I blame our government for this mortgage crisis, that means Democrats, Republicans, and Independents.
Although lately I’m getting pretty tied of the Democrats blaming the Republicans lack of regulation, when it was the Democrats that blocked “Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190″;
http://www.govtrack.us/congress/bill.xpd?bill=s109-190
a bill that would have placed much needed regulations on Fannie Mae and Freddie Mac. Every single Democrat voted against it in Committee, and threatened it with a filibuster if it were to be brought to the Senate floor for a full vote by the Senate.
Now we need John McCain to wake up and expose these Democrats for what they are. He needs to in his own words:
“Fight for whats right for our country.
Fight for the ideals and character of a free people.
Fight for our childrens future.
Fight for justice and opportunity for all.
Stand up to defend our country from its enemies.
Stand up for each other; for beautiful, blessed, bountiful America.
Stand up, stand up, stand up and fight. Nothing is inevitable here. Were Americans, and we never give up. We never quit. We never hide from history. We make history.”
Come on McCain, get with it!
Now here’s part of an article I read.
The truth about the Mortgage meltdown. It is a Democratic debacle!
In 1999, liberals were bragging about extending affirmative action to the financial sector. Los Angeles Times reporter Ron Brownstein hailed the Clinton administration’s affirmative action lending policies as one of the “hidden success stories” of the Clinton administration, saying that “black and Latino homeownership has surged to the highest level ever recorded.”
Meanwhile, economists were screaming from the rooftops that the Democrats were forcing mortgage lenders to issue loans that would fail the moment the housing market slowed and deadbeat borrowers couldn’t get out of their loans by selling their houses.
Rep. Barney Frank denounced Mankiw, saying he had no “concern about housing.” How dare you oppose suicidal loans to people who can’t repay them! The New York Times reported that Fannie Mae and Freddie Mac were “under heavy assault by the Republicans,” but these entities still had “important political allies” in the Democrats.
Now, at a cost of hundreds of billions of dollars, middle-class taxpayers are going to be forced to bail out the Democrats’ two most important constituent groups: rich Wall Street bankers and welfare recipients.
Political correctness had already ruined education, sports, science and entertainment. But it took a Democratic president with a Democratic congress for political correctness to wreck the financial industry.
Duration : 0:9:53
[youtube SCTxZa9kpSI]
June 21st, 2010 at 2:17 am
A new financial …
A new financial reform bill titled “Inclusion of Minorities and Women; Diversity in Agency Workforce” requires each federal financial agency, the Fed Board of Governors and the 12 regional Fed banks to “establish an Office of Minority and Women Inclusion” to allocate credit by race and gender ignoring the fact that our current recession’s catalyst was the “housing bubble.”
June 21st, 2010 at 2:17 am
incredibly …
incredibly illuminating!
June 21st, 2010 at 2:17 am
I blame it on those …
I blame it on those who lie on their applications saying they have this so called “good job” to pay back the loan when in reality they don’t. And then they wonder why these people are calling me. It’s because you owe me money and the money you owe me is not yours so give it back.
June 21st, 2010 at 2:17 am
I BLAME THE PEOPLE …
I BLAME THE PEOPLE for choosing such lousy hot air bags for leaders. Ha! Hope you do better next time Americans!
Who is the bigger fool? the fool, or the fool who follows the fool?….I laugh every time your media and political wind bags toy with the population like puppets. Ha!
June 21st, 2010 at 2:17 am
@dingolero22 Where …
@dingolero22 Where exactly is FOX news lying? Give the exact statements and point in the video. Prove your point, you liberals are supposed to be smarter then us, right, so show it. if not, then shut up and go down with your party, again!
June 21st, 2010 at 2:17 am
@dingolero22 Your …
@dingolero22 Your ignorance really makes you look foolish. The Dems have been in control since 2006 and the Bush administration, stilling focused on the the Iraq War couldn’t get to the Democrats to do anything. YOu can try and misdirect all you want but this baby belongs to the liberals Democrats. History is history,
June 21st, 2010 at 2:17 am
How funny!!! …
How funny!!! Notice the dates. The Republicans were in charge of Congress, and the executive branch during this time. It’s called Fox News propoganda. Smart, informed people don’t believe a thing they say. Again, the Republicans controlled both houses and the executive during this time, but Fox insists on lying about it.
June 21st, 2010 at 2:17 am
ACORN’s Madeline …
ACORN’s Madeline Talbot along with the help of Barack Hussein Obama helped kick off what would become the subprime meltdown (along with CRA, Glass Stegall and Clinton). The idea is the destroy capitalism via the “poor”. It has been their goal for sometime now. And with the help of the complacent American moron, they are now in power.
