What the 2012 election taught us

Nov 6, 2012 | Posted by: roboblogger | Full story: The Washington Post

We've been scouring the data for clues as to what we should learn from what happened tonight as President Obama relatively easily claimed a second term.

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ElfOFF

Utica, NY

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#2670
Nov 20, 2012
 
Women are the reason for almost all of our economical issues. We need to recreate a patriarch society to regain political dominance in this Country. Otherwise, we will continue to falter as a civilization, and we'll never live up to our truest potential. Men need to loose their crutch (WOMEN) that are slowing them down and regain conrol over our society once again. Then, and only then will we start to see improvements in our economy. Men go to Congress and women stay in the kitchen.

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#2671
Nov 20, 2012
 

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sage won wrote:
<quoted text>
Another economic illiterate.
Here's the cause of our 2008 recession, F ing asswipe Obama owns it:
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.
Another economic illiterate

Gramm–Leach–Bliley Act

The Gramm–Leach–Bliley Act (GLB), also known as the Financial Services Modernization Act of 1999,(Pub.L. 106-102, 113 Stat. 1338, enacted November 12, 1999) is an act of the 106th United States Congress (1999–2001). It repealed part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies and insurance companies that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company. With the passage of the Gramm–Leach–Bliley Act, commercial banks, investment banks, securities firms, and insurance companies were allowed to consolidate. The legislation was signed into law by President Bill Clinton.

A year before the law was passed, Citicorp, a commercial bank holding company, merged with the insurance company Travelers Group in 1998 to form the conglomerate Citigroup, a corporation combining banking, securities and insurance services under a house of brands that included Citibank, Smith Barney, Primerica, and Travelers. Because this merger was a violation of the Glass–Steagall Act and the Bank Holding Company Act of 1956, the Federal Reserve gave Citigroup a temporary waiver in September 1998. Less than a year later, GLB was passed to legalize these types of mergers on a permanent basis. The law also repealed Glass–Steagall's conflict of interest prohibitions "against simultaneous service by any officer, director, or employee of a securities firm as an officer, director, or employee of any member bank."

http://en.wikipedia.org/wiki/Gramm%E2%80%93Le...

Since: Oct 08

Decatur, GA

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#2672
Nov 20, 2012
 
ElfOFF wrote:
Women are the reason for almost all of our economical issues. We need to recreate a patriarch society to regain political dominance in this Country. Otherwise, we will continue to falter as a civilization, and we'll never live up to our truest potential. Men need to loose their crutch (WOMEN) that are slowing them down and regain conrol over our society once again. Then, and only then will we start to see improvements in our economy. Men go to Congress and women stay in the kitchen.
aye...women are child nurturers and nest builders, men are risk takers and hunter/gatherers...women should cook, clean, and take bubble baths for their man, when he gets home from a rough day.

Since: Oct 12

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#2673
Nov 20, 2012
 
ElfOFF wrote:
Women are the reason for almost all of our economical issues. We need to recreate a patriarch society to regain political dominance in this Country. Otherwise, we will continue to falter as a civilization, and we'll never live up to our truest potential. Men need to loose their crutch (WOMEN) that are slowing them down and regain conrol over our society once again. Then, and only then will we start to see improvements in our economy. Men go to Congress and women stay in the kitchen.
MITT,WE ARE ALL SORRY FOR YOUR LOSING, BUT PLEASE, STAY OFF TOPIX.....Now, get some rest....

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#2674
Nov 20, 2012
 

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sage won wrote:
<quoted text>
Wrong as all liberals are:
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.
Community Reinvestment Act

Legislative revision history

Original act 1977
Legislative changes 1989
Legislative changes 1991
Legislative changes 1992
Legislative changes 1994
Regulatory changes 1995
Legislative changes 1999
Regulatory changes 2005
Regulatory changes 2007
Legislative changes 2008

http://en.wikipedia.org/wiki/Community_Reinve...

Home Ownership and President Bush

http://www.youtube.com/watch...

George Bush: we want everybody in America to own their own home. That's what we want.

http://www.youtube.com/watch...

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#2675
Nov 20, 2012
 

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American Dream Downpayment Assistance Act

On December 16, 2003, President George W. Bush signed into law the American Dream Downpayment Initiative, which was aimed at helping approximately "40,000 families a year" with their down payment and closing costs, and further strengthen America’s housing market.

This legislation complemented the President's "aggressive housing agenda" announced in a speech he gave at the Department of Housing and Urban Development on June 18, 2002. In this speech the President outlined the partnerships needed to make homeownership a reality for millions more Americans by the end of the decade.

http://en.wikipedia.org/wiki/American_Dream_D...
Hates Ignorance

Butler, PA

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#2676
Nov 20, 2012
 

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The majority of failed loans were made by insitutions that did NOT fall under CRA requirements. In fact CRA loans had the lowest default rate in the mortage industry.

