Barack Obama, our next President

Barack Obama, our next President

There are 1522229 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.

“no one told me”

Since: Dec 07

Denver

#1022065 Nov 11, 2013
Realtime wrote:
<quoted text>Debunked__Thos DeLorenzo is a for hire scumbag__everyone posting here knows that and chuckles when fksticks like you cite that mutt.
What else you got???
Sorry, Squeeler, but here's more:

San José 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"
TSM

United States

#1022066 Nov 11, 2013
lily boca raton fl wrote:
<quoted text>
Spoken like a true caveman "you wanted eat", grunt. gfy, you Texans are a bunch of dummies.
I know a Job to Liberals is like kryptonite is to Superman!!
John Galt

Temecula, CA

#1022067 Nov 11, 2013
dont snow me wrote:
<quoted text>
on that topic, despite being just to the right of Attila the Hun, I believe we have to stop spending obscene amounts of money on the military. Keep the foreign entanglements to a bare minimum for starters.
agreed...but that doesn't mean spending the money on welfare programs instead...
John Galt

Temecula, CA

#1022068 Nov 11, 2013
PDUPONT wrote:
<quoted text>
And exactly how are we doing that?
ObamaKKKare and homosexuality, for starters...
LCNLin

United States

#1022069 Nov 11, 2013
LoisLane59 wrote:
<quoted text>
You didn't post a link or the date of this data. But according to an International Science Times' article published in September 2013:
"The incredible arctic ice growth after the record low of 2012 is significant. Just six years ago, a science article from the BBC reported that global warming would leave the Arctic ice-free by the summer of 2013. The indication of global cooling indicates the opposite. According to monitors, the Arctic now features an unbroken ice sheet that is larger than half of Europe. The sheet stretches from the Canadian islands all the way to Russia's northern shores."
http://www.isciencetimes.com/articles/6040/20...
And according to the Intergovernmental Panel on Climatic Change in September 2013:
"Records of past climate changes suggest an altogether different scenario for the 21st century. Rather than drastic global warming at a rate of 0.5 ° C (1° F) per decade, historic records of past natural cycles suggest global cooling for the first several decades of the 21st century followed by global warming from about 2030 to 2060 and renewed global cooling from about 2060 to 2090."
http://www.globalresearch.ca/global-cooling-i...
It's a pattern - climate. You made Al Gore rich for nothing.
Benghazi hoax onto to the global warming tea party ;-)
lily boca raton fl

Boca Raton, FL

#1022070 Nov 11, 2013
dont snow me wrote:
<quoted text>
This isn't American Bandstand, fatboy.
So, what business are you in?
LCNLin

United States

#1022071 Nov 11, 2013
lily boca raton fl wrote:
<quoted text>
He had a long and close relationship with Jimmy Carter.
Meanwhile back at the ranch:
Obama's Socialist Plot To Ruin America Sends Stocks Soaring
http://www.huffingtonpost.com/2013/11/11/obam...
Funny the trolls do not mention this.
Homer

Bethlehem, PA

#1022072 Nov 11, 2013
Looks like the Republican Party is populated with all the dummies.

Galt how do you stand these people?
LCNLin

United States

#1022073 Nov 11, 2013
John Galt wrote:
<quoted text>
agreed...but that doesn't mean spending the money on welfare programs instead...
...only on programs that favor nobama
Homer

Bethlehem, PA

#1022074 Nov 11, 2013
Bottom line: Republicans have NO solutions.
LCNLin

United States

#1022075 Nov 11, 2013
lily boca raton fl wrote:
<quoted text>
Spoken like a true caveman "you wanted eat", grunt. gfy, you Texans are a bunch of dummies.
libertarians have government jobs...then post
Realtime

Cape Canaveral, FL

#1022076 Nov 11, 2013
dont snow me wrote:
<quoted text>
Sorry, Squeeler, but here's more:
San José 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"
Thayer Watkins is another fkstick for hire__shame on your dumbazz.

What else ya got moron???

“no one told me”

Since: Dec 07

Denver

#1022077 Nov 11, 2013
Realtime wrote:
<quoted text>Debunked__Thos DeLorenzo is a for hire scumbag__everyone posting here knows that and chuckles when fksticks like you cite that mutt.
What else you got???
The salient point, for the thickheaded:

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.

Deny it, Squeeler.

“no one told me”

Since: Dec 07

Denver

#1022078 Nov 11, 2013
John Galt wrote:
<quoted text>
agreed...but that doesn't mean spending the money on welfare programs instead...
Of course not,$500 billion a year in welfare is too much as it is.

“no one told me”

Since: Dec 07

Denver

#1022079 Nov 11, 2013
lily boca raton fl wrote:
<quoted text>
So, what business are you in?
Why? You gonna give me some business advice?

“no one told me”

Since: Dec 07

Denver

#1022080 Nov 11, 2013
Homer wrote:
Bottom line: Republicans have NO solutions.
Actually they do Tubby, but it's lost on moochers, squeelers with their snouts in the trough, the indolent, the lazy, and the dependent.
Homer

Bethlehem, PA

#1022081 Nov 11, 2013
dont snow me wrote:
<quoted text>
The salient point, for the thickheaded:
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.
Deny it, Squeeler.
That's like blaming the rape victim. You idiots make no sense.
lily boca raton fl

Boca Raton, FL

#1022082 Nov 11, 2013
Homer wrote:
Bottom line: Republicans have NO solutions.
A homeless man who turned over $850 he found on a New Jersey street is a bit poorer for his honesty now, after the Hackensack Human Services Department cut his newly-granted Medicaid and housing benefits for failing to report new income.

James Brady, 59, a former news photographer, found an envelope with $850 in it in April, and turned it in to the Hackensack police, The Bergen Record reported. Brady became a minor celebrity after word spread of his good deed, with honors from the city council and media coverage shedding light on his plight.

After his story drew attention, Brady had begun to receive psychiatric help and medication for emotional trauma — a canceled business meeting at the World Trade Center on 9/11 left him reeling for years, The Record reported. He received housing and subsistence vouchers from the city, and is beginning to turn his life around.

He also got the $850. No one claimed the money after six months of waiting.

But when he received the money, he didn’t realize that he needed to report the income to human services. And the department subsequently cut him off through Dec. 31 from benefits, including the valuable housing voucher, because he failed to report new income he received, USA Today reported

Still, help appears to be flowing toward him. Bergen County’s United Way set up an account for people to make donations of support for Brady through its Compassion Fund.

http://www.rawstory.com/rs/2013/11/10/homeles...

Tell Lois they don't take buttons and wooden nickels.
Homer

Bethlehem, PA

#1022083 Nov 11, 2013
dont snow me wrote:
<quoted text>
The salient point, for the thickheaded:
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.
Deny it, Squeeler.
'the lenders did not have to worry about of the soundness of the mortgage'

Do you actually comprehend what you are typing moron? Just how stupid are you?

Just when you think you've read all the idiotic posts by the rightwing puppet brigade, this idiot shows up.

Brutal.

“Constitutionalis t”

Since: Dec 10

Spring, TX

#1022085 Nov 11, 2013
Homer wrote:
<quoted text>He fell down a lot. That is how Homer remembers him.
Homer knew that before Homer selected him.

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