Pork: ObaMa0 helped make the subprime sausage:
obamao.sux....@gmail.com
US bankers who continued to claim billions of dollars in bonuses while
expecting Washington to bail them out after the sub-prime mortgage
scandal brought the banks to their knees. But conveniently overlooked
has been the curious part Mr Obama himself played in the sub-prime
debacle.
At the heart of it was a 1995 amendment to the Community Reinvestment
Act which legally required banks to lend money to buy homes to
millions of poor, mainly black Americans, guaranteed by the two
biggest mortgage associations, Fannie Mae and Freddie Mac. And no one
campaigned more actively for this change to the law than Mr Obama, as
a young but already influential Chicago politician.
It was this Act which, more than anything, helped to create the US
housing bubble, well beyond the point where it was obvious that
hundreds of thousands of homeowners would be likely to default. And in
2005 no one more actively opposed moves to halt Fannie Mae’s reckless
guarantees than Senator Obama, as he was by then. As the official
records show, no senator received more donations from Fannie Mae than
he did (although Hillary Clinton ran him close). Thus no US politician
arguably did more to promote the sub-prime disaster than the man now
expected to pick up the pieces, …
RHF
The US Housing Bubble Disaster and the Sub-Prime
Credit Debacle will be a Major {Negative} Part of the
US Economy for the next 3~5 Years.
First we have the $700B Wall Street Credit Bail-Out
resulting from the US Housing Bubble Disaster and
the Sub-Prime Credit Debacle.
Second we have the $900B Obama Porkulus Spending Bill
BUT - Third we will have another $1T in needed Funds
for more US Housing Bubble Disaster and the Sub-Prime
Credit Debacle Financial Bail-Out Spending.
The US Federal Government itself does not have the
Money for all three in this time frame of 4~6 Years.
It is being 'financed' by Foreign Borrowing from China,
Japan, etc.
When the Time to Take-Action on # 3 comes due the
Foreign Creditors may not be-there since all their
Funds where used-up and committed by # 2.
Plus How Do You Pay for # 2 when you still are
Fighting a War in Afghanistan that may be
expanding according to President Obama ?
.
dave
> It is all very well for President Obama to vent his anger on all those
> US bankers who continued to claim billions of dollars in bonuses while
> expecting Washington to bail them out after the sub-prime mortgage
> scandal brought the banks to their knees. But conveniently overlooked
> has been the curious part Mr Obama himself played in the sub-prime
> debacle.
>
Derivatives. Look it up.
dxAce
dave wrote:
Yes, it is indeed the undelying cause.
dxAce
Michigan
USA
neoconis_ignoramus
Um, dumbfuck, over half of the subprime mortgages lent were made by
insitutions NOT covered by the CRA. Plus, if the legislation occurred
in 1995, why wasn't this a problem much sooner, dumbfuck? ARM resets
wouldve been problematic way back then, too, dumbfuck.
Oh, and by the way, there was NO legal requirement to loan money. The
CRA was a provision that required lenders be in compliance with ONLY
if they wanted to expand operations or undertake a merger. Dumbfuck.
Do you conservatard losers do your homework on ANYTHING?
hudley...@hotmail.com
> dave wrote:
Underlying cause: the notion Reagan proved that deficits don't matter.
Another: the Military-Industrial Complex
saltyfi...@gmail.com
LOL - that's like saying eating a rotton peice of meat didn't cause
your diarrhea. The cause was your digestive system - ROTFLMAO.
Wow - I guess economics is as rarely taught in government run schools
as is Latin.
Or is it the obfuscation by means of Neo-Communist propaganda.
Eat brains and shit propaganda.
Dr.David - PhD (Piled Higher and Deeper) Your ignorance (or is it
obfuscation) reveals much about you (and your motive).
saltyfi...@gmail.com
BTW, Dr.David - PhD (Piled Higher and Deeper), Nasdaq is down 44%
since you appointed ObaMao DiKtator.
The Invisible Hand of the Free Market is speaking. Apparently it is
all Greek to you.
dave
>
> BTW, Dr.David - PhD (Piled Higher and Deeper), Nasdaq is down 44%
> since you appointed ObaMao DiKtator.
>
> The Invisible Hand of the Free Market is speaking. Apparently it is
> all Greek to you.
I voted for Cynthia McKinney.
The market started crashing in the fall of 2007.
Capitalism has failed again. If Mr. Obama resurrects it you will owe
him a debt of gratitude.
saltyfi...@gmail.com
ObaMao will resurect from the dead - SOCALISM.
Free markets and Capitalism are completely foreign concepts in your
Liberal Fascist world.
