Saw this on another blog....the cause in a nutshell....sm
Posted By: ms on 2008-09-29
In Reply to:
How this meltdown occurred, in a nutshell, point by point.
The link at the bottom is pretty interesting too, for how the government has failed.
The cause, in a nutshell:
1. Congress (under Jimmy Carter) passes a bill making it illegal for banks to “redline” (that is, they can’t ignore poor neighborhoods because that would be discrimination).
2. In 1992, Clinton can’t get elected by saying “Vote for me and I’ll give $250,000 in tax dollars to all poor people so they can buy a house” so he instead says “I feel your pain” to get into office.
3. Clinton changes the rules so that banks are faced with $10,000 fines (or 1% of assets, whichever is less) per-loan-application if they discriminate against the poor. In other words, the government FORCES banks to make bad loans.
4. To soften the load, Clinton reduces the Fannie Mae “reserve requirement” to an astoundingly low 2.5%! (They need to keep only $2.50 in cash for every $100 loaned!) Banks, faced with $10,000 fines, respond by making bad loans and immediately dumping them on Fannie Mae.
5. Clinton rule changes also require banks to count WELFARE CHECKS AND FOOD STAMPS as “income” for loan applications!
6. Senate Democrats demand that Fannie Mae buy more bad loans to “help the poor become homeowners.”
7. Radicals Islamists attack the U.S. on 9/11. To keep the economy from tanking because of the terrorist attack, the Federal Reserve keeps interest rates artifically low - to stimulate the economy. These low interest rates make it even easier for people to get mortgages.
8. Because Fannie Mae is buying up bad loans like candy, banks keep making them.
9. Conservatives see the handwriting on the wall and start complaining.
10. Fannie Mae CEOs James Johnson and Franklin Raines “cook the books” to give themselves, and other former Clinton buddies at Fannie Mae, bigger bonuses.
11. Raines (like, Johnson, later an Obama advisor) is forced to resign and pay back millions.
12. Because many poor people entered the housing market, there are MORE buyers chasing the same number of houses available. That makes prices go up - much faster than the inflation rate. (Duh! If more people want the same house, the seller can charge more!)
13. More conservatives warn Congress of trouble ahead. Barney Frank (D-MA) and other Dems say “Don’t worry, be happy.” Maxine Waters (D-CA) says Republicans are racists for wanting to rein in Fannie Mae to prevent poor blacks from buying houses. Waters praises the crook Franklin Raines.
14. John McCain submits a Fannie Mae reform bill in 2005. Senator Chris Dodd (D-CN) gets his fellow Dems to promptly vote against it; it never leaves his banking committee and thus never gets voted on by the full Senate. Dodd gets a boatload of cash from Fannie Mae for his campaigns, more than any other Senator (Obama is in second place).
15. Everything explodes in 2008.
16. Secretary Paulson (a Democrat) persuades a non-functioning President Bush to go along with a bailout.
17. At a White House meeting, Dems feed their talking points to Obama so he can look good. He screws up, and lambasts the Republicans - angering them enough so that they have no desire to help.
18. Frank, Dodd, Reid, Pelosi blame the Republicans. The media piles on, ignoring the real cause of the crisis, in an effort to elect their socialist pal Obama. They all know the Dems caused the problems, but why burden Americans with the truth?
19. Conservatives in Congress say NO to socialism.
20. Americans say NO to socialism.
21. Democrats say THIS IS CRITICAL, WE MUST ACT! and then take a day off for a Jewish holiday. (Better to risk destroying the economy than lose Jewish votes in November 4.)
22. McCain - foolishly - supports the bailout, reprising his role as the “Democrat-lite” candidate.
23. Sarah Palin will hopefully expose the Dems for their part in the mess during her debate with Biden.
24. Americans are screwed, no matter what happens.
The full details at:
http://colony14.net/id46.html
Complete Discussion Below:  marks the location of current message within thread
The messages you are viewing
are archived/old.
To view latest messages and participate in discussions, select
the boards given in left menu
Other related messages found in our database
In a nutshell....
