Election over, Obama to face same weak economy

Nov 6, 2012 Full story: Reuters 1,392

Americans have given President Barack Obama the benefit of doubt that he has the best fix for the ailing economy.

Full Story

“life under BO”

Since: Sep 12

buena vista

#641 Nov 14, 2012
Eric Gustafson wrote:
<quoted text>
If you can't find a passage in the CRA supporting your theory, does that speak to the fact you support racism and discrimination where it concerns lending and markets?
Why is a minority that works next you and earning the same wage no qualified for the same loans you may apply given everything except the color of your skins are equal?
Make some sense of that for us, please.
read the whole thing dummy, i gave you the link. actually all you need to know is on page one if your pinhead could comprehend it.

Excerpt" Clinton changed the rules at F and F to allow them to buy sub prime mortgages" And of course put tax payers on the hook and make Raines, Johnson, etc. very , very wealthy. deny it clownface.

“life under BO”

Since: Sep 12

buena vista

#642 Nov 14, 2012
SpongeBob wrote:
<quoted text>
United States prosecutors sued Wells Fargo on Tuesday, accusing it of lying about the quality of the mortgages it handled under a federal housing program.
It was the latest in a series of lawsuits related to banks’ lending practices during the housing boom.
In a lawsuit filed in Federal District Court in Manhattan, the prosecutors accused Wells Fargo, the country’s largest originator of home loans, of defrauding the government for more than a decade. The bank recklessly issued mortgages and then made false certifications about their condition to the Federal Housing Administration, a government agency that insured them, the complaint said.
The action against Wells Fargo came after many civil lawsuits were filed by the government against large banks related to their lending practices. A number of the banks have settled the cases, including Deutsche Bank, which paid more than $200 million to resolve civil fraud charges; Citigroup’s Citimortgage unit, which settled claims for $158 million; and Bank of America, in a settlement connected to its Countrywide Financial business, for $1 billion.
good, make some of Obama's campaign contributors pay for their actions.

The fact remains, no sub prime mortgages, no mortgage disaster.

“life under BO”

Since: Sep 12

buena vista

#643 Nov 14, 2012
SpongeBob wrote:
<quoted text>
The civil suit against Bear Stearns & Company, now a unit of JPMorgan Chase, was brought in New York State Supreme Court by Eric T. Schneiderman, the attorney general who is also a co-chairman of the task force, known as the Residential Mortgage-Backed Securities Working Group.
The complaint contends that Bear Stearns and its lending unit, EMC Mortgage, defrauded investors who purchased mortgage securities packaged by the companies from 2005 through 2007.
all made possible by forcing institutions to make unworthy loans that could be sold to F and F. with government backing.

“life under BO”

Since: Sep 12

buena vista

#644 Nov 14, 2012
SpongeBob wrote:
<quoted text>
NEW YORK -- The Justice Department is seeking $1 billion from Bank of America, alleging the bank committed fraud by selling defective mortgages from a program it says was known within the bank as "the Hustle."
Those mortgages were purchased by government-backed mortgage finance firms Fannie Mae and Freddie Mac, resulting in over $1 billion in losses for taxpayers and countless foreclosures, according to the complaint announced Wednesday by the U.S. Attorney for the Southern District of New York.
The suit alleges that "the Hustle" was a nickname for the bank's "High-Speed Swim Lane," or HSSL program, designed to streamline the mortgage origination process. But the government alleges it was "intentionally designed to process loans at high speed and without quality checkpoints, and generated thousands of fraudulent and otherwise defective residential mortgage loans."
The government says the program was started by mortgage lender Countrywide Financial, but continued after it was purchased by Bank of America in 2008. It ran through 2009, according to the suit.
"For the sixth time in less than 18 months, this office has been compelled to sue a major U.S. bank for reckless mortgage practices in the lead-up to the financial crisis," said U.S. Attorney Preet Bharara in a statement. "The fraudulent conduct alleged in today's complaint was spectacularly brazen in scope."
Skullduggery!: The True Causes of the Financial Crisis - Page 120 - Google Books Result
books.google.com/books...
Ted Krager - 2012 - Political Science
The True Causes of the Financial Crisis Ted Krager. As you are learning, it wasn't
Wall Street greed or the banks' greed that caused The Financial Crisis.(It was ...

BO and ACORN sue CITI Group to force banks to make bad loans, they win , opening the flood gates in app.1994:

Obama Sued Citibank Under CRA to Force - Media Circus
www.mediacircus.com/.../obama-sued-citibank-u... -...
Oct 3, 2008 – UPDATED: Obama Sued Citibank Under CRA to Force it to Make ... Looks like a typical ACORN lawsuit to get banks to hand out bad loans.

