Barack Obama, our next President

Full story: Hampton Roads Daily Press

"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 ...
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906,921 - 906,940 of 1,079,436 Comments Last updated 7 min ago
John Galt

Temecula, CA

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#987429
Sep 22, 2013
 

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Buy American or Drop Dead wrote:
<quoted text>
Such bs. Banks were making loans b/c they were making tons of cash on closing costs and interest payments. The riskier the loan, the higher interest rate they earned.
make it clear that banks will be allowed to fail and they will be more cautious in their loan policies...but then don't complain when lots of people are turned down...
Yeah

Mililani, HI

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#987430
Sep 22, 2013
 

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John Galt wrote:
<quoted text>
Raines was a financial advisor to Obama.
lol! And so was Charlie Black to McCain son.
Yeah

Mililani, HI

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#987431
Sep 22, 2013
 

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John Galt wrote:
<quoted text>
Raines was a financial advisor to Obama.
Oh, and Phil Gramm was part of McCain's core group too..

Rumor had it if McCain won, he would have been Treasury Secretary.
Yeah

Mililani, HI

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#987432
Sep 22, 2013
 

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John Galt wrote:
<quoted text>
Whether one wants to blame politics or mortgage bankers, there would not have been any housing bubble and subsequent collapse were it not for irresponsible buyers who "purchased" houses far beyond their financial ability.
The buyers should bear most of the blame for their circumstances.
It's more of those mortgage companies, realtors AND bankers who should hold the blame son.

THEY are the most responsible.

Since: Jun 13

Orlando, FL

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#987433
Sep 22, 2013
 

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sonicfilter wrote:
<quoted text>
seems left wing sites aren't too worried about doing follow up for FOX's lack of full reporting.
The problem is we have a self-absorbed leader who thinks he's supposed to be the winner in some kind of political game.

The winner is supposed to be the country and the people he serves.

And both sides are supposed to work together to be on the same team. A real leader makes that happen.

Obama always thinks it's his way or Republicans are responsible.
Yeah

Mililani, HI

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#987434
Sep 22, 2013
 

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EasyEed wrote:
<quoted text>
"poop"
60+% of the American public is not in favor of nobamakare. Those republican congress folks are just voting the way the public feels.
Peace
KMA
yeah... right... ok.... uh huh..........

“Weak People Blame Others”

Since: Jul 08

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#987435
Sep 22, 2013
 

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John Galt wrote:
<quoted text>Chicago needs cops who are willing to get off their butts and do the job for which they are grossly overpaid.
So what do consider a reasonable paycheck for a law enforcement officer who must face the reality that each day on the streets may be his last day on earth?

“fairtax.org”

Since: Dec 08

gauley bridge wv

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#987436
Sep 22, 2013
 

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John Galt wrote:
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Artificially low interest rates are hurting the economy.
Sure are. But I wouldn't worry. They will be going through the roof soon enough.
Yeah

Mililani, HI

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#987437
Sep 22, 2013
 

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EasyEed wrote:
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"poop"
We know, we know. You are voting for the muslim brotherhead, the girl messiahs hero.
The US should let those folks settle their own differences. They have been killing one another for what, 1500 years?
Peace
KMA
What's the problem son?

You people went in iraq for wmd's. You're claiming Assad has Saddam's wmds.

But now you're backing away?!?!?!

Sheesh! You people just can't make up your minds where you stand!

“Gloria Ad Caput Venire”

Since: Jan 08

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#987438
Sep 22, 2013
 

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EasyEed wrote:
<quoted text>
"poop"
60+% of the American public is not in favor of nobamakare. Those republican congress folks are just voting the way the public feels.
Peace
KMA
It amounts to taxation without representation and no American citizen should be subscribing or complying to this form of tyranny,imo.

“fairtax.org”

Since: Dec 08

gauley bridge wv

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#987439
Sep 22, 2013
 

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John Galt wrote:
<quoted text>
make it clear that banks will be allowed to fail and they will be more cautious in their loan policies...but then don't complain when lots of people are turned down...
But they will.

Since: Jun 13

Orlando, FL

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#987440
Sep 22, 2013
 

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Buy American or Drop Dead wrote:
<quoted text>
Such bs. Banks were making loans b/c they were making tons of cash on closing costs and interest payments. The riskier the loan, the higher interest rate they earned.
It's amazing to me how liberals such as yourself think you know more than a source like Time which tends to lean more toward your side of the fence.

But you don't even like liberal leaning sources if they don't repeat the brainwashing techniques used by the liberal media.

Seems you'd find that a little bit alarming and worrisome.
Yeah

Mililani, HI

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#987441
Sep 22, 2013
 

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John Galt wrote:
<quoted text>
Artificially low interest rates are hurting the economy.
Then perhaps you can explain how high interest rates boot the economy son.
Yeah

Mililani, HI

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#987442
Sep 22, 2013
 

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John Galt wrote:
<quoted text>
make it clear that banks will be allowed to fail and they will be more cautious in their loan policies...but then don't complain when lots of people are turned down...
They do fail and the continue to fail son.