True Clinton signed GLB, a big mistake inj my view. But a quick look at it's author, primary sponsors, and the rollcall vote will tell you which party was behind it. It will also show that a veto by Clinton would have been overridden anyway. Perhaps he used his signature on GLB, as bargaining chip on another issue. Or it could just be a serious lapse, in what has proven to be otherwise sound fiscal & economic policy on his part.
Hates Ignorance

Butler, PA

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#2677
Nov 20, 2012
 
Indy,

Increasing home ownership IS sound economic policy, and promotes prosperity. It's when you try to increase it at a rate greater than economic growth can match that you run into problems. Both parties are guilty of going about it to agressively, and financial institutions all to eager to take advantage of it. Especially when they know they will protected ( bailed out ) from losses, in return for their complicity.

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#2678
Nov 20, 2012
 

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Hates Ignorance wrote:
The majority of failed loans were made by insitutions that did NOT fall under CRA requirements. In fact CRA loans had the lowest default rate in the mortage industry.
True Clinton signed GLB, a big mistake inj my view. But a quick look at it's author, primary sponsors, and the rollcall vote will tell you which party was behind it. It will also show that a veto by Clinton would have been overridden anyway. Perhaps he used his signature on GLB, as bargaining chip on another issue. Or it could just be a serious lapse, in what has proven to be otherwise sound fiscal & economic policy on his part.
I agree, Clinton should have vetod the Gramm-Leach-Bliley Act

U.S. Senate Roll Call Votes 106th Congress

http://www.senate.gov/legislative/LIS/roll_ca...

106th United States Congress

Duration: January 3, 1999 – January 3, 2001

Senate Majority: Republican Party

House Majority: Republican Party

http://en.wikipedia.org/wiki/106th_United_Sta...

Since: Aug 11

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#2679
Nov 20, 2012
 

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Hates Ignorance wrote:
Indy,
Increasing home ownership IS sound economic policy, and promotes prosperity. It's when you try to increase it at a rate greater than economic growth can match that you run into problems. Both parties are guilty of going about it to agressively, and financial institutions all to eager to take advantage of it. Especially when they know they will protected ( bailed out ) from losses, in return for their complicity.
I agree that TARP was a scam to pickup the stuff that wasnt covered by the Federal Government Insurance programs Like FDIC & others. I cant say increasing home ownership IS sound economic policy, and promotes prosperity maybe for homebuilders but when people cant aford them and the one's that can end up loosing as we have seen since 2008 when the housing market collapsed which now the ones that still own their houses, a vast majority of people owe more than what their houses are worth now.

Since: Feb 11

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#2680
Nov 20, 2012
 

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sage won wrote:
I get so tired of educating those who refuse to acknowledge the truth.
Funny how so many cannot see you "truth" and instead see you as the vile, ignorant, crybaby you are.

Did you see who won the election, child?
Yeah

Mililani, HI

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#2681
Nov 20, 2012
 

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martinezjosei wrote:
<quoted text>
Liberals can not attack facts so they attack the person.
Liberals S.I.N.:
S.hift subject
I.gnore facts
N.ame calling
lol! It's interesting how you perform exactly what you claim those you disagree with perform!

The similarities are astounding son!
Yeah

Mililani, HI

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#2682
Nov 20, 2012
 

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martinezjosei wrote:
<quoted text>
Fact:
47% pays no taxes but want free stuff from Obamaclaus!
BTW: Obama being president last four years, not Bush, no matter how you want us to make believe that Bush was it he was not president last four years, that is a fact. And unemployment is 8% without Bush last four year!
Facts are not in your side!!!
lol! It's amazing how your fact has no basis in it, son!
Eric Gustafson

Newport News, VA

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#2683
Nov 20, 2012
 

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sage won wrote:
<quoted text>
Spending originates in the House of representatives[or it did before Obama].
How many democrats voted to pass budgets during the Bush years? Answer: many, many
How many republicans voted for any budgets under Obama? Answer 0
deny it
Call the deficits what they really are.
And Bush hasn't been the president for 4 fu*king years.
You missed a lot with American politics, George Bush only had 12 vetoes in 8 years, 11 of them in his last 2 years all democrat proposals. True the Democrats were the majority for 2 years, but Bush vetoed every piece of legislation involving spending they sent to him to approve.

There are a lot of holes in your political knowledge base, why?

Also, there's not been an approved Federal Budget since 1996, it's not like George Bush signed any Budgets into law, he just spent by submitting spending proposals to congress which they rubber stamped,

How is it that you people talk a great deal about budgets and spending and are absent the fact there hasn't been a federal budget since 96, just spending request?
Yeah

Mililani, HI

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#2684
Nov 20, 2012
 

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martinezjosei wrote:
<quoted text>
Can we opt out of your Social Security theft?
We know how to make money in real investments instead of social programs!
Ask Romney!
I think it's better to ask the people he fired son. After all, that's what he likes to do!
Eric Gustafson

Newport News, VA

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#2685
Nov 20, 2012
 

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sage won wrote:
<quoted text>
apparently millions and millions disagree with your assessment of his pizzas, dummy.
When are you opening your pizza store with well paid employees? With full health care and paid vacation?
So you believe that Papa Johns pays premium wages and provides comprehensive health care to his employees?

ROFLMAO........ don't be so gullible.

