Our President..

[littlesteppers]

Why is EVERYBODY blaming Presidnt bush for the HUGE deficit..do your research on when it all started and the roll of our NOW democratic congress!

 

[Jill]

Great insight and advice, Christine!!!

Too many people just go with what is spoon fed, and don't stand back and THINK.

Yesterday or the day before, I heard a study that most people get their political information from the political ads that run

Good post!!!

 

[whitney]

littlesteppers could you just post the research here and save me the trouble. Thanks

 

[littlesteppers]

littlesteppers could you just post the research here and save me the trouble. Thanks

Well I could But I really didn't research it..IKNOW..because I choose to stay informed..Now if you want I can research for you.

http://www.heritage.org/research/budget/bg2081.cfm

 

[CrescentMinis]

Whitney, this article is helpful.

http://www.ibdeditorials.com/IBDArticles.a...306544845091102

 

[Jill]

That's exactly right, Christine. If you stay up with things and pay attention to what is happening all along, you don't have to dig up research of what happened -- you SAW it happening...

 

[whitney]

Thanks for the links I've read both.

Being on the ground level of the mortgage problem I can tell you from personal experience that its not the president or the congress that caused this mess it's unscrupulous loaning institutions.

This is what happened, appraisers are hired by the bank to "value" the home. Appraisers WERE in the banks pocket. Whatever value the bank "needed" is surprisingly what the home appraised for, these homes were not worth what the bank wrote the note for. Banks with their "adjustable" rate mortgages loaned money to those that could BARELY make the house payment BEFORE the interest rates went up ie. FORECLOSURES on houses not worth the loan amount, which bit Fannie and Freddy because they buy the MAJORITY of mortgages without any verification of worth.

One good thing, at least in Michigan, is Appraisals/Appasiers are under the microscope and new regulations have put the bad ones out of business.

For those that want less government regulations how do you propose to keep these loaning institutions from doing this again?

 

[Jill]

Anyone listening to McCain now in WI? Some tremendously good economic plans are being explained.

 

[littlesteppers]

My ritual in the morning is to check ALL the major newspapers headlines and read up on BOTH candidates..now this morning I am in a pickle..NO headlines for Obama..usually its 3 out of 4..what happened??

 

[Cathy_H]

I can tell you from personal experience that its not the president or the congress that caused this mess it's unscrupulous loaning institutions.

............................ Yes but were't the loaning institutions ordered to make loans more affordable and easier for those who could NOT afford to buy houses??? I heard Rush Limbaugh say that loans were given to people who had no jobs and no way of making the payments thus ending in foreclosure....... Multipy this many, MANY, many times over & fast forward to the present day crisis. The lending institutions were doing what they were told to do by those who make the rules and the law makers are pointing fingers at everyone else......

..............

........................................ Ticks me off as Lee & I are trying to sell our property and have had to reduce it to below market value and still no contract. All because of the flooded market of foreclosures and now hard to get loans for the responsible home buyers.................... We have worked hard, served our Country with 21 years in the military ( including the Vietnam War

) and slowly accumulated what we have today.... We are responsible & accountable for our actions but we are now being made to be accountable & responsible for IRRESPONSIBLE people also.

Lee and I and ALL OF YOU are now going to have to pay for these financial crimes created by all of those who are NOT being held accountable!!!

 

[littlesteppers]

Like I noted before..there where even Ninja loans out..NO JOB NO assets..it was just a matter of time..it basicly worked like this..a Banker gave a loan to a person..this banker KNEW the person could NOT afford the loan..why did he give it than? He gets a commison..NOW the loan was Sold..so the bank sits pretty and got rid of the risk..the buyer of this loan (sub mortgage) did the same thing..playing musical chairs with loans..until somebody got stuck and the whole house of cards collapsed!

 

[littlesteppers]

The stench from this hypocrisy is overwhelming. Reid, Pelosi, Barack Obama, and every Democrat who could bitterly cling to a microphone over the last four days has spewed invective at the Bush administration, blaming the credit-market meltdown on Bush’s policies. Now, at the height of the crisis, not only do the Democrats admit they haven’t a clue as to how to address it, to whom do they turn to solve it?

The Bush administration! After all, Henry Paulson serves on the Bush administration Cabinet, and has been Bush’s Treasury Secretary for over two years. In fact, Paulson was one of the CEOs that Democrats love to demonize, having run Goldman Sachs for years at salaries over $15 million a year for the two years prior to his appointment. Joe Biden just got done blaming the meltdown on people like Paulson. Now Democrats want him to rescue America.