Just like you, Dr.DaviD, PhD [Piled Higher and Deeper], Socialism has
always been a failure - ALWAYS.
Of course they don't teach you that at the Union Hall or the
Government run Maoist schools.
And just like you, ObaMa0 will be a failure. Put can your money on
it.
dave
>
> ObaMao will resurect from the dead - SOCALISM.
As I live near Los Angeles, I favor SoCalism.
tianm...@gmail.com
> saltyfishsa...@gmail.com wrote:
>
> > ObaMao will resurect from the dead - SOCALISM.
>
> As I live near Los Angeles, I favor SoCalism.
The Winner is...
SaltyFishSauce - 10
Dr David - Zero
tianm...@gmail.com
>
Do you Liberal fascists ever tire of parroting the Neo-Communist
propaganda lies?
obamao.sux....@gmail.com
>
> Do you Liberal fascists ever tire of parroting the Neo-Communist
> propaganda lies?
>
> http://www.city-journal.org/printable.php?id=477
>
We have to rehash this every week for the Liberal Fascist Neo-Tard
idiots:
The Real Culprits In This Meltdown - Clinton Democrats
http://www.ibdeditorials.com/IBDArticles.aspx?id=306370789279709
Andrew Cuomo and Fannie and Freddie
How the youngest Housing and Urban Development secretary in history
gave birth to the mortgage crisis
http://www.villagevoice.com/content/printVersion/541234
Bankrupt "Exploiters"
http://www.townhall.com/columnists/ThomasSowell/2008/07/22/bankrupt_exploiters
http://www.townhall.com/columnists/ThomasSowell/2008/07/23/bankrupt_exploiters_part_ii
How "Smart Growth" Exacerbated the International Financial Crisis
http://www.heritage.org/Research/Economy/wm1906.cfm
How U. S. Land Use Restrictions Exacerbated the International Finance
Crisis
http://www.demographia.com/db-overhang.pdf
Who is to blame?
http://cafehayek.typepad.com/hayek/2008/09/who-is-to-blame.html
Brenda Ann
<obamao.sux....@gmail.com> wrote in message
news:9078c1c4-9970-4746...@y38g2000prg.googlegroups.com...
<a bunch of crap>
How about we blame it all on the ones who are REALLY to blame? Let's drop
all this idiotic political bullcrap coming from both sides, and call it the
way it really is...
The ONLY ones to blame for the mortgage crisis are those who stupidly went
far beyond their means to obtain a home loan, and couldn't pay it as agreed.
No politician, on either side, twisted anyone's arm or held a gun to
anyone's head in order to force them to take a mortgage 200-300% beyond
their financial means.
I'm so sick of everyone.. EVERYONE.. blaming someone else for their actions.
The only thing that's going to save our economy, or even our society for
that matter, in the long run, is for people to go back to taking personal
responsibility for their own actions instead of trying to blame any other
convenient scapegoat, whether it be a politician, banker, or whatever.
dxAce
Brenda Ann wrote:
One has to blame the politicians because they are the ones who set the rock on
its way down the hill (no pun intended),
And people, being people, took things to the extreme.
In fact, people (mostly more politicians), have been back up to the hill to beg
for more rocks.
Sometime, down the rocky road, we'll discover that the porkulus didn't work.
And, it would seem as though we're already beginning to see a glimmer of the end
of this current 'recession', which was going to end whether one dime was spent
or not.
But, pork excites the masses, pork buys votes. But when pork is not cooked
properly and with care, trichinosis results.
Chew carefully.
dave
>
> And, it would seem as though we're already beginning to see a glimmer of the end
> of this current 'recession', which was going to end whether one dime was spent
> or not.
That's this week's talking point, anyway. However there are no data to
back up such an assertion. This is going to take years, and (hopefully)
we'll never get back to where we were.
dxAce
dave wrote:
> dxAce wrote:
>
> >
> > And, it would seem as though we're already beginning to see a glimmer of the end
> > of this current 'recession', which was going to end whether one dime was spent
> > or not.
>
> That's this week's talking point, anyway.
Actually, I heard about it, say two weeks or so back.
> However there are no data to
> back up such an assertion.
I believe the data came from OMB.
> This is going to take years, and (hopefully)
> we'll never get back to where we were.
We'll be back!
dave
dxAce
dave wrote:
Yep, and I've heard of dumbass schizophrenics before, too!
dave
>>>
>> That's what frightens me. Ever heard of a dead cat bounce?
>
> Yep, and I've heard of dumbass schizophrenics before, too!
>
>
I'm sure you have.
Mike
It's probably the resaon he's receiving that disability from Social
Security....
dxAce
Sorry, wrong again, oh lying one.
