that Lew himself had been invested in a fund that was based in the Cayman Islands."
Now, where have we heard about the Cayman islands before? Oh ya, the idiotic lemmings on the left were bashing Romney about it.
Libs are such douchebags
You still avoid the question about you lie regarding Dumbya's retirement activities. You clearly don't understand what hedge funds do. You obviously don't understand how the CRA worked. http://krugman.blogs.nytimes.com/

I'd feel better if I thought you could read the article and even more delirious if I thought you could understand charts and graphs, but, alas, the Limbaughtomization of the Grumpy Old Pricks depends on gormless old perverts like you.

“We doing better...”

Since: Jul 08

we've got to do more

#861072 Feb 18, 2013
http://krugman.blogs.nytimes.com/ If it doesn't get you to CRA immediately then add "Things Everyone in Chicago Knows" (but anything there with Krugman might improve your understanding.)
Taxpayer

Point Harbor, NC

#861073 Feb 18, 2013
sonicfilter wrote:
<quoted text>
Are Gas Prices The President's Fault? Fox News Contradicts Itself Playing The Blame Game
The message Fox has on again/off again observed is overwhelmingly clear: no president has the power to influence gas prices in light of a complex geopolitical climate and myriad other market forces affecting supply and demand.
http://www.hybridcars.com/fox-news-contradict...
oh, oh, oh, unless it's Obama!
so speaking of brain dead hypocrites....
Yes they are and he does. EPA

“Constitutionalis t”

Since: Dec 10

Spring, TX

#861074 Feb 18, 2013
Nuculur option wrote:
Where did the money come from to pay for Bush's Government.
You haven't answered that yet.
If you do, you'd see why we're in such debt.
But then, youre as ignorant about this as you are about geothermal HVAC.
Old Raider made a fool of you, and Im not about to take my foot off your neck about it!!
Where does the heat removed from a building go??
BWAHAHAHAHAHAHA
<quoted text>
"Where did the money come from to pay for Bush's Government."
http://www.usgovernmentspending.com/
The debt was piled up by the Democrats since they took control of all the purse strings of government in January, 2007. Click the link to get the facts, dufus.
Bush isn't president, dufus. Bush hasn't been president for 4 years, dufus. That was damn near 8 trillion dollars ago.

Where will the money come from to pay for Obama's government?

"Where does the heat removed from a building go?"

Where it is transported to. If the Earth doesn't transport it, it just goes right back into the goddam building, dufus. I'm betting you're so ignorant you think you can cool a room by opening the refridgerator door.
Why don't you tell us why that doesn't happen, dufus.

And the rest of your Walter Mitty rant is... more wishful bullshit from you.

Now, where will the money come from to pay for Obama's government?

“wake up”

Since: Jan 10

utica ny

#861075 Feb 18, 2013

“Constitutionalis t”

Since: Dec 10

Spring, TX

#861076 Feb 18, 2013
RealDave wrote:
<quoted text>
Keep running away & changing the subject.
Are you that dumbass Floriduh?
You keep running away from this like a dog escaping from Michael Vick's house.

Where will the money come from to pay for Obama's government?

You have to identify a source of money to answer the question.

And, the Treasury Department isn't a source of money. It's a repository for money collected from a source of money. Besides, the Treasury Department is almost 17 goddam trillion dollars in debt. There isn't any money there, anyway.

So, where will the money come from to pay for Obama's government?

Since: Jun 07

Location hidden

#861077 Feb 18, 2013
Howdy Gang! Checking back in...I completed the 26.2 with Donna HALF-MARATHON in 4:29:58....I did it! That is a LOOOOOOOOOOOOOOONG walk! Ran a little bit near the top of the Intercoastal Waterway bridge on JT Butler Boulevard. There were about 100 folks at the top of the span cheering us all along. Ran the last .2 miles across the finish line. The photos will be available soon. The race began with temps in the 20's. Thank GOD the sun was shining!

“Constitutionalis t”

Since: Dec 10

Spring, TX

#861078 Feb 18, 2013
RealDave wrote:
<quoted text>
1) The CRA said banks had to work within their community to help those who could not quite meet current standards buy mortgages by lowering the interest rate or down payment. In these cases, home buyers still had to prove they could make these payments.
2) These loans were typically long term standard (fixed interest) mortgages. The vast majority of problem mortgages were short term mortgages like interest free with a balloon payment.
3) In the housing collapse, the percent of failed mortgages that were CRA was no higher than the percentage of all loans that were CRA. If CRA loans were the cause then certainly more of these would have failed.
4) Banks hated the CRA. They were not as profitable. How did they go from hating the CRA to deciding that they loved it?
5) The loams you described are not CRA loans.
You have no possible way of supporting your statement "In the housing collapse, the percent of failed mortgages that were CRA was no higher than the percentage of all loans that were CRA. If CRA loans were the cause then certainly more of these would have failed."
You just pulled that lie out of the air.

The failed CRA loans were bundled into traunches and sold to "Special Purpose Vehicles".
A "Special Purpose Vehicle" is an offshore company created by a holder of these failed CRA loans. The mother company creates the Special Purpose Vehicle in a foreign country, then sells the traunches comprised of the failed CRA loans to the Special Purpose Vehicle, which removed the individual CRA loans from their accounting books. The mother company then bought the traunch back as a single line item in their books.
The short story is, it is impossible to count the failed CRA loans and do a statistical analysis, like you claim was done.

Or, perhaps that is wrong.
Please tell us how you convinced the governments of the countries where these Special Purpose Vehicles were created to force the Special Purpose Vehicles to open their books for your inspection.