Banks are overloaded with bad loans they can't unload, Clinton comes to the rescue, rewriting Fannie and Freddie rules to allow them to buy the subprime loans

The Nature and the Origin of the Subprime Mortgage Crisis
www.sjsu.edu/faculty/watkins/subprime.htm
In the past Fannie Mae prohibited the lenders it was dealing with to engage in the ... of Franklin Raines, a Clinton Administration appointee, Fannie Mae began to ... Thus the lenders could write the mortgages as adjustable interest rate .... the Fannie Mae Corporation is easing the credit requirements on loans that it will ...

A 33% increase in the number of buyers now looking for homes drives housing prices thru the roof.

Exactly what you think is going to happen, happens and here we are.

“life under BO”

Since: Sep 12

buena vista

#645 Nov 14, 2012
Obama's fingerprints are all over the mortgage meltdown, he's now dealing with his own handywork, too f ing bad.
nobama

Los Angeles, CA

#646 Nov 14, 2012
Mykro wrote:
<quoted text>Young Americans took care of their future with their vote. They didn't vote for Mitt. Four more years of teabag tears.
No they didnt. You can pay more in taxes. WE dont mind.
Therealnews com

East Islip, NY

#647 Nov 15, 2012
sage won wrote:
Obama's fingerprints are all over the mortgage meltdown, he's now dealing with his own handywork, too f ing bad.
White House Philosophy Stoked Mortgage Bonfire
We can put light where there’s darkness, and hope where there’s despondency in this country. And part of it is working together as a nation to encourage folks to own their own home.”— President Bush, Oct. 15, 2002
December 20, 2008 / http://tinyurl.com/83qjpf
WASHINGTON — The global financial system was teetering on the edge of collapse when President Bush and his economics team huddled in the Roosevelt Room of the White House for a briefing that, in the words of one participant,“scared the hell out of everybody.”
It was Sept. 18. Lehman Brothers had just gone belly-up, overwhelmed by toxic mortgages. Bank of America had swallowed Merrill Lynch in a hastily arranged sale. Two days earlier, Mr. Bush had agreed to pump $85 billion into the failing insurance giant American International Group.
The president listened as Ben S. Bernanke, chairman of the Federal Reserve, laid out the latest terrifying news: The credit markets, gripped by panic, had frozen overnight, and banks were refusing to lend money.
http://www.nytimes.com/2008/12/21/business/21...

=======

President Calls for Expanding Opportunities to Home Ownership
Remarks by the President on Homeownership / http://tinyurl.com/lc939n
St. Paul AME Church / Atlanta, Georgia / June 17 2002
http://georgewbush-whitehouse.archives.gov/ne...
1 post removed

“Obama Shames the USA”

Since: Apr 09

Location hidden

#649 Nov 15, 2012
Is Obama facing criminal charges with the outcome of Benghazi or just impeachment and removal? No jail time?
conservative crapola

Allentown, PA

#650 Nov 15, 2012
Ninthman wrote:
Harry Reid: No.

hahahahahahahaha
Wall Street Government

Sebastian, FL

#651 Nov 15, 2012
sage won wrote:
<quoted text>
all made possible by forcing institutions to make unworthy loans that could be sold to F and F. with government backing.
If that's the case, why aren't institutions being "forced" to make loans now.
Wall Street Government

Sebastian, FL

#652 Nov 15, 2012
sage won wrote:
<quoted text>
Skullduggery!: The True Causes of the Financial Crisis - Page 120 - Google Books Result
books.google.com/books...
Ted Krager - 2012 - Political Science
The True Causes of the Financial Crisis Ted Krager. As you are learning, it wasn't
Wall Street greed or the banks' greed that caused The Financial Crisis.(It was ...
BO and ACORN sue CITI Group to force banks to make bad loans, they win , opening the flood gates in app.1994:
Obama Sued Citibank Under CRA to Force - Media Circus
www.mediacircus.com/.../obama-sued-citibank-u... -...
Oct 3, 2008 – UPDATED: Obama Sued Citibank Under CRA to Force it to Make ... Looks like a typical ACORN lawsuit to get banks to hand out bad loans.
Banks are overloaded with bad loans they can't unload, Clinton comes to the rescue, rewriting Fannie and Freddie rules to allow them to buy the subprime loans
The Nature and the Origin of the Subprime Mortgage Crisis
www.sjsu.edu/faculty/watkins/subprime.htm
In the past Fannie Mae prohibited the lenders it was dealing with to engage in the ... of Franklin Raines, a Clinton Administration appointee, Fannie Mae began to ... Thus the lenders could write the mortgages as adjustable interest rate .... the Fannie Mae Corporation is easing the credit requirements on loans that it will ...
A 33% increase in the number of buyers now looking for homes drives housing prices thru the roof.
Exactly what you think is going to happen, happens and here we are.
Commentators say that's what triggered the stock market meltdown and the freeze on credit. They've specifically targeted the mortgage finance giants Fannie Mae and Freddie Mac, which the federal government seized on Sept. 6, contending that lending to poor and minority Americans caused Fannie's and Freddie's financial problems.
Federal housing data reveal that the charges aren't true, and that the private sector, not the government or government-backed companies, was behind the soaring subprime lending at the core of the crisis.
Subprime lending offered high-cost loans to the weakest borrowers during the housing boom that lasted from 2001 to 2007. Subprime lending was at its height from 2004 to 2006.
Federal Reserve Board data show that:
More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.
Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.
Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics.

Start with the most basic fact of all: virtually none of the $1.5 trillion of cratering subprime mortgages were backed by Fannie or Freddie. That’s right — most subprime mortgages did not meet Fannie or Freddie’s strict lending standards. All those no money down, no interest for a year, low teaser rate loans? All the loans made without checking a borrower’s income or employment history? All made in the private sector, without any support from Fannie and Freddie.

Look at the numbers. While the credit bubble was peaking from 2003 to 2006, the amount of loans originated by Fannie and Freddie dropped from $2.7 trillion to $1 trillion. Meanwhile, in the private sector, the amount of subprime loans originated jumped to $600 billion from $335 billion and Alt-A loans hit $400 billion from $85 billion in 2003. Fannie and Freddie, which wouldn’t accept crazy floating rate loans, which required income verification and minimum down payments, were left out of the insanity.
Wall Street Government

Sebastian, FL

#653 Nov 15, 2012
sage won wrote:
<quoted text>
Skullduggery!: The True Causes of the Financial Crisis - Page 120 - Google Books Result
books.google.com/books...
Ted Krager - 2012 - Political Science
The True Causes of the Financial Crisis Ted Krager. As you are learning, it wasn't
Wall Street greed or the banks' greed that caused The Financial Crisis.(It was ...
BO and ACORN sue CITI Group to force banks to make bad loans, they win , opening the flood gates in app.1994:
Obama Sued Citibank Under CRA to Force - Media Circus
www.mediacircus.com/.../obama-sued-citibank-u... -...
Oct 3, 2008 – UPDATED: Obama Sued Citibank Under CRA to Force it to Make ... Looks like a typical ACORN lawsuit to get banks to hand out bad loans.
Banks are overloaded with bad loans they can't unload, Clinton comes to the rescue, rewriting Fannie and Freddie rules to allow them to buy the subprime loans
The Nature and the Origin of the Subprime Mortgage Crisis
www.sjsu.edu/faculty/watkins/subprime.htm
In the past Fannie Mae prohibited the lenders it was dealing with to engage in the ... of Franklin Raines, a Clinton Administration appointee, Fannie Mae began to ... Thus the lenders could write the mortgages as adjustable interest rate .... the Fannie Mae Corporation is easing the credit requirements on loans that it will ...
A 33% increase in the number of buyers now looking for homes drives housing prices thru the roof.
Exactly what you think is going to happen, happens and here we are.
BO and ACORN sue CITI Group to force banks to make bad loans, they win , opening the flood gates in app.1994:
Obama Sued Citibank Under CRA to Force - Media Circus

Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the U.S. Constitution; and 42 U.S.C. 1981, 1982. Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with SIMILAR financial characteristics and credit histories. Plaintiffs sought injunctive relief, actual damages, and punitive damages.

U.S. District Court Judge Ruben Castillo certified the Plaintiffs’ suit as a class action on June 30, 1995. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 322 (N.D. Ill. 1995). Also on June 30, Judge Castillo granted Plaintiffs’ motion to compel discovery of a sample of Defendant-bank’s loan application files. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 338 (N.D. Ill. 1995).

The parties voluntarily dismissed the case on May 12, 1998, pursuant to a settlement agreement.

Key word: SIMILAR.

Since: Feb 08

Hypoluxo Fl

#654 Nov 15, 2012
Ninthman wrote:
Is Obama facing criminal charges with the outcome of Benghazi or just impeachment and removal? No jail time?
If they gave jail time for stupidity, you'd be serving a life sentence.

“Sharia, NOT!”