What's the reason you lied about having a PhD?
Telamon
"Brenda Ann" <bre...@shinbiro.com> wrote:
>
> <obamao.sux....@gmail.com> wrote in message
> news:9078c1c4-9970-4746...@y38g2000prg.googlegroups.com...
>
>
> <a bunch of crap>
>
> How about we blame it all on the ones who are REALLY to blame? Let's drop
> all this idiotic political bullcrap coming from both sides, and call it the
> way it really is...
< SNIP >
I blame RHF. He posts the most crap.
--
Telamon
Ventura, California
Telamon
dxAce <dx...@milestones.com> wrote:
Hey, let's call it what it really is, pork is just a way to buy votes.
That is outright fraudulent behavior. It is not any more complicated
than that. Once you allow vote buying it is impossible to expect human
beings not to abuse that power. It is just too tempting for most to
resist.
There must be an iron clad rule that bills can not be written to include
spending of this nature and congress people must recluse themselves from
voting on a bill when prudent. If they are not doing this then they are
playing the pork bill vote buying power game. Congress people should be
impeached for vote buying. That will get rid of the scum that keeps
getting voted back into office.
--
Telamon
Ventura, California
dave
> There must be an iron clad rule that bills can not be written to include
> spending of this nature and congress people must recluse themselves from
> voting on a bill when prudent. If they are not doing this then they are
> playing the pork bill vote buying power game. Congress people should be
> impeached for vote buying. That will get rid of the scum that keeps
> getting voted back into office.
>
I will agree to that provided you agree that we make defense contractors
not-for-profit enterprises.
Telamon
dave <da...@dave.dave> wrote:
Nope. National defense is one of the few things the Federal government
is supposed to spend money on. The Federal Government is charged with
providing for the common defense.
The Fed's are not supposed to be dolling money out to this or that state
through this or that agency, bureau, commission, or bill. The Fed can
spend money on border defense, the armed services, interstate commerce
and that's about it.
Congress people should be impeached for any vote deal making period.
Congress people should recluse themselves on any bill that enriches any
of their constituents.
--
Telamon
Ventura, California
dave
> In article <498f52a4$0$31194$bd46...@news.dslextreme.com>,
> dave <da...@dave.dave> wrote:
>>>
>> I will agree to that provided you agree that we make defense contractors
>> not-for-profit enterprises.
>
> Nope. National defense is one of the few things the Federal government
> is supposed to spend money on. The Federal Government is charged with
> providing for the common defense.
>
So is securing the blessings of liberty for all, not just the entrenched
wealthy elite.
We have failed on so many levels it seems silly to selective assign blame.
RHF
> <obamao.sux.donki.dix...@gmail.com> wrote in message
For many of them it was not about buying a Home
it was cheap rent for 1~3~5 Years via an ARM. ~ RHF
.
RHF
Here is an Example of Porkulus in the Obama
Spend-2-Much Bill : How does 460 Million Dollars
of Over-Seas Family Planning Aid {Free Abortions}
help to 'stimulate' the USA Internal Economy ? ? ?
-answer- IT DON"T [.]
.
RHF
wrote:
> In article <498f52a4$0$31194$bd467...@news.dslextreme.com>,
>
> dave <d...@dave.dave> wrote:
> > Telamon wrote:
>
> > > There must be an iron clad rule that bills can not be written to include
> > > spending of this nature and congress people must recluse themselves from
> > > voting on a bill when prudent. If they are not doing this then they are
> > > playing the pork bill vote buying power game. Congress people should be
> > > impeached for vote buying. That will get rid of the scum that keeps
> > > getting voted back into office.
>
> > I will agree to that provided you agree that we make defense contractors
> > not-for-profit enterprises.
- Nope. National defense is one of the few things
- the Federal government is supposed to spend
- money on. The Federal Government is charged
- with providing for the common defense.
Dang Dave - Telamon is Right-On !
The Constitution of the United States of America
http://www.law.cornell.edu/constitution/constitution.preamble.html
* * * Preamble {Starting With} "We The People...."
We the people of the United States, in order to
form a more perfect union, establish justice, insure
domestic tranquility, provide for the common defense,
promote the general welfare, and secure the blessings
of liberty to ourselves and our posterity, do ordain and
establish this Constitution for the United States of America.
.
provide for the common defense,
.
Provide For The Common Defense.
.
PROVIDE FOR THE COMMON DEFENSE !
.
The Duty {Role} of the US Federal Government
is to Provide For The Common Defense -per-
The Constitution of the United States of America
.
