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Post by bunnywailer on Oct 31, 2008 15:40:15 GMT -5
This article is from September, 2003: query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63&sec=&spon=&pagewanted=printSo, the Bush administration recognized 8 years ago that Fannie Mae and Freddie Mac needed oversight, pushed for legislation to create an agency to provide oversight for these entities. The bill never made it Congress, due to sharp opposition from the Democrats. And yet, here we are today in 2008, and everyone on this board, and across the country want to place the blame for the subprime mortage collapse solely on the shoulders of the Bush Administration. These are the buttwipes that will be running the country for the next 4 years. Congratulations. We'll have a great 4 years of the President and Congress blaming everything that they were supposed to be elected to fix on the previous administration and previous sessions of Congress. Nice.
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Post by bunnywailer on Oct 31, 2008 15:42:39 GMT -5
Hell, even the damn CEO of Fannie Mae agreed that it was the right move to make at that time.
Stupid Democrats, opposed to what would have been the prudent move because of partisanship and their innate ability to take a simple, effective solution and make it complicated and confusing to the point where it gets shot down.
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Post by bunnywailer on Oct 31, 2008 15:57:15 GMT -5
Well, golly gee, will you just look at this statement? Obama harshly criticized the Bush administration's efforts so far to broker a largely voluntary effort between lenders and troubled homeowners to restructure their mortgage loans to try to help as many as possible stave off foreclosure. "After months of inaction and half-measures, the president traveled to New York last week to say that there is a danger in doing too much and implied that doing nothing would be preferable," Obama said. And for those of you who think I fabricated the above, here ya go: www.reuters.com/article/latestCrisis/idUSN17637246
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Post by bunnywailer on Oct 31, 2008 15:59:56 GMT -5
Now, I'm just a hack who spent about 10 minutes googling various things and found all this stuff.
Obama's campaign with all of them staffers getting paid all that money to provide information, strategy, and analysis, couldn't figure out themselves that they look TOTALLY STUPID trying to blame the subprime crisis solely on the Bush Administration?
Doesn't give me a whole lot of confidence on the overall intelligence or ability to make sound judgements of the soon-to-be-annointed Democratic party/braintrust that will be controlling Obama's every move over the next 4 years.
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Post by bunnywailer on Oct 31, 2008 16:02:02 GMT -5
So, 5 years ago, the Democrats told Bush don't even try to push legislation against Fannie Mae/Freddie Mac, keep the government's nose out of the mortgage business, it's doing just fine thank you.
Then, this year, when the house of cards collapses, the Dems tell Bush the exact opposite - why aren't you doing more to prevent this crisis?
Flippin' RETARDS.
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Post by bunnywailer on Oct 31, 2008 16:19:21 GMT -5
Kinda funny that all the YouTube links of Obama criticizing Bush for the mortgage crisis are still appearing on Google, but when you go to click on them, you get the "This video is no longer available..." page.
One thing nice about the internet is that once you put something up, people can somehow find it via mirror sites and such.
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Post by bunnywailer on Oct 31, 2008 16:24:44 GMT -5
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Post by bunnywailer on Oct 31, 2008 16:40:19 GMT -5
So, wait a sec Mr. Obama, are you saying in this speech that the government should hold banks accountable for questionable lending practices? Like say...keep some OVERSIGHT ON THEIR ACTIVITIES.....maybe even REGULATE what they can and can't do?
What an amazingly good idea! Hot damn, you should be President based on that idea alone.
But...wait...like 5 years ago, someone else floated that SAME IDEA? Gosh...for the life of me I can't remember who that was.
So, let's summarize here and put these events on a timeline:
2003-2005: Housing market explodes because of the ease at which people with crappy-ass credit are getting creatively-financed mortgages, helped in large part by community activitism from organizations like ACORN (which Obama has 100% irrefutable ties to) pressuring banks to float loans to these dipwads. President Bush and Congressional Republicans present the idea of stepping in and regulating the activities of the two largest lender organizations - Fannie Mae and Freddie Mac. Democrats tell them to shut up because they are smoking crack, and that everything is hunky dory and godddammit just leave these institutions alone for crying out loud.
