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
Realtime

Deltona, FL

#872869 Mar 12, 2013
palsiwalsi wrote:
<quoted text>
San Josť State University
Department of Economics
The Nature and the Origin
of the Subprime Mortgage Crisis
Now pay attention
"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. "
this is the good part
----------
"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."
"
Thayer Watkins__ scumbag trash__you should be ashamed!

“My Life Is A Shell Game”

Since: May 07

Lapeer, MI

#872870 Mar 12, 2013
Cway wrote:
<quoted text>
The only evidence you have is 9066 and it doesn't support you.
General DeWitt's order of May 3, 1942 fully supports my contention that the military came up with the idea of placing Japanese-Americans in camps.
9066 made clear the military had the right to create security zones around certain bases and exclude anyone they wished from those zones.
What the military did went far beyond this. They turned the entire West Coast into a military zone.
If you fail to comprehend this as a grotesque ursurpation of power, then you're hopeless. The military clearly bent the rules with a vengeance because it was they who wanted Japanese-Americans behind barbed wire.
I will further add that the internment process began with DeWitt's order and not before.
You are totally busted.
Let's hope you can wake up before you die and not after.

You have a low ceiling and you're hitting it right now.
Lily Boca Raton Fl

Boca Raton, FL

#872872 Mar 12, 2013
Realtime wrote:
<quoted text>Right, like that shithole/dustbowl you live is what? Paradise?
Actually Paradise CA would have been a better choice for a racist POS like yourself or the nearby Magalia which is a tad whiter for it's lack of Jews. Hah!
Let's review__Galt posted from near Reading PA for three plus years while bitchn about liberal strongholds such as CA and bragging about golf in AZ.
Galt is a joke waiting to unwind.
You forgot Texas and Bulgaria!!

“Often imitated”

Since: Jul 07

never duplicated

#872873 Mar 12, 2013
John Galt wrote:
<quoted text>
If dumbass Dave had his way and foreign profits were taxed at exorbitant US tax rates, what would prevent General Electric corporate structure from leaving the US and locating in a low-tax country?
Would that make dumbass Dave happy?
To a loony left winger the solution us to punish those who make a profit not make it attractive to move that money to the u.s. they are a short sighted bunch.
Lily Boca Raton Fl

Boca Raton, FL

#872874 Mar 12, 2013
John Galt wrote:
<quoted text>
Why not? None of their customers would care.
Why do you think most US corporations are incorporated in Delaware?
Why do you think many companies are moving to low-tax states?
Why do you think they're not moving to Florida?

“My Life Is A Shell Game”

Since: May 07

Lapeer, MI

#872875 Mar 12, 2013
Cway wrote:
<quoted text>
Hey, I'm doing fine, dufus.
Let's see...
The bank keeps the down payments and gets possession of a home at a time when homes are going up in value.
Get it now, dufus?
This is a close 2nd, but your FDR Story is funnier.

“Often imitated”

Since: Jul 07

never duplicated

#872876 Mar 12, 2013
RealDave wrote:
<quoted text>
This is why you are so GD dumb.
You take a GAO report written for Jeff Sessions that had asked what would happen if certain revenues & certain cuts were not in effect.
This is why you are such a gd sheep. Obama says it's paid for...you repeat it despite the mounts of evidence against it (and common sense). You crack me up. Lol
carol

Orlando, FL

#872877 Mar 12, 2013
Eman wrote:
<quoted text>
To a loony left winger the solution us to punish those who make a profit not make it attractive to move that money to the u.s. they are a short sighted bunch.
Eman, I worry that there is no hope for this country anymore. If we can forget our founding principles so easily how can there be any hope for our future?
carol

Orlando, FL

#872878 Mar 12, 2013
Lily Boca Raton Fl wrote:
<quoted text>
Why do you think they're not moving to Florida?
Too many Jews demanding too many services?

“Often imitated”

Since: Jul 07

never duplicated

#872879 Mar 12, 2013
NJ raider 1 wrote:
<quoted text> You really have it out for Obama. He must've f cked your wife after running a train on your mom! For people suppose to be doing so well, y'all sure do complain an awful lot! Lol!
You've described obama to a t (figuratively of course)

“Often imitated”

Since: Jul 07

never duplicated

#872881 Mar 12, 2013
Realtime wrote:
<quoted text>Thayer Watkins__ scumbag trash__you should be ashamed!
Realtime's standard response to anything he doesn't agree with.
carol

Orlando, FL

#872882 Mar 12, 2013
An insecure man will steal a woman's name and use it to buy food and stuff on her credit card which he STOLE from her underwear drawer when he was IN HER HOUSE trying on her clothes.
carol

Orlando, FL

#872883 Mar 12, 2013
Eman wrote:
<quoted text>
Realtime's standard response to anything he doesn't agree with.
Well, to be fair, he nailed it the first time. Not much incentive to alter the narrative.

“My Life Is A Shell Game”

Since: May 07

Lapeer, MI

#872884 Mar 12, 2013
shovelhead72 wrote:
<quoted text>Why does 'God' allow it to go on in the first place?
If 'God' is putting it on replay, it must be so that 'God' can watch it, and do nothing to stop it, again, and again, and again.
Some god you have there.
I strongly suspect that you are failing to wash your hands after giving massages to homeless bums and then eating lunch afterward.

It shows in your postings that your Blood-Brain Barrier has been breached.
John Galt

Temecula, CA

#872885 Mar 12, 2013
Lily Boca Raton Fl wrote:
<quoted text>
Why do you think they're not moving to Florida?
Don't know. Perhaps because of corporate taxes. Perhaps high energy costs.
carol

Orlando, FL

#872886 Mar 12, 2013
I have a pain in my left arms.. and numness in myy fingers... dwxxxly.. duffuerss doccco.. du.
carol

Orlando, FL

#872887 Mar 12, 2013
Don't worry, I'm fine. That's just debil doing what he does best.
John Galt

Temecula, CA

#872888 Mar 12, 2013
carol wrote:
<quoted text>
Too many Jews demanding too many services?
Now, that can only be Ghost impersonating Carol.

You know, the broken down draft dodger shoeshine boy from Moreno valley.
carol

Orlando, FL

#872889 Mar 12, 2013
shinningelectr0n wrote:
<quoted text>
I strongly suspect that you are failing to wash your hands after giving massages to homeless bums and then eating lunch afterward.
It shows in your postings that your Blood-Brain Barrier has been breached.
Mmmmmm... uh-huh.. massage! Like when nurse Nano gives you those full-body rub-downs...

“My Life Is A Shell Game”

Since: May 07

Lapeer, MI

#872890 Mar 12, 2013
NJ raider 1 wrote:
<quoted text> You really have it out for Obama. He must've f cked your wife after running a train on your mom! For people suppose to be doing so well, y'all sure do complain an awful lot! Lol!
The last time you tried robbing a McDonalds Drive-Thru, they slammed your velcro-head in the window and you're suffering permanent damage, Dood.

Find peace.

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