1 - Maybe someone should remind the President
Barack 'Hussein' Obama of that Fact.
-obtw- Ain't Barack 'Hussein' Obama supposed to
be the Commander-in-Chief of the US Military ?
-and- Protect American and US Citizens from All
Enemies both Foreign and Domestic ?
.
oops - obama has declared limbaugh, hannity,
beck, o'reilly, etc all enemies of the people.
.
2 - Certainly everyone should remind the Democrats
{Pelosi & Reid} in control of the US Congress of that
Fact.
.
oops there is no 'porkukus' for the us military ~ RHF
.
RHF
<telamon_spamshi...@pacbell.net.is.invalid> wrote:
> In article <qZidncQkyqwm4xPUnZ2dnVY3goydn...@giganews.com>,
> "Brenda Ann" <bren...@shinbiro.com> wrote:
>
>
>
> > <obamao.sux.donki.dix...@gmail.com> wrote in message
> >news:9078c1c4-9970-4746...@y38g2000prg.googlegroups.com...
>
> > <a bunch of crap>
>
> > How about we blame it all on the ones who are REALLY to blame? Let's drop
> > all this idiotic political bullcrap coming from both sides, and call it the
> > way it really is...
>
> < SNIP >
- I blame RHF. He posts the most crap.
-
- --
- Telamon
- Ventura, California
More CRAP All The Time And Every Where
shit 3-hours a day is all i ask ~ RHF
.
m II
>> I will agree to that provided you agree that we make defense contractors
>> not-for-profit enterprises.
> Nope. National defense is one of the few things the Federal government
> is supposed to spend money on. The Federal Government is charged with
> providing for the common defense.
You are answering the wrong question. dave asked to eliminate the profit
motive from arms sales to government, not for Government to stop
spending on arms.
I don't know why dave would ask that.
We all know that NO defense contractor has EVER overpriced ANYTHING they
have sold to the US taxpayer. Even the lobbyists serve a valuable role.
Politicians in general are so underpaid that they NEED all the free
lunches they can get.
mike
RHF
Mike [M II}
Your Understanding is very understandable.
The Dumbest things the US Government did was
to reduce the Size of the US Military and do away
with Civilian Staffed Logistics and Material Support
Facilities and Depots.
Presently the US Military is 250K to 375K Men
and Women in Uniform Understaffed and about
50,000 to 125,000 Civilian Workers short of a
World Wide [20~50 Year] War-on-Terror
Operational Readiness Requirement.
The US Congress is Short Changing the US Military
by 300K to 500K Personnel. Once the First National
Guard and Reserve Units had been deployed for
18 Months the Regular US Military should have been
Up-Sized [Fully Staffed] for the World Wide [20~50
Year] War-on-Terror Operational Readiness Requirements.
the truth be told - the us congress is f*cking-over
the national guard and reserve units and failing to
protect america and us citizens - imho ~ RHF
.
.
Telamon
> Telamon wrote:
>
> >> I will agree to that provided you agree that we make defense contractors
> >> not-for-profit enterprises.
>
> > Nope. National defense is one of the few things the Federal government
> > is supposed to spend money on. The Federal Government is charged with
> > providing for the common defense.
>
> You are answering the wrong question. dave asked to eliminate the profit
> motive from arms sales to government, not for Government to stop
> spending on arms.
I answered correctly. The constitution does not provide for a communist
form of government.
> I don't know why dave would ask that.
>
> We all know that NO defense contractor has EVER overpriced ANYTHING they
> have sold to the US taxpayer. Even the lobbyists serve a valuable role.
> Politicians in general are so underpaid that they NEED all the free
> lunches they can get.
Nice tangential off take to nowhere.
--
Telamon
Ventura, California
dxAce
Telamon wrote:
Nowhere? That's CanaDuh!
dave
> I answered correctly. The constitution does not provide for a communist
> form of government.
It doesn't rule one out.
Telamon
dave <da...@dave.dave> wrote:
Yeah, we got one now.
I just listened to todays obomination speech "only government has the
resources to save the economy". What a bunch of crap. This **** for
brains thinks the government is bigger than the economy that supports
it. What a fool.
Oh yeah, and according to this fool unions now count as a producing
businesses.
--
Telamon
Ventura, California
RHF
> On Feb 8, 1:45 am, dxAce <dx...@milestones.com> wrote:
>
>
>
> > Brenda Ann wrote:
> > > <obamao.sux.donki.dix...@gmail.com> wrote in message
> > >news:9078c1c4-9970-4746...@y38g2000prg.googlegroups.com...