First Pelosi adjourns the House in the middle of an energy supply crisis that hammered the working class with sharp hikes in fuel and food costs. Now both Pelosi and Reid want to adjourn both chambers of Congress rather than deal with the credit crisis that Washington created with its heavy-handed mandates to issue credit to marginally qualified borrowers and lack of oversight over government-guaranteed entities. Given their ineptitude, we probably should be grateful — as Bloomberg notes. But considering their rhetoric over the last few days, their retreat may be one of the most cowardly acts in domestic policy seen in a very long time.

 

[Jill]

"A group called the Center for Responsive Politics keeps track of which politicians get Fannie and Freddie political contributions. The top three U.S. senators getting big Fannie and Freddie political bucks were Democrats and No. 2 is Sen. Barack Obama."

"Fannie and Freddie have also been places for big Washington Democrats to go to work in the semi-private sector and pocket millions. The Clinton administration's White House Budget Director Franklin Raines ran Fannie and collected $50 million. Jamie Gorelick — Clinton Justice Department official — worked for Fannie and took home $26 million. Big Democrat Jim Johnson, recently on Obama's VP search committee, has hauled in millions from his Fannie Mae CEO job."

http://www.foxnews.com/story/0,2933,423701,00.html

also see: http://www.opensecrets.org/news/2008/07/to...s-of-fanni.html

 

[littlesteppers]

"A group called the Center for Responsive Politics keeps track of which politicians get Fannie and Freddie political contributions. The top three U.S. senators getting big Fannie and Freddie political bucks were Democrats and No. 2 is Sen. Barack Obama."
"Fannie and Freddie have also been places for big Washington Democrats to go to work in the semi-private sector and pocket millions. The Clinton administration's White House Budget Director Franklin Raines ran Fannie and collected $50 million. Jamie Gorelick — Clinton Justice Department official — worked for Fannie and took home $26 million. Big Democrat Jim Johnson, recently on Obama's VP search committee, has hauled in millions from his Fannie Mae CEO job."

http://www.foxnews.com/story/0,2933,423701,00.html

also see: http://www.opensecrets.org/news/2008/07/to...s-of-fanni.html

YUP..exactly right..you don't want to ask me on MY therory...or maybe you would??

 

[OhHorsePee]

YUP..exactly right..you don't want to ask me on MY therory...or maybe you would??

Why I would love to hear it!

There are some very informative and truthful posts on this thread.

It's very nice to be able to discuss matters and share true facts.

Fran

 

[whitney]

Its very hard to get open debate on issues. i.e. Rep/Demo labels, and the ever entertaining blame game. My question is this, did the blame game ever get us ANYWHERE, its a waste of time and brain cells that could be better utilized in solutions.

Lets talk solutions.........................................

In my opinion NO ONE forced the lending institutions to these practices but the almighty dollar.

 

[Jill]

Lets talk solutions.........................................

McCain / Palin are the solution.

We talk and talk here and normal it boils down to an argument between with people who have paid attention to what goes on and people who don't pay attention to what goes on (both types on both sides). People should really start paying attention to the news and watch a source that covers both sides. The choice and who is best able to handle the problems really becomes crystal clear when you're well informed.

 

[littlesteppers]

Its very hard to get open debate on issues. i.e. Rep/Demo labels, and the ever entertaining blame game. My question is this, did the blame game ever get us ANYWHERE, its a waste of time and brain cells that could be better utilized in solutions.
Lets talk solutions.........................................

In my opinion NO ONE forced the lending institutions to these practices but the almighty dollar.

Its not a blame game..in order to find a salution..you need to identfy the CAUSE

 

[Laura]

Whitney,

I'd love to talk solutions, but that isn't what this whole thread is about

 

[whitney]

Ok, What is the cause? And please don't used the words this republican or that democrat it's just not that simplistic.

Jill, if your relying on TV and newspapers to become "informed" unbiased is not in their vocabulary they are MONEY making enterprises (that's what runs our country literally) they want to sell papers, garner ad time, so they SPIN to the candidate that best benefits the entity.

I would LOVE to find a site that just lists the legislation verbage and the vote PERIOD.

And to stay informed you just have to live in America, the information hits you on a DAILY basis.