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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (50673)	10/8/2008 7:10:12 AM
From: lorne	1 Recommendation Read Replies (1) \| Respond to of 224704

ken..."My reaction is which mortgages will be bailed out of trouble? If you start doing this, you create an incentive for people to default"..... So when democrats forced banks to bend the rules to allow people to purchase homes they could not afford and then aggressively push these mortgages on people did they create an incentive to default?????????????? Democrats took advantage of innocent people who were not aware of banking procedures to further their own sick commie agenda. Lets now hope that these same people who were taken advantage of understand what democrats did to them and extract revenge. Of course McCain's plan to help these people is the way to go... better to help them than Wall street and the democrat thieves at fannie. This democratic party is sounding more and more like a religious cult than a political party..lie, cheat anything is ok with them as long as it furthers their sick agenda.

To: Kenneth E. Phillipps who wrote (50673)	10/8/2008 8:04:13 AM
From: lorne	1 Recommendation Respond to of 224704

Ken...good grief even CNN may be starting to see the error of their ways and are getting a bit more truthful about hussein obama..all of this MUST be true ...it's from CNN. CNN: Extensive ties between Obama and Ayers 'Now it turns out, one of his earliest supporters is a man named Bill Ayers' --Breitbart CNN's Drew Griffin on links between Barack Obama and a founder of the 1960s terror group Weather Underground, Bill Ayers.Video breitbart.tv

To: Kenneth E. Phillipps who wrote (50673)	10/8/2008 8:33:06 AM
From: lorne	1 Recommendation Read Replies (1) \| Respond to of 224704

ken...this is from CBS? (CBS) CBS News Investigative Producer Laura Strickler wrote this story for CBSNews.com with additional reporting from Sarah Fitzpatrick and Ariel Bashi. More Bogus Obama Donors Surface Donations Made Between July and Early August Oct. 6, 2008 cbsnews.com -------------------------------------------------------------------------------- CBS News has learned that two donors to the Obama campaign that gave a total of $7,722 appear to have made their contributions under fake names that look like they were written by a mouse running across a keyboard: Dahsudhu Hdusahfd of Df, Hawaii with the following employer CZXVC/ZXVZXV and Uadhshgu Hduadh listed as living in Dhff, Florida listed their employer as DASADA/SAFASF. CBS News did not find any records of these last names, towns or employers anywhere else. Newsweek reported two questionable Obama donors over the weekend named “Doodad Pro” and “Good Will”. Contributions from the two donors Hdusahfd and Hduadh were made on the same day starting on July 16, 2008. Federal Election Commission (FEC) records show the campaign began refunding the donations as early as August 6, 2008. Despite numerous refunds from the Obama campaign, Hdusahfd still has a record of giving a total of $7500 to Obama which is well over the legal limit for the primary and general election of $4600. Hduadh gave $14,200 but the Obama campaign returned all but $222.00. The Obama campaign says “out of an abundance of caution” all of these donations are in the process of being returned. Obama spokesperson Bill Burton sent CBS News the following email statement, “We constantly review our donors for any issues and while no organization is completely protected from internet fraud, we will continue to review our fundraising procedures to ensure that we are taking every available step to root-out improper contributions.” Burton pointed to Harry Sargeant, one of McCain’s donors who is now the subject of a Congressional investigation. McCain returned $50,000 to Sargeant in early August. The Republican National Committee (RNC) has asked the FEC to look into foreign donations to the Obama campaign. The FEC told CBS News they would not comment on the RNC’s complaint. Other donors who gave over the legal limit to the Obama campaign contacted by CBS News said their money was refunded promptly by the campaign. Of those who spoke to CBS News, it seems their only mistake was that of enthusiasm. Felicity Nitz, 60, of Brooklyn says she kept on clicking on Obama’s online fundraising appeals, “I just kept punching it when I got the emails,” she said, “I’m an insane supporter.” Christian Skeem from Chicago says he got a letter back from the campaign with a check, “I couldn’t give them more than the limit because they kept sending it back, it wasn’t like they weren’t on the ball.” The reason he gave so much? “Cause I’m a fan,” he said.

To: Kenneth E. Phillipps who wrote (50673)	10/8/2008 1:12:21 PM
From: DizzyG	1 Recommendation Respond to of 224704

No Kenneth, this is what created an incentive for default... Please note the date: Fannie Mae Eases Credit To Aid Mortgage Lending September 30, 1999 By STEVEN A. HOLMES In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders. The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring. Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits. In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans. ''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.'' Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market. In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's. ''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.'' Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped. Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings. Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites. Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent. In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent. Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings. In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups. The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants. query.nytimes.com

To: Kenneth E. Phillipps who wrote (50673)	10/8/2008 5:05:56 PM
From: Neeka	5 Recommendations Read Replies (2) \| Respond to of 224704

Thanks to the likes of Reid, Pelosi, Frank, Watts etc....the American economy is a free for all grab bank and why shouldn't every single home owner with a mortgage be helped? After all.........they constantly chanted "fair" "fair" "fair", and now we all want our share of "fairness." Explain why my son shouldn't get a govt handout. Go ahead........explain that to him! Why is he treated differently than a dead beat mortgage holder? Explain to it to him..........how is that "fair?"