Fact of the matter is under the mandate it's a net savings to pay the find on low income high turn over employees instead of carrying health care insurance in each individual.

That's a no brain decision and a net profit to the organization.

The Arithmetic isn't complicated
Yeah

Mililani, HI

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#2686
Nov 20, 2012
 

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Anonymous of Indy wrote:
<quoted text>I agree, Clinton should have vetod the Gramm-Leach-Bliley Act
U.S. Senate Roll Call Votes 106th Congress
http://www.senate.gov/legislative/LIS/roll_ca...
106th United States Congress
Duration: January 3, 1999 – January 3, 2001
Senate Majority: Republican Party
House Majority: Republican Party
http://en.wikipedia.org/wiki/106th_United_Sta...
I second it!
Eric Gustafson

Newport News, VA

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#2687
Nov 20, 2012
 

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urrrrr, Declining Economic Growth, declining which caused the shrinking of the American labor rate to the tune of 8 million jobs being outsourced, ending with a Negative -9% GDP in 4Q 2008 and the fundamental crashing of the American Economy and Financial System, leading to the historic TARP Legislation.
sage won wrote:
<quoted text>
you're an idiot:
I get so tired of educating those who refuse to acknowledge the truth. For the last time, the Bush Tax cuts resulted in 54 straight months of economic growth. The recession occurred after Democrats gained control of Congress and began wildly borrowing and spending trillions of dollars and implementing their bone-headed and supremely irresponsible fiscal policy.
The economic numbers don't lie. Take a look for yourself:
http://forecast-chart.com/chart-gdp-rate.html
The economy grew every single quarter until Q4 of 2008. That's solid continual economic growth that directly resulted from the Bush Tax Cuts.

“life under BO”

Since: Sep 12

buena vista

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#2688
Nov 20, 2012
 

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Anonymous of Indy wrote:
<quoted text>Another economic illiterate
Gramm–Leach–Bliley Act
The Gramm–Leach–Bliley Act (GLB), also known as the Financial Services Modernization Act of 1999,(Pub.L. 106-102, 113 Stat. 1338, enacted November 12, 1999) is an act of the 106th United States Congress (1999–2001). It repealed part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies and insurance companies that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company. With the passage of the Gramm–Leach–Bliley Act, commercial banks, investment banks, securities firms, and insurance companies were allowed to consolidate. The legislation was signed into law by President Bill Clinton.
A year before the law was passed, Citicorp, a commercial bank holding company, merged with the insurance company Travelers Group in 1998 to form the conglomerate Citigroup, a corporation combining banking, securities and insurance services under a house of brands that included Citibank, Smith Barney, Primerica, and Travelers. Because this merger was a violation of the Glass–Steagall Act and the Bank Holding Company Act of 1956, the Federal Reserve gave Citigroup a temporary waiver in September 1998. Less than a year later, GLB was passed to legalize these types of mergers on a permanent basis. The law also repealed Glass–Steagall's conflict of interest prohibitions "against simultaneous service by any officer, director, or employee of a securities firm as an officer, director, or employee of any member bank."
http://en.wikipedia.org/wiki/Gramm%E2%80%93Le...
Irrelevant, el stupido. No sub prime mortgages no mortgage meltdown, deny it and look like a bigger fool.

Democrat coercion of the banks to give loans to unqualified minorities drove housing prices up unrealistically causing a bubble which of course had to crash.

Clinton, dumbass:

"
But others would note the irony of Clinton citing the perils of deregulation under Bush because he also is culpable. Clinton signed into law a repeal of the Glass-Steagall law that separated commercial and investment banks — a policy shift that some have said also played a role in the economic crisis. Moreover, Clinton also signed into law the Commodity Futures Modernization Act, which essentially removed derivatives contracts from regulatory oversight. By many accounts, derivatives, such as the credit default swap, were at the heart of the financial crisis.

Indeed, Clinton has admitted that he was given wrong advice about the need to regulate derivatives contracts.“I think they were wrong, and I think I was wrong to take” their advice, Clinton said of his economic advisers."

You don't know wtf ur talking about.
Yeah

Mililani, HI

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#2689
Nov 20, 2012
 

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sage won wrote:
<quoted text>
Irrelevant, el stupido. No sub prime mortgages no mortgage meltdown, deny it and look like a bigger fool.
Democrat coercion of the banks to give loans to unqualified minorities drove housing prices up unrealistically causing a bubble which of course had to crash.
Clinton, dumbass:
"
But others would note the irony of Clinton citing the perils of deregulation under Bush because he also is culpable. Clinton signed into law a repeal of the Glass-Steagall law that separated commercial and investment banks — a policy shift that some have said also played a role in the economic crisis. Moreover, Clinton also signed into law the Commodity Futures Modernization Act, which essentially removed derivatives contracts from regulatory oversight. By many accounts, derivatives, such as the credit default swap, were at the heart of the financial crisis.
Indeed, Clinton has admitted that he was given wrong advice about the need to regulate derivatives contracts.“I think they were wrong, and I think I was wrong to take” their advice, Clinton said of his economic advisers."
You don't know wtf ur talking about.
And the subprime issue was a capitalistic one son!

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