Globetrotter posts under different names...hence the GT/GW/BW....I have forgotten what the GW was, BW was bookworm...and I think she also posted under the name "foreign policy junkie." The post is too much like her not to be her...unless that person is "channeling" her. That is what John Edwards did in a court case..."channeled" a dead child, meaning acted like the child was speaking through him. I was being facetious. GT/GW/BW knows what I meant. Sorry, did not mean to confuse you.
That is exactly it in a nutshell. I believe that most...sm
people who vote republican do it for "religious reasons" or are people who earn more than $250,000 a year and want to hang onto all of their money. Do they not think God knows they are not giving their full share? Do republicans not think God knows if they are not doing their share to help their fellow man? So much talk about God and Jesus and so little Godlike action. Just my opinion.
What you said, in a nutshell, is how a few men in a
hundreds of people for centuries. They create peer-pressure among their followers, and then let those people (or shall I say - sheep?) do their dirty-work for them.
That's basically it in a nutshell. - sm
It truly doesn't matter. None of it. We citizens lose, no matter what happens.
This is ACORN in a nutshell.....
This is a group that wants more and more people to be dependent on them. The more you depend on them, the less you do for yourself, the more dependent you become on the government.....it's like a snowball effect, and they know exactly what they are doing. LET US THINK FOR YOU should be their motto!!!
http://www.canadafreepress.com/index.php/article/5365
Well said... and here is McCain in a nutshell
McCain's book would say this:
Chapter One:
I am an admiral's son. I was a POW for 5 years. My wife waited for me and I ditched her when I got home for Cindy. A month after my divorce, I married Cindy the botox queen who bobs her head and makes $100 million a year. I don't want to be her little houseboy so I'm trying to be president so she can be proud and I can help all her corporate friends.
I'm skanky and old and I follow what GW Bush says and does, although now that he tanked our country, I'm trying to backpedal on that until after the election. Right now we are trying to figure out how to steal votes in a less sleazy fashion than the past 2 elections. We have the power and we aren't giving it up easily.
My worst idea ever was getting Sarah Palin but I cannot admit mistakes so now I just go and defend her before anyone even opens their mouths. I say ISN'T SHE GREAT, while inside I'm kicking myself. She made me lose long time republicans. I know if I die after hopefully being elected the big bad repubs will impeach her butt in a heartbeat. Speaking of heartbeat, I'm sorry I slobbered and gasped so much during the debate last night. I don't want my supporters to think I'm sick...I was just trying to distract people who were listening to Obie. He is really stealing the show.
I don't know why the Hillary supporters don't like Palin. Do you suppose they aren't as dumb as I'd hoped? I was hoping they would be satisfied with those 2 having as little in common as labia majora and a a vijayjay. Oh well. Can't please everyone.
By the way, did you know Palin's husband belonged to a fringe group that tried to get Alaska to secede from the Union? That will be the grounds to impeach her if I kick the bucket. Oh heck yeah, we good ole boys have it all figured out.
Anyone have a clue why Jackson Brown, Survivor, Heart and all those other bands won't let me use their music? I sure can't ask the Dixie Chicks now can I?
Ain't it a shame how everyone came down on them girls for speaking against Bush when they were 100 percent right? Whoops, well I can say that now that I'm trying to distance myself from the C student whose daddy got him into Yale. But he is a rich boy and I only hang with rich boys.
Let's see now. One more thing. I was brilliant last night with my Joe the Plumber. Good thing nobody found out until after the debate that he was a republican plant. He was on talk radio, the right wing hater shows, even before the debate. Yeah, he was a plant, not just some random thing but haha fooled everyone for a night. Now if I can just fool them until the election.
Peace! I mean WAR. More war more war more war!
Christianity and Politics (in a nutshell)
Okay here is just a generalized reasoning of why most Christians are voting republican.
Obama supports abortion. True Christians who believe that the ENTIRE Bible is the infallible Word of God believe that God gave life and we do not have the right to take it away.