Since: Jun 13

Orlando, FL

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#987443
Sep 22, 2013
 

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sonicfilter wrote:
<quoted text>
Flashback: George W. Bush Praising Fannie and Freddie, and Home Ownership For Those With “Bad Credit Histories”
http://www.alan.com/2010/10/27/flashback-geor...
The video couldn't be accessed on your source. So you'd have to provide another one to put into context these statements.

But here's the timeline of warnings by Bush and his administration beginning in 2001.

2001
•April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity." (2002 Budget Analytic Perspectives, pg. 142)

2002
•May: The Office of Management and Budget (OMB) calls for the disclosure and corporate governance principles contained in the President's 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac.(OMB Prompt Letter to OFHEO, 5/29/02)

2003
•February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market.

•September: Then-Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.

•September: Then-House Financial Services Committee Ranking Member Barney Frank (D-MA) strongly disagrees with the Administration's assessment, saying "these two entities – Fannie Mae and Freddie Mac – are not facing any kind of financial crisis … The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." (Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," The New York Times, 9/11/03)

•October: Senator Thomas Carper (D-DE) refuses to acknowledge any necessity for GSE reforms, saying "if it ain't broke, don't fix it." (Sen. Carper, Hearing of Senate Committee on Banking, Housing, and Urban Affairs, 10/16/03)

•November: Then-Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk." To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE." (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)

(continued...)

Since: Jun 13

Orlando, FL

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#987444
Sep 22, 2013
 

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(continued...)

2004
•February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital and calls for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore … should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)

•February: Then-CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted." Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator." (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04)

•April: Rep. Frank ignores the warnings, accusing the Administration of creating an "artificial issue." At a speech to the Mortgage Bankers Association conference, Rep. Frank said "people tend to pay their mortgages. I don't think we are in any remote danger here. This focus on receivership, I think, is intended to create fears that aren't there." ("Frank: GSE Failure A Phony Issue," American Banker, 4/21/04)

•June: Then-Treasury Deputy Secretary Samuel Bodman spotlights the risk posed by the GSEs and calls for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System." (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)

2005
•April: Then-Secretary Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America … Half-measures will only exacerbate the risks to our financial system." (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)

•July: Then-Minority Leader Harry Reid rejects legislation reforming GSEs, "while I favor improving oversight by our federal housing regulators to ensure safety and soundness, we cannot pass legislation that could limit Americans from owning homes and potentially harm our economy in the process." ("Dems Rip New Fannie Mae Regulatory Measure," United Press International, 7/28/05)

2007
•August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, the White House, 8/9/07)

•August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position.(Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07)
LCNLin

United States

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#987445
Sep 22, 2013
 

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LoisLane59 wrote:
<quoted text>
The problem is we have a self-absorbed leader who thinks he's supposed to be the winner in some kind of political game.
The winner is supposed to be the country and the people he serves.
And both sides are supposed to work together to be on the same team. A real leader makes that happen.
Obama always thinks it's his way or Republicans are responsible.
blame America first republicans,
Rule or ruin policies seem anti American to say the very least :-)
John Galt

Temecula, CA

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#987446
Sep 22, 2013
 

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Buy American or Drop Dead wrote:
<quoted text>
So what do consider a reasonable paycheck for a law enforcement officer who must face the reality that each day on the streets may be his last day on earth?
Considering that being a cop requires no special skills or education, any pay that they get above $40-50K is based entirely on their willingness to put their lives at risk. Cops in cities like Chicago rarely expose themselves to risk, preferring just to mop up after the animals kill each other.

Since: Jun 13

Orlando, FL

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#987447
Sep 22, 2013
 

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LCNLin wrote:
<quoted text>
Check mate !
Uh...you and sonic can stand your king back up.

An excerpt from Sonic's article:

"And so we've called upon Congress to set up what's called the American Dream Down Payment Fund, which will provide financial grants to local governments to help FIRST-TIME BUYERS WHO QUALIFY TO MAKE THE DOWN PAYMENT on their home. If a down payment is a problem, there's a way we can address that. And when Congress funds the program, this should help 200,000 new families over the next five years become first-time home buyers."

http://georgewbush-whitehouse.archives.gov/ne...

You both really have to be kidding me to compare a DOWN PAYMENT to QUALIFIED BUYERS with the Democrats' bad mortgage loan crisis to unqualified buyers on overpriced houses if they can just sign their name on the dotted line.

Since: Jun 13

Orlando, FL

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#987448
Sep 22, 2013
 

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I know too many words in one post stumps liberals and their little judge-its get frustrated and confused. So one at a time:

April 2001: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity." (2002 Budget Analytic Perspectives, pg. 142)

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