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#72
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![]() "Mike" nospam @ microsoft.com wrote in message news ![]() "Irish Mike" wrote in message ... "David E. Powell" wrote in message ... On Oct 8, 3:28 pm, "Neil Gould" wrote: wrote: On Oct 7, 5:23 pm, Deadmoney Walking wrote: Can they gain entry due to the skin color of their fathers? actually, obama didn't fill out the race portion of his application to Harvard. So he got in based on his qualifications alone. Unlike McCain... Who not only didn't get into Havard, but finished 5th from last at the Naval Academy. "And unlike Obama we know this. Notice that with McCain they find people going back to grade school who talk freely about him, people know where he has stood since he was a kid. With Obama his career seems to start when he got elected Senator and started running for President. So does his whole biography. We hear "Community Organizer." OK. Organizing a community for what? Working with who? To what ends?" Obama was an arm twister for ACORN, one of the crookedest community shake-down groups in the country. They are currently under investigation for voter registration fraud in more than half a dozen states. In 1977 Jimmy Carter passed the Community Reinvestment Act to force banks to make home mortgage loans to financially unqualified miniorities in inner city neighborhoods. They fined any bank that did not comply. ACORN was funded by the Democrat party and helped them use "entitlement" subprime mortgage loans to buy minority votes. ACORN harrassed, intimidated and played the race card on any bank or finanace company that refused to make these unsound subprime mortgage loans. Obama helped ACORN file a law suit against an Illinois finance company to block their desired merger with another finance compay. ACORN succressfully argued that the finance company had not made enough subprime mortgage loans to minorities. Obama won the law suit and banks and finance companies all across the country began lowering their standards for subprime loans to minorities. Plus, the Democrats were pressuring F-MAE and F-MAC to buy up more and more of these subprime home mortgages. Then, in 1999, Bill Clinton required that F-MAE and F-MAC have up to 50% of their investment portfolios made up of subprime mortgages. This sent a clear message to Wall Street. And that message was that F-MAE and F-MAC would buy up all the high risk subprimes mortgages for minorities and low income people that the banks could write. Well the banks loved it. They were making money from up-front mortgage processing fees from mortgages to unqualified buyers that they would have never given a loan to in a hundred years if F-MAE and F-MAC weren't there to buy them. Then the banks got greedy and started bundling and reselling these subprime mortgages to investment banks, pension funds, insurance companies and private investors. In 2001 Bush tried to warn the country of the dangers of F-MAE and F-MAC but no one listened and Bush didn't push the warning as hard as he should have. John McCain wrote a warning letter, which was also ignored. In 2004, the Republicans introduced legislation that would have prevented, or at least greatly reduced, the impact of the subprime mortgage disaster but it was defeated by the Democrats and never passed. Eventually the housing market over heated from the influx of all this subprime mortgage cash and home prices were artifically inflated. Then the market corrected itself and home prices plunged. And what happened to all these unqualified buyers who bought houses they couldn't afford with mortgages they were too stupid to read? They found themselves paying on a $250K mortgage for a house that was now only worth $200K. What did they do? They just stopped making the mortgage payments. They weren't worried about ruining their credit because their credit was **** to begin with and they knew they never should have qualified for the home mortgage in the first place. They didn't put any money down, so they had no skin in the game. And the Democrats were telling them theywere "victims" any way. So when the subprime mortgages began to fail, it affected all of the other companies that had bought up these bundled and re-sold subprime mortgages. Because they had been used as collateral for even more loans. And then F-MAE and F-MAC, which they had thought was their "safety-net' went bankrupt for all practical purposes and the whole house-of-cards collapsed. The Democrats have controlled congress and chaired all of the banking and finance committees for the past two years. Between 8/07 and 8/08, under the "leadership" of Democrats and Barney Frank, F-MAE and F-MAC lost 90% of their stock value. The sad thing is that this financial disaster, which was caused by the predatory political tactics of Obama and the Democrats, is actually going to put them in the White House. Fortunately most people don't subscribe to the wingnut BS that you cut and paste without bothering to fact check the validity. I didn't cut and paste any thing. But, please, point out any thing that I said in my post that was not accurate, true and factual. Irish Mike |
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"Irish Mike" wrote in message
... "Mike" nospam @ microsoft.com wrote in message news ![]() "Irish Mike" wrote in message ... "David E. Powell" wrote in message ... On Oct 8, 3:28 pm, "Neil Gould" wrote: wrote: On Oct 7, 5:23 pm, Deadmoney Walking wrote: Can they gain entry due to the skin color of their fathers? actually, obama didn't fill out the race portion of his application to Harvard. So he got in based on his qualifications alone. Unlike McCain... Who not only didn't get into Havard, but finished 5th from last at the Naval Academy. "And unlike Obama we know this. Notice that with McCain they find people going back to grade school who talk freely about him, people know where he has stood since he was a kid. With Obama his career seems to start when he got elected Senator and started running for President. So does his whole biography. We hear "Community Organizer." OK. Organizing a community for what? Working with who? To what ends?" Obama was an arm twister for ACORN, one of the crookedest community shake-down groups in the country. They are currently under investigation for voter registration fraud in more than half a dozen states. In 1977 Jimmy Carter passed the Community Reinvestment Act to force banks to make home mortgage loans to financially unqualified miniorities in inner city neighborhoods. They fined any bank that did not comply. ACORN was funded by the Democrat party and helped them use "entitlement" subprime mortgage loans to buy minority votes. ACORN harrassed, intimidated and played the race card on any bank or finanace company that refused to make these unsound subprime mortgage loans. Obama helped ACORN file a law suit against an Illinois finance company to block their desired merger with another finance compay. ACORN succressfully argued that the finance company had not made enough subprime mortgage loans to minorities. Obama won the law suit and banks and finance companies all across the country began lowering their standards for subprime loans to minorities. Plus, the Democrats were pressuring F-MAE and F-MAC to buy up more and more of these subprime home mortgages. Then, in 1999, Bill Clinton required that F-MAE and F-MAC have up to 50% of their investment portfolios made up of subprime mortgages. This sent a clear message to Wall Street. And that message was that F-MAE and F-MAC would buy up all the high risk subprimes mortgages for minorities and low income people that the banks could write. Well the banks loved it. They were making money from up-front mortgage processing fees from mortgages to unqualified buyers that they would have never given a loan to in a hundred years if F-MAE and F-MAC weren't there to buy them. Then the banks got greedy and started bundling and reselling these subprime mortgages to investment banks, pension funds, insurance companies and private investors. In 2001 Bush tried to warn the country of the dangers of F-MAE and F-MAC but no one listened and Bush didn't push the warning as hard as he should have. John McCain wrote a warning letter, which was also ignored. In 2004, the Republicans introduced legislation that would have prevented, or at least greatly reduced, the impact of the subprime mortgage disaster but it was defeated by the Democrats and never passed. Eventually the housing market over heated from the influx of all this subprime mortgage cash and home prices were artifically inflated. Then the market corrected itself and home prices plunged. And what happened to all these unqualified buyers who bought houses they couldn't afford with mortgages they were too stupid to read? They found themselves paying on a $250K mortgage for a house that was now only worth $200K. What did they do? They just stopped making the mortgage payments. They weren't worried about ruining their credit because their credit was **** to begin with and they knew they never should have qualified for the home mortgage in the first place. They didn't put any money down, so they had no skin in the game. And the Democrats were telling them theywere "victims" any way. So when the subprime mortgages began to fail, it affected all of the other companies that had bought up these bundled and re-sold subprime mortgages. Because they had been used as collateral for even more loans. And then F-MAE and F-MAC, which they had thought was their "safety-net' went bankrupt for all practical purposes and the whole house-of-cards collapsed. The Democrats have controlled congress and chaired all of the banking and finance committees for the past two years. Between 8/07 and 8/08, under the "leadership" of Democrats and Barney Frank, F-MAE and F-MAC lost 90% of their stock value. The sad thing is that this financial disaster, which was caused by the predatory political tactics of Obama and the Democrats, is actually going to put them in the White House. Fortunately most people don't subscribe to the wingnut BS that you cut and paste without bothering to fact check the validity. I didn't cut and paste any thing. But, please, point out any thing that I said in my post that was not accurate, true and factual. Hmmm, so let me see how your game works. You feel free to post the most ridiculous BS without one single reference and then you think the burden of proving your BS wrong rests with the reader? I don't really feel the obligation to prove it's BS, but since I enjoy showing how some people are clueless, I'll be happy to take you up on your challenge. Here's a few instances of BS in your long winded rant that you seem insistent on taking full credit for: 1) CRA doesn't issue fines and never has from the first day Carter signed it through its many changes and up to today. From this alone, one can conclude that you don't have the slightest idea what you're talking about. 