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
Leggy Mountbatten

Broomfield, CO

#913730 May 28, 2013
NJ raider 1 wrote:
<quoted text> That was your best one yet, your learning!
Here's another for ya buddy of butts! Last one for the night Honky Tonk Man, I'm getting tired.
Fenris & John Galt are talking about bring gay or bisexual, when Honky Tonk Man says"well women don't want me &, gays stay away so, my only option is to bisexual intercourse if I want it! Goodnight closet case!
What's up, black sap?

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Since: Mar 10

Location hidden

#913731 May 28, 2013
RESISTANCE IS FUTILE THE OBAMINATION OF AMERICA WILL PUSH FORWARD JUST AS I PLANNED IT! HAHAHAHAHAHAHAAHAHA
Leggy Mountbatten

Broomfield, CO

#913732 May 28, 2013
PDUPONT wrote:
<quoted text>
Your conclusions have been proved on numerous occasions to be pure bull crap.
Idiot:

The Government-Created Subprime Mortgage Meltdown

by Thomas J. DiLorenzo

The thousands of mortgage defaults and foreclosures in the "subprime" housing market (i.e., mortgage holders with poor credit ratings) is the direct result of thirty years of government policy that has forced banks to make bad loans to un-creditworthy borrowers. The policy in question is the 1977 Community Reinvestment Act (CRA), which compels banks to make loans to low-income borrowers and in what the supporters of the Act call "communities of color" that they might not otherwise make based on purely economic criteria.

The original lobbyists for the CRA were the hardcore leftists who supported the Carter administration and were often rewarded for their support with government grants and programs like the CRA that they benefited from. These included various "neighborhood organizations," as they like to call themselves, such as "ACORN" (Association of Community Organizations for Reform Now). These organizations claim that over $1 trillion in CRA loans have been made, although no one seems to know the magnitude with much certainty. A U.S. Senate Banking Committee staffer told me about ten years ago that at least $100 billion in such loans had been made in the first twenty years of the Act.

So-called "community groups" like ACORN benefit themselves from the CRA through a process that sounds like legalized extortion. The CRA is enforced by four federal government bureaucracies: the Fed, the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation. The law is set up so that any bank merger, branch expansion, or new branch creation can be postponed or prohibited by any of these four bureaucracies if a CRA "protest" is issued by a "community group." This can cost banks great sums of money, and the "community groups" understand this perfectly well. It is their leverage. They use this leverage to get the banks to give them millions of dollars as well as promising to make a certain amount of bad loans in their communities.

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John Galt

Temecula, CA

#913733 May 28, 2013
Leggy Mountbatten wrote:
<quoted text>
The filthy, scumbag white traitorous slut on the bench has ruled these items out.
This court is a lynch mob, but the minute the prosecution tries to portray Obama's son as an angel, it will all come back in, or be overturned on appeal.

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Since: Mar 10

Location hidden

#913734 May 28, 2013
WHAT NOBODY RECOGNIZES HITLERS REINCARNATION WITH HIS FUNNY MEXICAN WRESTLING MASK ON? DIOS MIO!
Leggy Mountbatten

Broomfield, CO

#913735 May 28, 2013
San Josť State University
Department of Economics

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.

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John Galt

Temecula, CA

#913736 May 28, 2013
NJ raider 1 wrote:
<quoted text> That was your best one yet, your learning!
Here's another for ya buddy of butts! Last one for the night Honky Tonk Man, I'm getting tired.
Fenris & John Galt are talking about bring gay or bisexual, when Honky Tonk Man says"well women don't want me &, gays stay away so, my only option is to bisexual intercourse if I want it! Goodnight closet case!
Obama is the only homosexual on this thread..well, maybe Patrick.

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Leggy Mountbatten

Broomfield, CO

#913737 May 28, 2013
"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. "

Who controlled F and F ? Franklin Raines, Jim Johnson, both dems who reaped millions and were never charged with their crimes against the taxpayers.

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American Lady

Danville, KY

#913738 May 28, 2013
John Galt wrote:
<quoted text>
Yeah = Ghost?
Ghost can't stay away.
Ok :)
I know he's usually here.
Maybe he already "got" the BAD news ...

;~)

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NJ raider 1

Newark, NJ

#913739 May 28, 2013
Leggy Mountbatten wrote:
<quoted text>
What's up, black sap?
Nuttin bitch! I'm tired so I'll get at you later. She's my dog/my bitch, I mean literally!

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John Galt

Temecula, CA

#913743 May 28, 2013
Fenris the Big Bad Wolf wrote:
<quoted text>
R U sayng moochelle is actually a dude?
No. Obama is probably a switch-hitter.

Moochelle is just a black prop that Obama needed for street cred in Chicago.

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Leggy Mountbatten

Broomfield, CO

#913745 May 28, 2013
Yeah wrote:
<quoted text>Having problems with the small ones, huh?
Oh well.....
No need to thank me, Fartsack:

Stop bad breath today
TheraBreath has your bad breath solution guaranteed. Shop now.
www.TheraBreath.com

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Leggy Mountbatten

Broomfield, CO

#913746 May 28, 2013
John Galt wrote:
<quoted text>
This court is a lynch mob, but the minute the prosecution tries to portray Obama's son as an angel, it will all come back in, or be overturned on appeal.
It will only take one honest, decent person to free Zimmerman.
I knew when I saw OJ's jury he would never be convicted.

