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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (32977)	2/19/2009 2:57:55 PM
From: TimF	Read Replies (1) \| Respond to of 71588

Greenspan deserves blame, but there is a lot of blame to go around, I wouldn't put it on any one person, institution, or idea.

To: Steve Lokness who wrote (32977)	3/1/2009 1:32:01 PM
From: Peter Dierks	Read Replies (2) \| Respond to of 71588

To try and blame the housing mess on Carter is a canard. It was the Carter era CRA on steroids after Clinton signed the bill into law creating liar loans that really gave the CRA the teeth to bite our economy. As I wrote, there are plenty of whipping posts to go around. I read you post and you see many aspects of the problem. You seem to want not to blame the lending mess on the cause of weak lending practices, just weak lending practices. Who predicted the edge of depression we are now on the edge of? The same people who predicted the great depression of 29. I wasn't around then. We will see if we slip into a depression. Obama is doing his best to ensure we do. Obama as Hoover, interesting thought. The blame belongs to the sycophant Greenspan Alan Greenspan certainly played a role in the problem. He was playing the part of Maestro and began to believe he was one. You can't have a serious housing bubble without weak lending practices. Certainly we could have had a bubble, but not like we did. Add the out of control Fannie and Freddie that were reliably throwing off democrat donations to ensure to remain unregulated. Fannie and Freddie bundled low quality liar loans and called them investment grade. Iraq (while taking his eye off the ball in Afghanistan) I see you can repeat democrat talking points. I decline to give you and bonus credit for it though. I hope we can agree that the edge of the abyss of terror that Clinton left the country in after taking his eye off the terror ball required a dramatic shift in resources and attention. President Bush deserves credit for doing a great job of restoring the country on a posture of fighting terror rather than retreating every time they attacked us as we had under Clinton. Obama deserves our support to find a solution and YES, he will make mistakes. I have talked to exactly one person who voted for Obama that has not said something like, "this is not the change I voted for." I hope you agree that his radical agenda is not appropriate for America. Certainly you must agree that his 1.55 Trillion Dollar spending spree in his first month will fat track us to bankruptcy. The economic downturn Is made worse by every misstep Obama makes. He inherited a recession and is working diligently to make it a depression. We cannot afford Obama. There is no fix for housing until people are put back to work. That is what the stimulus plan is all about. Porkulus is about rewarding every democrat pork wet dream they have been thwarted on for the last twenty years. There is no there, there. It is the fast track to a bankrupt America. With job losses increasing exponentially, we better come up with something to put people to work or our Country is down the toilet. Increasing government spending is a great way to do the opposite. Tax cuts got us out of the recession of the eighties and worked again to spur recovery from the Clinton recession. So now you want to try the same failed policies that made LBJ unreelectable? I am not seeing it. He gets my support Just like you supported President Bush, you can expect me to support Obama. Nada. Democrats hoped and prayed President Bush would fail in Iraq. Harry Reid said it had failed. The absolute treason of democrats has made me very sour to anything these same people say. The entire democrat party tried to depress the economy all last year in hopes of gaining power. Now you want those who built America to support the destruction of it. We cannot afford Obama.

To: Steve Lokness who wrote (32977)	3/2/2009 10:06:53 AM
From: Peter Dierks	Read Replies (1) \| Respond to of 71588

Democrats Behind CRA Cover-Up by Ernest Istook 10/15/2008 As always, it’s the cover-up that sinks people. Liberals are working overtime to cover up their role in the mortgage meltdown. Not only did they block attempts to reform Government Sponsored Enterprises (GSEs) such as Fannie Mae and Freddie Mac before they could drag down our economy, but liberals also abused the Community Reinvestment Act (CRA), turning it into a vehicle for directing loans to unqualified homebuyers. The left knows that whoever shapes public understanding of what caused today’s economic crisis can shape America’s politics -- and its future -- for a great many years to come. Thus, they’re pushing the notion that too little government regulation was at fault. If the country buys this idea, liberals can enact a carbon-copy of FDR’s response to the Great Depression, building a larger, more activist and ever-more-controlling federal government. They can exploit the mess by establishing a conventional wisdom that more government is the solution, rather than understanding how big government is a root cause of the current financial meltdown. Claiming it all sprung from a lack of regulation is a half-truth, and a Yiddish proverb says a half truth is a whole lie. ... ...“For 1996, the Department of Housing and Urban Development (HUD) gave Fannie and Freddie an explicit target -- 42 percent of their mortgage financing had to go to borrowers with income below the median in their area. The target increased to 50 percent in 2000 and 52 percent in 2005. ... humanevents.com