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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: pompsander who wrote (8397)	3/5/2009 2:46:01 PM
From: longnshort	Respond to of 103300

Bush beat Gore, so it does translate to votes

To: pompsander who wrote (8397)	3/5/2009 2:47:25 PM
From: Wayners	Read Replies (1) \| Respond to of 103300

The Republicans need to kick a lot of people out of their party back to the Democratic party where they belong. The Republicans need to adopt much more Libertarian values.

To: pompsander who wrote (8397)	3/5/2009 3:30:37 PM
From: Wayners	Read Replies (2) \| Respond to of 103300

Here is what one guy wrote: Congress is trying to make Americans believe that this economic mess started with President Bush. Here is the truth... Jimmy Carter's Community Reinvestment Act (CRA) forced banks to lend to borrowers who the lenders knew could not pay the loan back. With this idiotic bill lenders HAD to give loans to these unvetted borrowers and lenders were urged (forced) to especially give loans to minorities. Clinton, during his years as president, urged these loans to be given, even the the republicans in Congress warned against this in 1992. Clinton made changes to the bill that required lenders to make these loans, knowing the people could not pay them back. Banks and mortgage lenders who didn't listen to Clinton were viewed as racists. If they did not lend to these people who could not pay back the loans, then it was possible the lending institutions would not be allowed to expand their lending, merge with another company or build branches in other areas. In 1993 Eugene A. Ludwig, chairman and chief executive officer of Promontory Interfinancial Network, and former U.S. Comptroller of the Currency, while working for Clinton, told the Senate Banking Committee "We have to use every means at our disposal to end discrimination and to end it as quickly as possible." The lending institutions had a CRA (community reinvestment act) rating. These ratings would show if the lenders were being "Fair" to minorities and giving loans. Then the government created Fannie Mae and Freddie Mac would finance everything by purchasing all these risky loans from banks, then they would check them over, repackage them if necessary and make them commodites, being put out on the open market. With this, subprime loans were given and hence the spiraling down of the housing market in our country and in general this economic mess we're in. Lenders that were forced to give homes to these borrowers now had millions of foreclosures because these borrowers, who they knew couldn't pay loans back at the time they gave the loans, DIDN'T pay their loans back. Barney Frank lied about what was going on with Fannie and Freddie, saying everything was fine. Barney, in the meantime, was involved with a top guy at Freddie, so he wasn't going to do anything to hurt his lover or force more oversight. Guess what, the leftist media will never let the people know the truth. Bush had nothing to do with any of this economic crisis or the Republicans. In 2003 Bush tried frantically to reign in Fannie and Freddie so that this crisis wouldn't happen. Bush tried to stop this, but the democrats in Congress said no. Barney Frank even went on the record to say that Fannie and Freddie are not facing any kind of financial crisis. At that time he was the top ranking Democrat on the Financial Services Committee (FSC). In 2005 John McCain cosponsored a bill to make these agencies more transparent and to have more regulation. McCain said "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole." This is on the record as to what he said. So it is very obvious who is in the middle of this economic crisis and it sure isn't President Bush or the republicans and definitely not McCain.