"For you created my inmost being; you knit me together in my mother's womb. I praise you because I am fearfully and wonderfully made; your works are wonderful, I know that full well. My frame was not hidden from you when I was made in the secret place. When I was woven together in the depths of the earth, your eyes saw my unformed body. All the days ordained for me were written in your book before one of them came to be" (Psalm 139:13-16).
"This is what the LORD says—he who made you, who formed you in the womb, and who will help you..."(Isaiah 44:2).
There are a bunch more but those are a few.
Next, Obama supports gay marriage. The Bible tells us that 1) Homosexuality is a sin and 2) Marriage is for one man and one woman.
As I said before, homosexuality is no greater or less a sin than telling a white lie or murder. It is also a forgivable sin. If God thought homosexuality was okay, he would had given us the "parts" to reproduce with other women, or men with other men.
These are the two main issues that we disagree with. Obama is not a true Christian if he can say this is okay.
Now of course if you don't know Jesus as your Savior or you don't believe in the Bible then you're just going to say we are crazy, mean, hateful, etc.
Faith is a gift from God, and without it you simply can't begin to comprehend Him or His Word. He gives faith to those who EARNESTLY seek him.
Just for anyone who was truly interested in knowing why the majority of us are voting Republican. I can pretty much guarantee you if a democratic nominee had these same views we would vote for them, or if an independent had a chance to win and had these views we would vote for them. We don't just blindly affiliate with one party.
Of course, the Hillary blog has the all
knowing truth....give me a break. Before or after she stormed Kosovo under sniper fire? LMAO
For those interested.....here is the blog
http://blogs.abcnews.com/politicalpunch/2008/04/obamas-college.html
Blog cacca is what it is! LOL
LOL
Actually read his blog
I am not for Obama at all but I try not to just listen to things that I hear and take them as fact. I do my own research. if you actually read his blog he states that 20% of the jobs should go to people needing training; poor, minorities and women. There is nothing wrong with trying to give someone a leg up in life. Now I would be hard pressed to agree if he was saying no jobs go to white males but that is not what he is saying. Please people on both sides read, research and reach your own conclusions...don't take someone else's word as gospel on either side.
It is a right-wing blog, sam.
Aren't you the one who always complained about people posting information from blogs? Aren't you the one who dismissed anything posted from blogs as being irrelevant? Can you spell hypocrisy?
demo blog site
http://www.ariannaonline.com/
Also, I reread the post and you did not say that was from another blog.
.
I saw some posts on a blog where someone called him that. sm
It is unfortunate everyone did not get to know his positions better. He is an economics genius and if it is not constitutional he does not vote for it. Personal liberties and freedom appear to be not important to Americans anymore. Perhaps experiencing an economic collapse and maybe martial law will wake them up.
Saw this on a blog, written by a soldier....sm
Apparently written in response to negative posts regarding our country, the election, the republicans, etc. I felt this soldier's viewpoint is very, very important.
I will tell you about America!! I have been a soldier. I have seen American men and women of all RACES and religions that courageously and proudly serve their country. Many of them made the ultimate sacrifice for their country with their lives. I read these comments putting down what these finest of Americans have done It makes me really ANGRY. These people that put our country down have NO appreciation of the freedoms that they have because of the sacrifice of these military heroes!!
I know that in America we have problems and although it has taken along time to fix many of these problems, we still FIX things. That is what Americans do. There have been racial problems but in 1862 there was slavery .A Christian republican president (Lincoln) issued the Emancipation Proclamation that ended the slavery and set our country on the road to racial equality. We are not entirely there yet but we have come a long way. It would have been impossible in years past for a black man like Obama to make 4million dollars a year not to mention actually run for president.
The capitalist system that he is trying to destroy has been really good to him.
I have been around the world and I have seen “civilized” socialist European countries that have a 6o% tax rate on the working class in order to “spread the wealth” and few personal freedoms. I have seen third world countries where one in three babies die due to water born disease. I have also seen American Christian organizations voluntarily drilling wells to help these people survive. I have seen Americans risking their lives to provide medical assistance to people that have no access.
When that enormous tsunami hit Indonesia, Who was there first??? America was there first. American Marines put down their weapons and began digging the out survivors as well as those who didn’t survive. Americans set up water purification units to provide safe drinking water, setting up field hospitals aiding the injured, setting up temporary housing for these victims and food services for the victims. America was there FIRST!!
I have seen countries where the middle class live in filthy squalor, with open sewers and trash in the streets, living under oppressive totalitarian regimes. I have seen communists that plunder, murder, rape and torture the very people that they are supposedly “liberating”.
You people who want to believe that America is so bad really don’t have a realistic view of the world. NOWHERE in the world do people have a higher standard of living due to our capitalist free market system. NOWHERE in the world do people have the personal rights that we have in America. NOBODY in the world puts so much effort in to helping other people, even some that are not very friendly to us. NOBODY matches our humanitarian worldwide efforts. Why do you think that so many people want to get to America????
You people that put America down should really open your eyes and take a good honest look at the rest of the world. You should also question the anti-American rantings of people like Mr. Ayers, Mr. Wright and those associated with them. If these people had spouted this stuff in 90% of
other countries, they would have been thrown in prison or would have wound up in an unmarked shallow grave somewhere. Instead Mr. Wright lives in a 1.2 million dollar home and Mr. Ayers is a professor in a prestigious university.
Again, only in AMERICA…..
WAKE UP AMERICA……WAKE UP!!!!
I COPIED THIS FROM A BLOG, AND APOLOGIZED ONCE. TAKE IT OR LEAVE IT..NM
Short blog from watershed wordpress...sm
Mon 21 Mar 2005
a culture of life?
I don’t know what it is about this Schiavo case that is driving me nuts and pissing me off to no end. It just seems like the epitome of contradictions, hypocrisy and doublespeak. Even beyond the implications for the “sanctity of marriage” and the over 17,000 Iraqis, and over 1500 US soldiers killed in the Iraq War as I ranted about in this post.
There’s a great article in the Washington Post about Bush’s record on life and death here.
Bush on Schiavo: “…we must err on the side of life…”
Bush on Karla Faye Tucker: “Please,” Bush whimpers, his lips pursed in mock desperation, “don’t kill me.”
Let us not forgot Bush oversaw 152 executions while the governor of Texas.
And let’s not forgot about the baby who was taken off of life support against his parent’s wishes, in Texas as a result of a Texas law (passed by none other than our president) that states the hospital can make decisions about the termination of life over the family. (as I post this, Keith Olberman has started talking about the same thing!). You can read about this here (link not in repost).
Wait, I am comparing someone like Terri Schiavo, to a convicted killer like Karla Faye Tucker, to thousands of Iraqis, to US soldiers, and to a little baby? You bet I freakin’ am. Isn’t that what a “culture of life” would be all about?
-------
Nope MT, he has done some things wrong :(
A blog by an Iraqi about his homeland and Democracy. sm
I read this every day until he stopped posting. It's very informative and not something seen in the MSM. There are other links there that are still active.
Linked to a Jewish blog? I assume someone from sm
the conservative board did that. I am opposed to war and weep for all victims of war. My criticism is aimed at the state-nations responsible for them, including my own.
I almost fell off my chair reading that blog. sm
That ad campaign took major cohones to pull off. I have to agree with almost every posting there. I did not vote for it, but then I did not vote for ANY bailout to ANYBODY. So Chrysler basically thumbed their noses at us and there is nothing we can do about it. This emoticon says it all. 
Director's blog at the CBO link inside
http://cboblog.cbo.gov/
Good because I started to copy the blog this morning...sm
And my first instinct told me not to. After reading Lurker's post I thought about the blog, copied it and forgot it had the word in it; it was bad judgement. Will it stop people from judging me - NO. That's the way of the world, so you guys have at it until this is deleted. I'm through.
If you know some good democratic blog sites, please respond to this post with the links. nm
Thanks.
|
