Economic Crisis Overlays all Threats ...

Economic Crisis Overlays all Threats Facing U.S., Intel Chief Says

There are 23 comments on the www.defenselink.mil story from Feb 16, 2009, titled Economic Crisis Overlays all Threats Facing U.S., Intel Chief Says. In it, www.defenselink.mil reports that:

The global economic crisis colors all other threats confronting the United States, the new director of national intelligence told the U.S. Senate Select Committee on Intelligence on Feb. 12.

Dennis C. Blair said the crisis raises the level of uncertainty in the world and places new areas of the globe in danger. Analysts are trying to understand the geopolitical implications of the crisis.

“The crisis has been ongoing for about a year, and economists are divided over whether and when we could hit bottom,” Blair said in prepared testimony. “Time is probably our greatest threat. The longer it takes for recovery to begin, the greater the likelihood of serious damage to U.S. strategic interests.”

Al-Qaida cells may grow in the United States, Blair said. “We remain concerned about the potential for homegrown extremists inspired by the al-Qaida militant ideology to plan attacks in the United States, Europe and elsewhere without operational direction from the group itself,” he said. U.S. agencies will focus on identifying ties between U.S.-based individuals and extremist networks overseas

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Glasnos

Apopka, FL

#21 Feb 16, 2009
Plain Jane wrote:
<quoted text>
Most of those loans were not FM's but private mortgage companies offering loans to anyone who would take one for high interest because they didn't have to worry about getting it back. They bundled those risky loans and resold them with ratings undeserved by the content of the bundle. They did cold calls offering equity lines of credit and 2nd mortgages. As the foreclosures started in this subprime group it snowballed, of course, and the artificially created housing bubble popped and even people who had standard loans owed more on their homes than they were worth which eventually impacted every region of the country, mortgage lenders and investors, and the FM's too, of course. The power of the banks is really what caused this. They were able to get Gramm-Leach-Bliley passed and then it was inevitable. That they got the lowest tax rates in recent history for this stolen money is just the icing on the cake.
Reading comprehension problems?

You people twist yourselves into pretzels in order to blame your favorite scap goat.

It is really simple... The government and community activist groups (ACORN) pressured banks to make loans to minorities ... and not just offer loans, they had to be on the books of the banks. In order to do that standards were lowered,... and part of that was subprime loans because they offered the lowest rates ...(subprime ... understand the meaning of subprime?)
All was hunkydory as long as housing prices climbed, and the borrowers quickly built equity (understand the meaning of equity?)
The problem came when interest rates rose slightly, and the housing boom topped out ... And now you have people who own houses with little or no down payment invested (many were speculators) who have houses with negative equity (worth less than what they bought it for)... and that made it easy to just walk away.

ALL CAUSED BY THE DESIRE TO MAKE HOME LOANS AVAILABLE TO POOR NEIGHBORHOOODS AND MINORITIES!
"AFFORDABLE HOUSING"

It is really not so hard to understand ... if your first premise is not "it's Bush's fault"
Plain Jane

Hayward, CA

#22 Feb 16, 2009
Glasnos wrote:
<quoted text>
Reading comprehension problems?
You people twist yourselves into pretzels in order to blame your favorite scap goat.
It is really simple... The government and community activist groups (ACORN) pressured banks to make loans to minorities ... and not just offer loans, they had to be on the books of the banks. In order to do that standards were lowered,... and part of that was subprime loans because they offered the lowest rates ...(subprime ... understand the meaning of subprime?)
All was hunkydory as long as housing prices climbed, and the borrowers quickly built equity (understand the meaning of equity?)
The problem came when interest rates rose slightly, and the housing boom topped out ... And now you have people who own houses with little or no down payment invested (many were speculators) who have houses with negative equity (worth less than what they bought it for)... and that made it easy to just walk away.
ALL CAUSED BY THE DESIRE TO MAKE HOME LOANS AVAILABLE TO POOR NEIGHBORHOOODS AND MINORITIES!
"AFFORDABLE HOUSING"
It is really not so hard to understand ... if your first premise is not "it's Bush's fault"
LMAO!

Subprime lending (near-prime, non-prime, or second chance lending) is a financial term that was popularized by the media during the "credit crunch" of 2007 and involves financial institutions providing credit to borrowers who do not meet prime underwriting guidelines. Subprime borrowers have a heightened perceived risk of default, such as those who have a history of loan delinquency or default, those with a recorded bankruptcy, or those with limited debt experience.

Although there is no standardized definition, in the US subprime loans are usually classified as those where the borrower has a FICO score below 680. Subprime lending encompasses a variety of credit types, including mortgages, auto loans, and credit cards.

Subprime could also refer to a security for which a return above the "prime" rate is adhered, also known as C-paper. The term subprime often correlates with non-conforming loans, or those that do not meet Fannie Mae or Freddie Mac guidelines. Those guidelines may be the size of the loan, a high debt-to-income ratio or lack of income documentation provided.

You got it backwards, Einstein. Subprime loans have a higher interest rate. Not surprised, you get just about everything else wrong too.
LocalBoy

Indianapolis, IN

#23 Feb 17, 2009
Glasnos wrote:
<quoted text>
Reading comprehension problems?
You people twist yourselves into pretzels in order to blame your favorite scap goat.
It is really simple... The government and community activist groups (ACORN) pressured banks to make loans to minorities ... and not just offer loans, they had to be on the books of the banks. In order to do that standards were lowered,... and part of that was subprime loans because they offered the lowest rates ...(subprime ... understand the meaning of subprime?)
All was hunkydory as long as housing prices climbed, and the borrowers quickly built equity (understand the meaning of equity?)
The problem came when interest rates rose slightly, and the housing boom topped out ... And now you have people who own houses with little or no down payment invested (many were speculators) who have houses with negative equity (worth less than what they bought it for)... and that made it easy to just walk away.
ALL CAUSED BY THE DESIRE TO MAKE HOME LOANS AVAILABLE TO POOR NEIGHBORHOOODS AND MINORITIES!
"AFFORDABLE HOUSING"
It is really not so hard to understand ... if your first premise is not "it's Bush's fault"
Look dude, the reason the scheme was expanded, and yes it was the dems scheme, was to sell these securities to producing nations.

What Bush did was promote selling securities to finance his gross spending.

The private central bank helped by allow these toxic assets to be bundled into securities for the Treasury to back. The US dollars were then brought back to the federal reserve system to control inflation.
The President wanted war financing and did not have the courage to tax the citizens for it.
So he promoted this idea of liquidating the Dems welfare programs to get the deeds to real property in the federal reserve system.
China would not buy T-Bills at the low interest rates offered. Rates were lowered to stimulate a lagging economy.

The iinterest being paid by the homeowners was being paid to the Chinese to get our dollars back.

Welfare and warfare dude, thats what did it.

For ten years the people have this nation was living false prosperity, and living large on the schemes to create a welfare /warfare state.

Both parties did it.
Both will do it again, and again

All predictable effects of fiat money schemes and keynesian economics.

All this talk about how a government can print money to stimulate a lagging economy is true. We did that in 98, we did it in 2001, we did it in 2004, we did it in 2006 and now we are going the well for the biggest round yet.
It will fail becuase it has been worn out.

Do it once, it works
Do it twice it works, just not as well

Do it without stop for ten years, it fails

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