Perhaps you need to be reminded of the fact that the Director of OFHEO testified that Fannie Mae and Freddie Mac were keeping fraudulent books and hiding the massive CRA failure even in 2003.

http://online.wsj.com/article/SB1222905743912...

Do you every open your mouth and not lie?

“My Life Is A Shell Game”

Since: May 07

Lapeer, MI

#861079 Feb 18, 2013
martinezjosei wrote:
LIBERALISM: Moochers electing looters to steal from producers.
"You didn't build that". We did so we're taking it away from you.

“My Life Is A Shell Game”

Since: May 07

Lapeer, MI

#861080 Feb 18, 2013
NY Times - Obama Seeking to Boost Study of Human Brain: http://tinyurl.com/axygxlb

He can donate his for the study right now.
RUSH10ME

Lawrenceville, VA

#861081 Feb 18, 2013
shinningelectr0n wrote:
NY Times - Obama Seeking to Boost Study of Human Brain: http://tinyurl.com/axygxlb
He can donate his for the study right now.
The worlds first labotamy performed on a teleprompter??

Since: May 11

Loysville, PA

#861082 Feb 18, 2013
DBWriter wrote:
<quoted text>
You have no possible way of supporting your statement "In the housing collapse, the percent of failed mortgages that were CRA was no higher than the percentage of all loans that were CRA. If CRA loans were the cause then certainly more of these would have failed."
You just pulled that lie out of the air.
The failed CRA loans were bundled into traunches and sold to "Special Purpose Vehicles".
A "Special Purpose Vehicle" is an offshore company created by a holder of these failed CRA loans. The mother company creates the Special Purpose Vehicle in a foreign country, then sells the traunches comprised of the failed CRA loans to the Special Purpose Vehicle, which removed the individual CRA loans from their accounting books. The mother company then bought the traunch back as a single line item in their books.
The short story is, it is impossible to count the failed CRA loans and do a statistical analysis, like you claim was done.
Or, perhaps that is wrong.
Please tell us how you convinced the governments of the countries where these Special Purpose Vehicles were created to force the Special Purpose Vehicles to open their books for your inspection.
Perhaps you need to be reminded of the fact that the Director of OFHEO testified that Fannie Mae and Freddie Mac were keeping fraudulent books and hiding the massive CRA failure even in 2003.
http://online.wsj.com/article/SB1222905743912...
Do you every open your mouth and not lie?
I actually have read a few studies.

Here is one:

"Two basic points emerge from our analysis of the available data. First, only a small portion of subprime mortgage originations is related to the CRA. Second, CRA-related loans appear to perform comparably to other types of subprime loans. Taken together, the available evidence seems to run counter to the contention that the CRA contributed in any substantive way to the current mortgage crisis."

http://www.minneapolisfed.org/publications_pa...

There are others.

“My Life Is A Shell Game”

Since: May 07

Lapeer, MI

#861084 Feb 18, 2013
Nj raider 1 wrote:
<quoted text> What opportunities are you harping on? Did you ever think the need for affirmative action points directly to the inequalities/biases black people face. If blacks have more opportunities, why then don't you state them & make them clear because affirmative action only made it so a certain% of black were offered the same opportunities as white people. Please do back up your claims with evidence. Teach me something I don't know!
You are indocile, recalcitrant, intractably stupid and unteachable, Jerk. That's why you and the highest-percentage prison population needs your precious Affirmative Action.

And now the Jerk-In-Chief pizzes in the coffee.

Obama’s EEOC: We’ll Sue You If You Don’t Hire Criminals: http://tinyurl.com/d6mllzm

Affirmative Action was bad and now the Boy Messiah makes it downright Evil. Stay Tuned. It can only get worse from here on out.

“My Life Is A Shell Game”

Since: May 07

Lapeer, MI

#861085 Feb 18, 2013
Homer 2016 wrote:
<quoted text>Because whites are still 72% of the population and I know you don't believe this but racism is still alive and well and thriving in some areas.
Especially in the White House.

BTW. Ask Jamie Foxx, Black Panthers, Trayvon Martin and the NAACP about it, too, Idiot.

“My Life Is A Shell Game”

Since: May 07

Lapeer, MI

#861086 Feb 18, 2013
Homer 2016 wrote:
<quoted text>Affirmative action is a joke, companies can easily get around it.
:)

How's that? Spray Bleach?

“My Life Is A Shell Game”

Since: May 07

Lapeer, MI

#861087 Feb 18, 2013
sonicfilter wrote:
<quoted text>
....the life prospects of an American are more dependent on the income and education of his parents than in almost any other advanced country for which there is data.
How do we explain this? Some of it has to do with persistent discrimination. Latinos and African-Americans still get paid less than whites, and women still get paid less than men, even though they recently surpassed men in the number of advanced degrees they obtain.
http://opinionator.blogs.nytimes.com/2013/02/...
your view is all about white male privilege....
and those of them who failed in life who need to blame others.
When you were brainwashed, the brain went down the drain.

What's left is a persistent neural flashing from the Brainstem.

“My Life Is A Shell Game”

Since: May 07

Lapeer, MI

#861088 Feb 18, 2013
Homer 2016 wrote:
<quoted text>A level playing field still does not exist for minorities in this country.
Digging their own hole makes an uneven playing field. That's their problem, Dood. Regardless of lies spewed by the NAACP, Black Panthers and the Boy Messiah, I should not be penalized for the personal failures of drug-dependent, parentless losers.

A person's total lack of personal responsibility cannot be fixed by any government's socialist policies. Call it Affirmative Action, Free Cellphones or Equality or Social Justice or any of the hundreds of keywords and key-phrases used by the Ultra-Left Wingnut thieves but it still rings of theft rising up from jealousy.

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