Hey McCain, talk about the economy!

[johnwk]

McCain needs to talk about the economy as follows, and with reference to our current financial melt down!




The seeds of today's financial meltdown lie in the Community Reinvestment Act
- a law passed in 1977 and made riskier by unwise amendments and regulatory
rulings in later decades.

CRA was meant to encourage banks to make loans to high-risk borrowers, often
minorities living in unstable neighborhoods. That has provided an opening to
radical groups like ACORN (the Association of Community Organizations for
Reform Now) to abuse the law by forcing banks to make hundreds of millions of
dollars in "subprime" loans to often uncreditworthy poor and minority
customers.

Any bank that wants to expand or merge with another has to show it has
complied with CRA - and approval can be held up by complaints filed by groups
like ACORN.

In fact, intimidation tactics, public charges of racism and threats to use CRA
to block business expansion have enabled ACORN to extract hundreds of millions
of dollars in loans and contributions from America's financial institutions.

Banks already overexposed by these shaky loans were pushed still further in
the wrong direction when government-sponsored Fannie Mae and Freddie Mac began
buying up their bad loans and offering them for sale on world markets.

Fannie and Freddie acted in response to Clinton administration pressure to
boost homeownership rates among minorities and the poor. However compassionate
the motive, the result of this systematic disregard for normal credit
standards has been financial disaster. _________ CLICK HERE (http://massdiscussion.blogspot.com/2008/09/obama-and-acorns-hands-have-fannie-and.html) for the full story

As we find out, the engine behind our current Fannie Freddie melt down began in the 1990’s when Madeline Talbot, a close friend and business associate of Obama, worked together with ACORN who started to use intimidating tactics to literally force banks to hand out sub prime mortgage loans to individuals who were not financially qualified to payoff these loans. The charge of “racism” was successively used as one of ACORN’s most powerful weapons to gain these high risk sub prime loans which Freddie and Fannie were literally force to buy! A specific Clinton policy required half of Freddie and Fannie loans to be sub prime loans, and which culminated in our current economic crisis in which the pensions and life savings of prudent hard working Americans have been stolen. And who do we have to thank, Obama, his friend Madeline Talbot, and the socialist ACORN gang which is now working to steal the election and put a socialist democratic party in power over the United States of America!

And let us not forget the above does not even take into account Obama’s pals in Congress like Barney Frank, Christopher Dodd, Maxine Waters , and other democrat socialists who blatantly stood in the way of proposed legislation to regulate Fannie and Freddie sub prime loan hand outs.

McCain needs to talk about the economy and point to Obama’s direct association with ACORN, Madeline Talbot a “community organizer” which started the slippery slope with high risk mortgage loans being handed out to people without the financial means to meet their payments. Another good article on this issue is O'S DANGEROUS PALS (http://www.nypost.com/seven/09292008/postopinion/opedcolumnists/os_dangerous_pals_131216.htm?page=0)

The unadulterated truth is, Obama had his hand in starting the financial melt down engine [high risk loans] which we are now paying for through the nose. And Obama wants to talk about the economy? He’s responsible for our economy’s current condition!


JWK

[Kathianne]

McCain needs to talk about the economy as follows, and with reference to our current financial melt down!




As we find out, the engine behind our current Fannie Freddie melt down began in the 1990’s when Madeline Talbot, a close friend and business associate of Obama, worked together with ACORN who started to use intimidating tactics to literally force banks to hand out sub prime mortgage loans to individuals who were not financially qualified to payoff these loans. The charge of “racism” was successively used as one of ACORN’s most powerful weapons to gain these high risk sub prime loans which Freddie and Fannie were literally force to buy! A specific Clinton policy required half of Freddie and Fannie loans to be sub prime loans, and which culminated in our current economic crisis in which the pensions and life savings of prudent hard working Americans have been stolen. And who do we have to thank, Obama, his friend Madeline Talbot, and the socialist ACORN gang which is now working to steal the election and put a socialist democratic party in power over the United States of America!

And let us not forget the above does not even take into account Obama’s pals in Congress like Barney Frank, Christopher Dodd, Maxine Waters , and other democrat socialists who blatantly stood in the way of proposed legislation to regulate Fannie and Freddie sub prime loan hand outs.