Since: Jul 10

Chesapeake, VA

#655 Nov 15, 2012
Eric Gustafson wrote:
Is that what puts you to sleep at night, Fairy Tales of what you wish had happened?
Obama won by 4%, true Obama captured 4.3 Million votes less than he did in 2008, the most participated election in America's history, however, Romney attracted less votes than McCain/Palin. McCain/Palin attracted 58 Million votes in 2008, Romney 57.6 Million, some 400,000 less, which indicates a total turn out of Republicans in support of defeating Obama.
by the percentages of all the votes cast, Obama won 52%, one of only 4 repeating Presidents to win both contest with more than 50% of the Electorate, and Romney attracted 48%.....
Romney did better than McCain with Electoral Votes, but still came up short by more than 100 Electoral Votes in the Electoral College, indicating a Landslide Election in 2012.
Be careful not to cry in your milk......
<quoted text>
"O'Bama won because of his Muslim roots and bigotry whereas Romney lost because he is a Mormon and Evangelicals couldn't stomach that. They chose a evil beliefs over Mormonism by not choosing.
Analysis complete.
Eric Gustafson

Newport News, VA

#656 Nov 15, 2012
Socialism is for Sissies wrote:
<quoted text>"O'Bama won because of his Muslim roots and bigotry whereas Romney lost because he is a Mormon and Evangelicals couldn't stomach that. They chose a evil beliefs over Mormonism by not choosing.
Analysis complete.
Romney seemed to get only 400,000 votes less than John McCain in 2008, so I would say that Evangelical came out in support of Romney as they came out for McCain and Palin in 2008.

Everybody except Romney and Ryan's neighbors in their home towns voted for them. If you can't win your friends and neighbors, what good are you? Obama didn't have any problems winning his home Town, State or Region.

That's an indication the Republican brand and message has been thoroughly rejected and again defeated by America.

Missing the 2008 voter turn out by 400,000 suggest Romney and Ryan had a major republican turn out, and that wasn't enough to defeat Obama.
Eric Gustafson

Newport News, VA

#657 Nov 15, 2012
Socialism is for Sissies wrote:
<quoted text>"O'Bama won because of his Muslim roots and bigotry whereas Romney lost because he is a Mormon and Evangelicals couldn't stomach that. They chose a evil beliefs over Mormonism by not choosing.
Analysis complete.
Given Romney is subject to etch a sketch, next campaign Romney is subject to change is name to Muhammad Mitt, and Campaign as a Muslim to pander for Votes. He's changed his position on so many other things lately soliciting support.
McGruff

Elizabethtown, KY

#658 Nov 15, 2012
Mykro wrote:
<quoted text>BLOGS are only facts in a warped teabag mind. Blogs are the bloggers opinons. Those aren't facts, moron.
what is being reported is facts. Now there are only a thousand or so hits when you google layoffs since election. The fact that you don't like the truth being shown is your problem. Even the cbo said over 700,000 jobs would be lost because of obammycare. So you live in denial but you can't prove what I said false. Because it is true

Since: Feb 08

Hypoluxo Fl

#659 Nov 15, 2012
McGruff wrote:
<quoted text>
what is being reported is facts. Now there are only a thousand or so hits when you google layoffs since election. The fact that you don't like the truth being shown is your problem. Even the cbo said over 700,000 jobs would be lost because of obammycare. So you live in denial but you can't prove what I said false. Because it is true
BLOG...definition

"A Web site on which an individual or group of users record opinions"

The key word is opinions. Any one can have a blog and say anything they want. It doesn't make any of it true.
Eric Gustafson

Newport News, VA

#660 Nov 15, 2012
McGruff wrote:
<quoted text>
what is being reported is facts. Now there are only a thousand or so hits when you google layoffs since election. The fact that you don't like the truth being shown is your problem. Even the cbo said over 700,000 jobs would be lost because of obammycare. So you live in denial but you can't prove what I said false. Because it is true
Hell we had that many teacher job cuts do to the Republican Spending Cuts the last two years. I didn't see much complaining then, why now? We need that many cuts from Defense Contractors, that's a bloated agency and spending to much money on things we don't need or use. They could stand the pending cuts slated to come down if there is no agreement before Dec 31, I don't understand the fuss.
McGruff

Elizabethtown, KY

#661 Nov 15, 2012
Mykro wrote:
<quoted text>BLOG...definition

"A Web site on which an individual or group of users record opinions"

The key word is opinions. Any one can have a blog and say anything they want. It doesn't make any of it true.
so if a blog says the sun is hot then you would say it isn't? We're those people laid off? Yes or no? You are a fool and I just kicked your little can for you. Here some more reading nitwit

http://www.washingtonpost.com/business/econom...

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