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Leggy Mountbatten

Broomfield, CO

#913747 May 28, 2013
John Galt wrote:
<quoted text>
This court is a lynch mob, but the minute the prosecution tries to portray Obama's son as an angel, it will all come back in, or be overturned on appeal.
The media, including Fox, is still showing the 12 year old TRAYGONE, DISGUSTING.

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Whatever

Gering, NE

#913749 May 28, 2013
John Galt wrote:
Second thoughts about Governor Christie.
He got Obama to come to New Jersey and campaign for Christie's re-election.
Crazy like a fox.
Yep and promote the opening of the boardwalk. Big plus for him.

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“It's all about the struggle”

Since: Jun 10

Location hidden

#913751 May 28, 2013
shinningelectr0n wrote:
<quoted text>
IMHO, 60% of WalMart customers are Left-Weenies suckling at the Magic Negro's privates. You can learn a lot by just walking around WalMart and observing activities and folks in the parking lot.
So...what were you saying about rightwingers and China again....???
Our local Walmart has hookers that frequent its parking lot on Friday and Saturday nights. I don't go there at night anymore since some creepy guy tried the "Hey baby" on me while parked in the fire lane. It is not pleasant to be mistaken for a hooker.

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Yeah

Mililani, HI

#913752 May 28, 2013
Leggy Mountbatten wrote:
<quoted text>
No need to thank me, Fartsack:
Stop bad breath today
TheraBreath has your bad breath solution guaranteed. Shop now.
www.TheraBreath.com
Just to put your anxiety at rest, I wasn't going to son!

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Yeah

Mililani, HI

#913753 May 28, 2013
Leggy Mountbatten wrote:
<quoted text>
It will only take one honest, decent person to free Zimmerman.
I knew when I saw OJ's jury he would never be convicted.
... or one dishonest one!

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Yeah

Mililani, HI

#913754 May 28, 2013
John Galt wrote:
<quoted text>
This court is a lynch mob, but the minute the prosecution tries to portray Obama's son as an angel, it will all come back in, or be overturned on appeal.
amazing. I suggest you go to a country isn't a lynch mob.

may I suggest.... iran? have fun!

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Yeah

Mililani, HI

#913755 May 28, 2013
Leggy Mountbatten wrote:
<quoted text>
Idiot:
The Government-Created Subprime Mortgage Meltdown
by Thomas J. DiLorenzo
The thousands of mortgage defaults and foreclosures in the "subprime" housing market (i.e., mortgage holders with poor credit ratings) is the direct result of thirty years of government policy that has forced banks to make bad loans to un-creditworthy borrowers. The policy in question is the 1977 Community Reinvestment Act (CRA), which compels banks to make loans to low-income borrowers and in what the supporters of the Act call "communities of color" that they might not otherwise make based on purely economic criteria.
The original lobbyists for the CRA were the hardcore leftists who supported the Carter administration and were often rewarded for their support with government grants and programs like the CRA that they benefited from. These included various "neighborhood organizations," as they like to call themselves, such as "ACORN" (Association of Community Organizations for Reform Now). These organizations claim that over $1 trillion in CRA loans have been made, although no one seems to know the magnitude with much certainty. A U.S. Senate Banking Committee staffer told me about ten years ago that at least $100 billion in such loans had been made in the first twenty years of the Act.
So-called "community groups" like ACORN benefit themselves from the CRA through a process that sounds like legalized extortion. The CRA is enforced by four federal government bureaucracies: the Fed, the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation. The law is set up so that any bank merger, branch expansion, or new branch creation can be postponed or prohibited by any of these four bureaucracies if a CRA "protest" is issued by a "community group." This can cost banks great sums of money, and the "community groups" understand this perfectly well. It is their leverage. They use this leverage to get the banks to give them millions of dollars as well as promising to make a certain amount of bad loans in their communities.
ROTFLMAO!!! DiLorenzo is simply a hired gun son.

Pay him money and he says whatever you want... just like a right wing idiot!

" DiLorenzo and the Tobacco Industry

DiLorenzo served as a research fellow at the Independent Institute and the Capital Research Center, two public policy think tanks that have accepted tobacco industry funding.[2] In 1994 the Independent Institute accepted funds from R.J. Reynolds (RJR) specifically to fund anti-tobacco control research by DiLorenzo.[3]

DiLorenzo was paid $30,000 by R.J. Reynolds to write a book called "CancerScam" denigrating the ASSIST Project, a 17-state national tobacco control program, and "Unhealthy Charities" a book attacking the major voluntary health charities (American Heart Association, American Cancer Society, American Lung Association). Pay request was sent to R.J. Reynolds and payments made to the Atlas Economic Research Foundation.[4]

DiLorenzo has co-authored books funded by tobacco companies with James T. Bennett of George Mason University. In 1995, Bennett and DiLorenzo billed RJR $100,000 [4] to produce a book a called Cancerscam: the diversion of federal cancer funds to politics, that attacked health charities for spending what the authors deemed a disproportionate amount of their income on political advocacy. The authors argued the money should be spent on research instead. The Cancerscam book comported perfectly with a 1993 Philip Morris internal Corporate Affairs plan to work towards constraining health charities by restricting how much of their funds could be spent on research and capping the amount the charities could spend on salaries and lobbying. Bates Page -6028 of the 119 page plan..."

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