McCain needs to talk about the economy and point to Obama’s direct association with ACORN, Madeline Talbot a “community organizer” which started the slippery slope with high risk mortgage loans being handed out to people without the financial means to meet their payments. Another good article on this issue is O'S DANGEROUS PALS (http://www.nypost.com/seven/09292008/postopinion/opedcolumnists/os_dangerous_pals_131216.htm?page=0)

The unadulterated truth is, Obama had his hand in starting the financial melt down engine [high risk loans] which we are now paying for through the nose. And Obama wants to talk about the economy? He’s responsible for our economy’s current condition!


JWK

Spot on! Damn, that was good and concise.

[April15]

The bill that Clinton signed into law was sent to him by a republican congress with a veto proof vote. He signed it because it would be overridden anyway.
The entire financial prolems started long ago with deregulation of banks and savings and loans. You know that for 2 years McCain was under indictment but finally exonerated as part of a plea deal with Keating!

[emmett]

The bill that Clinton signed into law was sent to him by a republican congress with a veto proof vote. He signed it because it would be overridden anyway.
The entire financial prolems started long ago with deregulation of banks and savings and loans. You know that for 2 years McCain was under indictment but finally exonerated as part of a plea deal with Keating!


That is garbage! He was exonerated because the charge was unfounded. No part of any plea deal made with Keating mentioned JM's name.:link:

[PostmodernProphet]

The bill that Clinton signed into law was sent to him by a republican congress with a veto proof vote. He signed it because it would be overridden anyway.

better recheck your facts, April....CARs and subprime mortgages are a Democrat invention....

[Kathianne]

better recheck your facts, April....CARs and subprime mortgages are a Democrat invention....

You are correct, but do you really think April is dealing with reality? Nope, he's of another parallel universe. Of course, it's probably the same one Biden sited regarding US and France throwing Hezbollah out of Lebanon and installing NATO to keep them out. None of it happened, but it's a great tale.

[johnwk]

One thing is certain, if Obama is elected, expect him with the help of a very friendly Congress to relax our borders and allow millions upon millions of foreigners to flood into our country from foreign nations which will then create an irreversible voting majority for the Democrat Socialist Party to remain in power!

If Obama is elected, neither he nor the Democrat Socialist Party will ever need ACORN to steal a future election. Our children will pay the price!

Keep the warning in mind when you go to vote!

[Kathianne]

One thing is certain, if Obama is elected, expect him with the help of a very friendly Congress to relax our borders and allow millions upon millions of foreigners to flood into our country from foreign nations which will then create an irreversible voting majority for the Democrat Socialist Party to remain in power!

If Obama is elected, neither he nor the Democrat Socialist Party will ever need ACORN to steal a future election. Our children will pay the price!

Keep the warning in mind when you go to vote!

This argument is wrong. As our economy is in free fall, the illegals have halted coming here. Indeed, many are returning to countries of origin. There are many good arguments for voting against Obama, this just is not one of them.

[namvet]

The bill that Clinton signed into law was sent to him by a republican congress with a veto proof vote. He signed it because it would be overridden anyway.
The entire financial prolems started long ago with deregulation of banks and savings and loans. You know that for 2 years McCain was under indictment but finally exonerated as part of a plea deal with Keating!


The entire financial prolems started long ago with deregulation of banks and savings and loans.

and who started it?????

[April15]

and who started it?????

The hero of the republicans Ronnie raygun!

[namvet]

The hero of the republicans Ronnie raygun!

wrong !!!! go further back

[manu1959]

The bill that Clinton signed into law was sent to him by a republican congress with a veto proof vote. He signed it because it would be overridden anyway.
The entire financial prolems started long ago with deregulation of banks and savings and loans. You know that for 2 years McCain was under indictment but finally exonerated as part of a plea deal with Keating!

clinton said the other day no one made him sign the bill.....he chose to...if he thought it was crap he should have vetoed it and been overridden.....

[krisy]

I think your right,john. I just hope he will pound these issues hard enough. Sometimes ,it seems he is trying to hard to be polite.

[Kathianne]

The hero of the republicans Ronnie raygun!

you are a lost soul, or an idiot. Hard to tell, yet.