June 21st, 2010 at 2:17 am
Who’s responsible? …
Who’s responsible? “We the People” are responsible. These people are not our LEADERS, like communist China. They are our elected representatives. We put the criminals in charge and we are responsible for not getting rid of them. Follow the voting records, and that will lead you to the money. Any pol with corporate sponsorship needs to go. It’s time for the American people to take this runaway circus wagon by the reins.
June 21st, 2010 at 2:17 am
if you keep up to …
if you keep up to date on developments and whats around in the market, you don’t just have to endure your mortgage, you can mater it.
masterthemortgage. com
Take a look and see what’s available, you might be pretty surprised.
June 21st, 2010 at 2:17 am
@joysinout
Yeah, …
@joysinout
Yeah, don’t call Jesus unless you have a reason, you probably interrupted a miracle with your comment.
Religion would be funny if it didn’t have such dire consequences to go along with it.
Look joy, I’m not saying there is no god, because I don’t know if there is or isn’t, but I can tell you if there is a god or supreme being, then man made religions are an insult to him, her, or it.
June 21st, 2010 at 2:17 am
Cool, 90%, that’s …
Cool, 90%, that’s like an A.
June 21st, 2010 at 2:17 am
Hero: It was …
Hero: It was government “requirement” (Obama was an attorney for ACORN and they pressured Clinton ’98 to “regulate” who got loans) that led to the mortgages being financed for african Americans because they were being turned down at a higher rate than white folks. That’s regulation, any way you cut it. jbranstetter04 is 90% correct.
June 21st, 2010 at 2:17 am
Jesus-Holy-Fuckin’- …
Jesus-Holy-Fuckin’-Pogo-Stick-Jumpin’-Hippie-Goddamn-CHRIST!!! Would you be equally as offended if someone said “for Allah’s sake”?
June 21st, 2010 at 2:17 am
Do you know the …
Do you know the Christ of which you speak? I do! I would appreciate it if you would not use His name unless you are calling on Him for a reason and not just using His name in a vain statement. That is what God’s third commandment means…”Thou shalt not take the name of the Lord they God in vain…” In other words, PLEASE unless you need Him don’t use His name!!! Thank you!
June 21st, 2010 at 2:17 am
I blame both …
I blame both parties for the mess we are in. The government interfered in the free market enticing banks to make loans that should not have been made. And then they failed to regulate the effect of what they had done. They did not see the cause and effect. They never think things through to there natural outcome. They created an atmosphere for greed, and then they failed to follow up with new regulation to counter that greed. This may not be all that went wrong, but it’s part of it.
June 21st, 2010 at 2:17 am
In honor of your …
In honor of your being a good sport about it, I’m going to do something I don’t normally do, and give props to Bush. The reason he opposed it was because it still had the provision that government could appoint board members to the boards of Freddie and Fannie. He wanted them to be completely separate from government, and not give the impression that they were still government entities.
June 21st, 2010 at 2:17 am
Everything you said …
Everything you said I believe is true. I will only add that I believe the bill was threatened with a filibuster that the republicans did not have the votes to stop.
If the republicans new that this was such an important piece of legislation to get passed in order to save the country from a near depression, then they should have been out on the steps of the capital building yelling at the top of their lungs that the democrats were blocking it. They obviously didn’t feel that passionate about it
June 21st, 2010 at 2:17 am
As you can see from …
As you can see from your own link, s.190 (109th) passed the banking committee (hence the word ‘favorable.’) The banking committee chaimrman (Shelby R-Ala) never sent it to the floor for a vote. Also, President bush released two policy statements from the White House opposing both s.190 and HR 1469. You also fail to mention that McCain didn’t sponsor it until AFTER it had died in committee.
June 21st, 2010 at 2:17 am
who is responsible! …
who is responsible! the Government for christ sake!!!!!!!!
June 21st, 2010 at 2:17 am
@Lumadar, what are …
@Lumadar, what are you talking about?
Wasn’t the CRA used to give loans to poor non-white people?
And i hate to tell you this, but this CRA blame shows the people who believe it can’t apply basic numerical logic to a situation. Which is a shame because the lowest rate of foreclosures happened in red states, like Louisiana. Republicans could’ve used that outcome in our favor. Instead Fox is tossing out myths which is irrelevant to the big scheme. watch?v=XdbQKo4rD40
June 21st, 2010 at 2:17 am
@karen32862, i …
@karen32862, i already contacted her to express opposition to the bailout this fall. And of course she didn’t listen.
June 21st, 2010 at 2:17 am
@Lumadar, it was …
@Lumadar, it was reported that many of these “poor white ethnics” are, well upper middle class SPECULATORS.
June 21st, 2010 at 2:17 am
@Truelove6, I …
@Truelove6, I presented FACTs.
Why do you love drama so much?
June 21st, 2010 at 2:17 am
Sounds to me like …
Sounds to me like he finds your stupid comments painful.