2) 80% of subprime mortgages were issued by financial institutions that weren't covered by CRA. 3) In 2004, Republicans controlled both the executive and legislative branches of government, yet you blame the Democrats for defeat of subprime mortgage legislation. 4) The Democrats passed legislation increasing regulation on GSEs not long after they took charge (after many years of Republicans failing to do so), yet you blame Barney Frank's leadership for their losing 90% of their value due to a problem that took many years to develop. 5) The warning letter you claim McCain "wrote", was actually written by someone else and was signed by numerous senators, including McCain. It was written to the Republican leadership in the US Senate urging more floor time to debate GSE reform and it was ignored by Bill Frist (R). 6) As far as McCain "warning" anyone about anything, all you have to do is listen to his own words: "I don't really know of hardly anybody who, with the exception of a handful, that said, wait a minute this thing is getting completely out of hand and is overheating. So, I'd like to tell you I did anticipate it, but I have to give you straight talk. I did not." http://www.nhelects.com/NHPrimaryVid...HTitle=VLTitle |
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#75
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But there has to be some way to blame big picture economic problems on
poor/lower-middle class Black people. What's the alternative? We can't blame rich White people, can we? Fox news told me they were all great. |
#76
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jacob wrote:
But there has to be some way to blame big picture economic problems on poor/lower-middle class Black people. What's the alternative? We can't blame rich White people, can we? Fox news told me they were all great. Fox news never said anything of the kind. Dan, U.S. Air Force, retired |
#77
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Dan wrote in :
jacob wrote: But there has to be some way to blame big picture economic problems on poor/lower-middle class Black people. What's the alternative? We can't blame rich White people, can we? Fox news told me they were all great. Fox news never said anything of the kind. Of course not, they just say that God kills French people as punishment for not kissing Bush's ass. Bertie |
#78
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![]() "David E. Powell" wrote in message ... On Oct 8, 3:28 pm, "Neil Gould" wrote: wrote: On Oct 7, 5:23 pm, Deadmoney Walking wrote: Can they gain entry due to the skin color of their fathers? actually, obama didn't fill out the race portion of his application to Harvard. So he got in based on his qualifications alone. Unlike McCain... Who not only didn't get into Havard, but finished 5th from last at the Naval Academy. And unlike Obama we know this. Notice that with McCain they find people going back to grade school who talk freely about him, people know where he has stood since he was a kid. With Obama his career seems to start when he got elected Senator You haven't been paying attention, there was a documentary on CNN and an extensive article in Time, just two places I know of where his life story is explored in detail. |
#79
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On Sun, 12 Oct 2008 07:21:12 -0700 (PDT), "David E. Powell"
wrote: On Oct 8, 3:28*pm, "Neil Gould" wrote: wrote: On Oct 7, 5:23 pm, Deadmoney Walking wrote: Can they gain entry due to the skin color of their fathers? actually, obama didn't fill out the race portion of his application to Harvard. So he got in based on his qualifications alone. Unlike McCain... Who not only didn't get into Havard, but finished 5th from last at the Naval Academy. And unlike Obama we know this. Um, we know that Obama was Magna Cum Laude at Harvard Law School. |
#80
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"Dan" wrote in message
... jacob wrote: But there has to be some way to blame big picture economic problems on poor/lower-middle class Black people. What's the alternative? We can't blame rich White people, can we? Fox news told me they were all great. Fox news never said anything of the kind. Dan, U.S. Air Force, retired Actually they did, Dan, U.S. Air Force, retired. On the September 18 edition of Fox News' Your World, host Neil Cavuto asked Rep. Xavier Becerra (D-CA), "[W]hen you and many of your colleagues were pushing for more minority lending and more expanded lending to folks who heretofore couldn't get mortgages, when you were pushing homeownership ... Are you totally without culpability here?" Cavuto later said, "I'm just saying, I don't remember a clarion call that said, 'Fannie and Freddie are a disaster. Loaning to minorities and risky folks is a disaster.' " During the September 25 edition of Fox News' The O'Reilly Factor, radio host Laura Ingraham said that "the problem here is government intervention in the free markets" and baselessly suggested that 1995 rules strengthening the CRA "pushed all these institutions to lend to minority communities, many were very risky loans." |
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