Clinton admiting the Democrats are to blame.

[IFBBwannaB]

Clinton admittance:

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A committee that investigated Fannie , the Republicans warning and demanding more regulations on Fannie and the Democrats defending them :

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Obama talking about his part in forcing banks to make shitty loans:

Fannie CEO speaking to "The Family" which includes Obama there:

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Need more....ohh...I know...this thread will get no reply because the Democrats aren't into evidence 

[IFBBwannaB]

Barack Obama - St. Louis Missouri, Oct. 18, 2008

Big surprise that you respond here and not to the video of Hussein talking about his involvement from top to bottom in this loan BS.

[IFBBwannaB]

Bump for the truth and for Obama admitting his involvement .....where are the Democrat takers on this thread 

[garebear]

Big surprise that you respond here and not to the video of Hussein talking about his involvement from top to bottom in this loan BS.

Who are voting for, Obama?

[garebear]

I don't understand this sudden, negative attitude towards Obama.

I could have sworn you said, just yesterday, that you would vote for him.

Come on, man, be consistent.

[drkaje]

They're all responsible.

Stop grasping at straws and deal with your real issue.

[IFBBwannaB]

They're all responsible.

Stop grasping at straws and deal with your real issue.

I thought the crisis was the real issue....the one Clinton your great mentor for economic says the Democrats created...wow...talk about ignoring facts.

Have you actually seen the committee footage...or the footage of Hussein bragging how he helped in getting affordable loans for people? I'm sure you didn't, and if you did and still say that....I pity you 

[drkaje]

I thought the crisis was the real issue....the one Clinton your great mentor for economic says the Democrats created...wow...talk about ignoring facts.

Have you actually seen the committee footage...or the footage of Hussein bragging how he helped in getting affordable loans for people? I'm sure you didn't, and if you did and still say that....I pity you 

The banking crisis will probably get much worse no matter who is president.

The banks were greedy and without ARMs some of those people would have been fine. Aside from that few, most of those loans should have never been written. Mortgages are a very small part of the problem, around 6%. All of those loans could be purchased for $100B.

He sucks a little less than McCain. If you want to be in Iran eventually and end up with a draft go right ahead and vote for McCain.

[garebear]

So, who is it, flip flopper?

McCain or Obama?

[IFBBwannaB]

The banking crisis will probably get much worse no matter who is president.

The banks were greedy and without ARMs some of those people would have been fine. Aside from that few, most of those loans should have never been written. Mortgages are a very small part of the problem, around 6%. All of those loans could be purchased for $100B.

He sucks a little less than McCain. If you want to be in Iran eventually and end up with a draft go right ahead and vote for McCain.

Wrong, the loans started the BS and the lack of regulation made it so big. Actually Obama himself explains it on the video...I guess you can't stand to see videos that are against your goal.

Now please tell me how the Republicans were pro loans or against more regulation 
Thank god there is a video of the committee speaking directly on that.

Thanks for playing, but you lost 

[George Whorewell]

Racism!

[Option D]

Wrong, the loans started the BS and the lack of regulation made it so big. Actually Obama himself explains it on the video...I guess you can't stand to see videos that are against your goal.

Now please tell me how the Republicans were pro loans or against more regulation 

Shittin me right...What is the Main issue for repubs...Government Involvment...Lack of regulation is A GOP stance...

[IFBBwannaB]

Shittin me right...What is the Main issue for repubs...Government Involvment...Lack of regulation is A GOP stance...

Now that's political rasicm sir, watch the committee video and tell me they didn't specifically said they want more regulation on Fannie....hard to argue with proof mister.

That's the difference, Republicans look at a subject and decide unlike the Democrats who keep the same general direction no matter what.

[Decker]

I can't watch the video at work.

Freddie/Fannie did not create the subprime implosion.

That's a fact.

Anyone stating otherwise is wrong.

Here's a report that lays out the causes of this mortgage mess:
http://www.newyorkfed.org/research/staff_reports/sr318.pdf

The study identifies five causes of the subprime meltdown:
-Convoluted loan products that consumers didn’t understand.
-Credit ratings that didn’t do a good job highlighting the risks contained in subprime-backed securities.
-Lack of incentives for institutional investors to do their own research (they just relied on the credit ratings).
-Predatory lending and borrowing (which I think means fraud perpetrated by borrowers).
-Significant errors in the models used by credit rating agencies to assess subprime-backed securities.

Anyone still blaming this mess on Freddie/Fannie is wrong.  Flat out wrong.

[IFBBwannaB]

I can't watch the video at work.

Freddie/Fannie did not create the subprime implosion.

That's a fact.

Anyone stating otherwise is wrong.

Here's a report that lays out the causes of this mortgage mess:
http://www.newyorkfed.org/research/staff_reports/sr318.pdf

The study identifies five causes of the subprime meltdown:
-Convoluted loan products that consumers didn’t understand.
-Credit ratings that didn’t do a good job highlighting the risks contained in subprime-backed securities.
-Lack of incentives for institutional investors to do their own research (they just relied on the credit ratings).
-Predatory lending and borrowing (which I think means fraud perpetrated by borrowers).
-Significant errors in the models used by credit rating agencies to assess subprime-backed securities.

Anyone still blaming this mess on Freddie/Fannie is wrong.  Flat out wrong.

I'm blaming Democrats for taking a lacking situation and pushing these companies into doing this to the extent they didn't want, forcing them do "affirmative loaning" lol.

Furthermore resistance lead by Democrats to counter the Republicans requests for more regulation and oversight over this whole mess.

[Decker]

I'm blaming Democrats for taking a lacking situation and pushing these companies into doing this to the extent they didn't want, forcing them do "affirmative loaning" lol.

Furthermore resistance lead by Democrats to counter the Republicans requests for more regulation and oversight over this whole mess.

Do the Freddie/Fannie Mae loan programs circumvent Fair Lending and Anti-predatory lending laws?  I didn't think so.

If Freddie and Fannie are the cause of the meltdown, why are they getting such a small portion of the bailout money?

"Start with the most basic fact of all: virtually none of the $1.5 trillion of cratering subprime mortgages were backed by Fannie or Freddie. That’s right — most subprime mortgages did not meet Fannie or Freddie’s strict lending standards. All those no money down, no interest for a year, low teaser rate loans? All the loans made without checking a borrower’s income or employment history? All made in the private sector, without any support from Fannie and Freddie."

"It’s certainly fair to criticize Fannie and Freddie over real issues that contributed to their downfall. The companies had numerous accounting problems and inadequate safeguards covering their own investment portfolios. Those weaknesses came home to roost when the real estate market cratered. Fannie and Freddie purchased billions of dollars of subprime-backed securities for their own investment portfolios and got hit just like every other investor. But it’s some kind of crazy, politically inspired CYA to blame for the mess we’re in."

http://www.businessweek.com/investing/insights/blog/archives/2008/09/fannie_mae_and.html


Sorry for the quotes.  I try to paraphrase but today work is keeping me from posting. 

[garebear]

I'm blaming Democrats for taking a lacking situation and pushing these companies into doing this to the extent they didn't want, forcing them do "affirmative loaning" lol.

Furthermore resistance lead by Democrats to counter the Republicans requests for more regulation and oversight over this whole mess.

I don't know, man. You always say you are voting for Obama but then you talk him down.

I just don't get you, dude.