[johnwk]

One thing is certain, if Obama is elected, expect him with the help of a very friendly Congress to relax our borders and allow millions upon millions of foreigners to flood into our country from foreign nations which will then create an irreversible voting majority for the Democrat Socialist Party to remain in power!

If Obama is elected, neither he nor the Democrat Socialist Party will ever need ACORN to steal a future election. Our children will pay the price!

Keep the warning in mind when you go to vote!This argument is wrong. As our economy is in free fall, the illegals have halted coming here. Indeed, many are returning to countries of origin. There are many good arguments for voting against Obama, this just is not one of them.

I'm sorry but we must disagree. I am not talking about illegal aliens or those who invade our borders. I'm talking about immigration policy intentionally designed to allow millions of foreigners to immigrate into our country to establish a overwhelming voting block for the Democrat Socialist Party. Keep in mind the Party leaders are only concerned with maintaining power in Washington, they could care two hoots as to what happens to America.


JWK

[manu1959]

I'm sorry but we must disagree. I am not talking about illegal aliens or those who invade our borders. I'm talking about immigration policy intentionally designed to allow millions of foreigners to immigrate into our country to establish a overwhelming voting block for the Democrat Socialist Party. Keep in mind the Party leaders are only concerned with maintaining power in Washington, they could care two hoots as to what happens to America.


JWK

one could easily argue that is the purpose of both parties ....

[Yurt]

I'm sorry but we must disagree. I am not talking about illegal aliens or those who invade our borders. I'm talking about immigration policy intentionally designed to allow millions of foreigners to immigrate into our country to establish a overwhelming voting block for the Democrat Socialist Party. Keep in mind the Party leaders are only concerned with maintaining power in Washington, they could care two hoots as to what happens to America.


JWK

thank you, no more....let's agree to disagree....when people disagree, why try and make an agreement out of no agreement...it is silly....yet the words have entered our popular lexicon.

[Yurt]

one could easily argue that is the purpose of both parties ....

that is absolutely true

[April15]

you are a lost soul, or an idiot. Hard to tell, yet.I am neither.

[namvet]

I am neither.

prove it :link::link:

[April15]

prove it :link::link:
I don't need to prove it. You just need to acknowledge that I am smarter and better than you. But if you don't that is ok cause I can understand.

[midcan5]

Tighter regulation is the only cure to the financial bedlam that bubbles create.

"Also, Fannie and Freddie, while tightly regulated in terms of their lending, haven't been required to put up enough capital - that is, money raised by selling stock rather than borrowing. This means that even a small decline in the value of their assets can leave them underwater, owing more than they own.

And yes, there is a real political scandal here: There have been repeated warnings that Fannie's and Freddie's thin capitalization posed risks to taxpayers, but the companies' management bought off the political process, systematically hiring influential figures from both parties. While they were ugly, however, Fannie's and Freddie's political machinations didn't play a significant role in causing the current problems."


http://www.iht.com/articles/2008/07/14/opinion/edkrugman.php

[namvet]

I don't need to prove it. You just need to acknowledge that I am smarter and better than you. But if you don't that is ok cause I can understand.

first day with your new ego mr president ???? we-ASS-u-me then you should leave the board. they're not befitting of you. but if you stay your status drops considerably. I mean really YOU on here with all the lower class's ???? shame on you

[Kathianne]

I don't need to prove it. You just need to acknowledge that I am smarter and better than you. But if you don't that is ok cause I can understand.
so according to you, you are 'smarter and better that me Go for it. I'm beyond.

[diuretic]

I think your right,john. I just hope he will pound these issues hard enough. Sometimes ,it seems he is trying to hard to be polite.

The hell he is being polite - he's snotty, crotchy crabby and peevish.

Heck I should push him out of the way - I can do all those and then some! :laugh2:

But seriously.......................he is acting like a thorough prick :coffee:

[namvet]

The hell he is being polite - he's snotty, crotchy crabby and peevish.

Heck I should push him out of the way - I can do all those and then some! :laugh2:

But seriously.......................he is acting like a thorough prick :coffee:

I thought all the pricks were "down under" :cool: