Rapmusic.com - View Single Post - Sell the American dream or 50 acres and a mule for 700 billion dollars today...

menaz · 09-26-2008, 02:22 AM

President Carter in 1977 signed the Community Reinvestment Act, which pushed Fannie and Freddie to aggressively lend to minority communities, then Clinton supercharged the process. After entering office in 1993, he extensively rewrote Fannie's and Freddie's rules.

In doing so, he turned the two quasi-private, mortgage-funding firms into a semi-nationalized monopoly that dispensed cash to markets, made loans to large Democratic voting blocs and handed favors, jobs and money to political allies. This potent mix led inevitably to corruption and the Fannie-Freddie collapse. Despite the warnings of trouble at Fannie and Freddie. Then In 1994 Clinton unveiled his National Homeownership Strategy, which broadened the CRA in ways Congress never intended. ie. This whole mess is to blame on government meddling not deregulation. It was Federal Regulation based on Social Engineering beliefs that forced the banks to give loans to people who could not pay them back or face Federal Penalties all derived from DEMOCRATS. They were not bankers, nor did they have a working concept of the financial market, they were a bunch of government bureacrats with “good intentions” looking for votes. Clear and simple. and now the seeds of the poisonous tree they planted has matured, and the people who caused this whold mess in the first place want us to forget that, and take a huge bite.
Fuck that!

There shall be no, FDR New Deal 2. What FDR did was a one-trick pony. He was operating in an environment with vastly more scope for action than the current government has. Since then, the Federal government has hemmed itself in with a combination of laws, regulations, and legal decisions that make federal projects of any scale take decades.
Thus, there shall be no second WPA or TVA.

And Democrats need to stop commiting the broken window fallacy. Stick to what your good at emotionally whining and passing the buck! What we also have here is borrowers making 60 to 25 thousand dollars a year and wall street CEO's both of which are greedy, incompetent, and dishonest. This notion the less well off borrowers aren't to blame is nonsensical. Of course their to blame as well. These doltish borrowers wanted to live out side their means and now I'm suppose to bailout their irresponsibility? What planet are Democrats/paulson living on? Oh That's right, planet emotional drone! And it's also a shame Bush tried appeasing them. Fuck wall street CEO's and these borrowers, I'm not bailing ethier of them out with my tax dollars. However, I'm not a cold hearted prick ethier. So here is what I suggest, There is a way to fix this sticky situation without a soft socialist democrat/Paulson bailout. I think we can fix this situation by utilizing private capital to reverse the bureaucratic socialist meddeling that got us into this pickle in the first place.

Hot Air Blog Archive McCain’s attempt to fix Fannie Mae, Freddie Mac in 2005; Update: Obama can’t get AIG right Hot Air Blog Archive Whose policies led to the credit crisis?
The democrats either blocked or ignored bush and mccain on this preservable looming credit crisis.

The Corner on National Review Online Sorry but, I'm with newt on this one. Get the Politicians Out of the Economy: Recipe for Sound Economic Growth - Blog
Newt telling it like it is.

09-26-2008, 02:22 AM	#5 (permalink)
menaz Avant Garde Join Date: Oct 2004 Location: ST.Louis, Mo. Posts: 16,819	President Carter in 1977 signed the Community Reinvestment Act, which pushed Fannie and Freddie to aggressively lend to minority communities, then Clinton supercharged the process. After entering office in 1993, he extensively rewrote Fannie's and Freddie's rules. In doing so, he turned the two quasi-private, mortgage-funding firms into a semi-nationalized monopoly that dispensed cash to markets, made loans to large Democratic voting blocs and handed favors, jobs and money to political allies. This potent mix led inevitably to corruption and the Fannie-Freddie collapse. Despite the warnings of trouble at Fannie and Freddie. Then In 1994 Clinton unveiled his National Homeownership Strategy, which broadened the CRA in ways Congress never intended. ie. This whole mess is to blame on government meddling not deregulation. It was Federal Regulation based on Social Engineering beliefs that forced the banks to give loans to people who could not pay them back or face Federal Penalties all derived from DEMOCRATS. They were not bankers, nor did they have a working concept of the financial market, they were a bunch of government bureacrats with “good intentions” looking for votes. Clear and simple. and now the seeds of the poisonous tree they planted has matured, and the people who caused this whold mess in the first place want us to forget that, and take a huge bite. Fuck that! There shall be no, FDR New Deal 2. What FDR did was a one-trick pony. He was operating in an environment with vastly more scope for action than the current government has. Since then, the Federal government has hemmed itself in with a combination of laws, regulations, and legal decisions that make federal projects of any scale take decades. Thus, there shall be no second WPA or TVA. And Democrats need to stop commiting the broken window fallacy. Stick to what your good at emotionally whining and passing the buck! What we also have here is borrowers making 60 to 25 thousand dollars a year and wall street CEO's both of which are greedy, incompetent, and dishonest. This notion the less well off borrowers aren't to blame is nonsensical. Of course their to blame as well. These doltish borrowers wanted to live out side their means and now I'm suppose to bailout their irresponsibility? What planet are Democrats/paulson living on? Oh That's right, planet emotional drone! And it's also a shame Bush tried appeasing them. Fuck wall street CEO's and these borrowers, I'm not bailing ethier of them out with my tax dollars. However, I'm not a cold hearted prick ethier. So here is what I suggest, There is a way to fix this sticky situation without a soft socialist democrat/Paulson bailout. I think we can fix this situation by utilizing private capital to reverse the bureaucratic socialist meddeling that got us into this pickle in the first place. Hot Air Blog Archive McCain’s attempt to fix Fannie Mae, Freddie Mac in 2005; Update: Obama can’t get AIG right Hot Air Blog Archive Whose policies led to the credit crisis? The democrats either blocked or ignored bush and mccain on this preservable looming credit crisis. The Corner on National Review Online Sorry but, I'm with newt on this one. Get the Politicians Out of the Economy: Recipe for Sound Economic Growth - Blog Newt telling it like it is. __________________ "Spending for the common good" is not equitable to "spreading the wealth." Taxation for spending for the common good is paying a fee for services rendered. For example, I pay a tax and I get military/police/fire protection, infrastructure improvements, and mail services. Taxation for spreading the wealth is paying a fee for no services rendered. For example, I pay a tax and it goes in the form of a check to someone who pays no taxes.-menaz The Communist Manifesto's second plank is, "A heavy progressive or graduated income tax."-Marx & Engles http://www.reason.tv/roughcut/show/628.htmlJanuary 20th, 2009. A date which will live in infamy. Last edited by menaz; 09-26-2008 at 02:25 AM.