2007-2008: Subprime market collapses, taking the entire housing market and the economy down with it. Democrats, quick to bounce on the "Where can we lay the blame for this?" seize the opportunity to blame the President and anyone associated with the President, like say, the Republican nominee, for the collapse. Meanwhile, unable to prevent this disaster because the Democrats were buttheads 3-5 years beforehand, the Administration and the Reupblicans in Congress press on and try to figure out a way to rescue the mortgage industry via a bailout. They again get criticized by the Democrats for offering this handout package to the very people that the Democrats helped to put into this position in the first place. Then the Democrats go further by completely reversing their position on the mortgage lending market by saying we now need government regulation, because it sounds good and makes them look good in 2008.
Yeah, it will be great to have them in charge, won't it?
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Post by mikegarrison on Oct 31, 2008 17:06:07 GMT -5
Wow, eight posts by you, and no responses (until this one). Kind of like a dog chasing its own tail. (Oops, there were actually eight posts by you, not seven. I forgot to count the original one.)
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Post by goGopherBill on Oct 31, 2008 17:07:34 GMT -5
You have scared them all way...Booo
They hide in the back pasture... Baaa
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Post by chipNdink on Oct 31, 2008 17:07:54 GMT -5
... So, let's summarize here and put these events on a timeline: 2003-2005: Housing market explodes because of the ease at which people with crappy-ass credit are getting creatively-financed mortgages, helped in large part by community activitism from organizations like ACORN (which Obama has 100% irrefutable ties to) pressuring banks to float loans to these dipwads. President Bush and Congressional Republicans present the idea of stepping in and regulating the activities of the two largest lender organizations - Fannie Mae and Freddie Mac. Democrats tell them to shut up because they are smoking crack, and that everything is hunky dory and godddammit just leave these institutions alone for crying out loud. ... Umm, Democrats didn't regain control of Congress till 2007, after the fall elections in 2006. How were Democrats able to control Bush and a Republican led Congress during 2003-2005??
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Post by The Bofa on the Sofa on Oct 31, 2008 19:33:09 GMT -5
Remember, Bob is a troll. He has clearly indicated he has no interest in having a serious discussion.
I'm glad that others see it as well.
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Post by bunnywailer on Oct 31, 2008 20:26:47 GMT -5
... So, let's summarize here and put these events on a timeline: 2003-2005: Housing market explodes because of the ease at which people with crappy-ass credit are getting creatively-financed mortgages, helped in large part by community activitism from organizations like ACORN (which Obama has 100% irrefutable ties to) pressuring banks to float loans to these dipwads. President Bush and Congressional Republicans present the idea of stepping in and regulating the activities of the two largest lender organizations - Fannie Mae and Freddie Mac. Democrats tell them to shut up because they are smoking crack, and that everything is hunky dory and godddammit just leave these institutions alone for crying out loud. ... Umm, Democrats didn't regain control of Congress till 2007, after the fall elections in 2006. How were Democrats able to control Bush and a Republican led Congress during 2003-2005?? Quick and dirty answer is that the reform of Government Sponsored Enterprises (GSEs), of which Fannie Mae and Freddie Mac were the two largest ones, was kicked around in both houses of Congress, and some legislation was written, but no final version was ever voted on or enacted into law. The Republicans did have control of both houses in 2005, but short of the 2/3rds majority to pass laws solely on partisan voting. Excerpt from this article: stlouisfed.org/news/speeches/2007/01_17_07.html"Congressional hearings were held, and GSE reform legislation was passed in oversight committees of both houses of Congress in 2004 and 2005, although no final legislation has been enacted as of this time." If you watched the debate and testimony in the video links I posted earlier, then it should be clear which side of the aisle was pushing for reform back in the 2003-2005, and which side thought everything was hunky dorky and was on the attack to maintain the status quo of questionable lending practices in the home mortgage arena.
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Post by bunnywailer on Oct 31, 2008 20:28:38 GMT -5
Remember, Bob is a troll. He has clearly indicated he has no interest in having a serious discussion. I'm glad that others see it as well. If all you can do is call me a troll after an overwhelming volume of evidence has been presented in this thread, then don't let the truth hit your big ass on your way out of this thread. Oh, I forgot, anything anti-majority opinion on this board is considered trolling. But post anything anti-McCain or "GWB sucks" and I'm welcome to rant as much as I want and you will give me a hug at the end, correct?
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Post by bunnywailer on Oct 31, 2008 20:30:53 GMT -5
Wow, eight posts by you, and no responses (until this one). Kind of like a dog chasing its own tail. (Oops, there were actually eight posts by you, not seven. I forgot to count the original one.) Good old mike. Stop confusing me dude. "Wait...there were eight...no seven...no wait I corrected myself there were actually eight, not eight like I said earlier...." LOL.
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