>
> > > <a bunch of crap>
>
> > > How about we blame it all on the ones who are REALLY to blame? Let's drop
> > > all this idiotic political bullcrap coming from both sides, and call it the
> > > way it really is...
>
> > > The ONLY ones to blame for the mortgage crisis are those who stupidly went
> > > far beyond their means to obtain a home loan, and couldn't pay it as agreed.
> > > No politician, on either side, twisted anyone's arm or held a gun to
> > > anyone's head in order to force them to take a mortgage 200-300% beyond
> > > their financial means.
>
> > > I'm so sick of everyone.. EVERYONE.. blaming someone else for their actions.
> > > The only thing that's going to save our economy, or even our society for
> > > that matter, in the long run, is for people to go back to taking personal
> > > responsibility for their own actions instead of trying to blame any other
> > > convenient scapegoat, whether it be a politician, banker, or whatever.
>
> > One has to blame the politicians because they are the ones who set the rock on
> > its way down the hill (no pun intended),
>
> > And people, being people, took things to the extreme.
>
> > In fact, people (mostly more politicians), have been back up to the hill to beg
> > for more rocks.
>
>
> > And, it would seem as though we're already beginning to see a glimmer of the end
> > of this current 'recession', which was going to end whether one dime was spent
> > or not.
>
> > But, pork excites the masses, pork buys votes. But when pork is not cooked
> > properly and with care, trichinosis results.
>
> > Chew carefully.
- Here is an Example of Porkulus in the Obama
- Spend-2-MuchBill: How does 460 Million Dollars
- of Over-Seas Family Planning Aid {Free Abortions}
- help to 'stimulate' the USA Internal Economy ? ? ?
- -answer- IT DON"T [.]
- .
.
Obama's Porkulus Bill legislation’s Total Cost is
More than the Entire Cost of the Iraq War since
U.S. Troops Liberated Iraq in 2003.
http://tinyurl.com/d2gm5z
.
http://www.newsmax.com/newsfront/stimulus_specter_taxes/2009/02/12/181372.html
.
http://groups.google.com/group/rec.radio.shortwave/msg/e17a3940ff69e3ae
.
Telamon
<telamon_spamshield-D...@newsclstr02.news.prodigy.com>,
Telamon <telamon_s...@pacbell.net.is.invalid> wrote:
The obomination has spent his time in office lying so far, and breaking
the promises he made during his campaign, and the criminals he has
appointed to his cabinet have followed suit so far.
Now he has seen fit to destroy the future economy with the weight of the
omnibus spending bill that will just make things worse and draw out this
recession.
I expect the next broken promise to be the "transparent" administration
he promised. Here is the "out of the mouth of the devil" link to watch.
<http://www.financialstability.gov/>
I expect this link to provide propaganda at best.
--
Telamon
Ventura, California
RHF
<telamon_spamshi...@pacbell.net.is.invalid> wrote:
> In article
> <telamon_spamshield-DDB16D.17402009022...@newsclstr02.news.prodigy.com>,
>
>
>
> Telamon <telamon_spamshi...@pacbell.net.is.invalid> wrote:
> > In article <CamdnQAUGsUQqg3UnZ2dnUVZ_hULA...@earthlink.com>,
> > dave <d...@dave.dave> wrote:
>
> > > Telamon wrote:
>
> > > > I answered correctly. The constitution does not provide for a communist
> > > > form of government.
>
> > > It doesn't rule one out.
>
> > Yeah, we got one now.
>
> > I just listened to todays obomination speech "only government has the
> > resources to save the economy". What a bunch of crap. This **** for
> > brains thinks the government is bigger than the economy that supports
> > it. What a fool.
>
> > Oh yeah, and according to this fool unions now count as a producing
> > businesses.
>
> The obomination has spent his time in office lying so far, and breaking
> the promises he made during his campaign, and the criminals he has
> appointed to his cabinet have followed suit so far.
>
- with the weight of the omnibus spending bill that
- will just make things worse and draw out this
- recession.
.
Obama's Porkulus Bill legislation’s Total Cost is
More than the Entire Cost of the Iraq War since
U.S. Troops Liberated Iraq in 2003.
http://tinyurl.com/d2gm5z
.
>
Telamon
<9933aef0-17e8-4475...@b40g2000pri.googlegroups.com>,
RHF <rhf-new...@pacbell.net> wrote:
< SNIP >
> - Now he has seen fit to destroy the future economy
< SNIP >
Just like you destroy this news group on a daily basis.
Whether you intend this outcome or not you have clearly been, and
continue to be, the single most destructive element to the degeneration
of this news group.
I can't believe that the discussion destroying crap you continually post
here is not intentional.
--
Telamon
Ventura, California