Discussion Groups: Politics

National syndicated columnist Froma Harrop says they're loosening the rules for mortgages once again.

She also says,

"But before going on, let's properly assign blame for the recent financial mess. It was not, as many on the right insist, programs forcing upstanding bankers to lend money to marginally qualified borrowers — read "minorities."

By the late '90s, half of subprime loans were made by mortgage companies not subject to the much-maligned Community Reinvestment Act. And in any case, the George W. Bush administration gutted the CRA regulations in 2004."

[www.creators.com]

did you forget bill Clinton?

Oh, Clinton did it? Not Phil Gramm sneaking in the abolition of Glass-Steagall in the final Omnibus bill of 1999? And it wasn't Clinton who made the statement "Just because someone has substandard credit doesn't mean they have to live in a substandard home". George W said that in 2003 just days before more regulations were lifted no longer requiring credit or salary verifications on mortgages. That's why we have regulations!! Republicans want less regulations so that businesses can do whatever they wish without responsibility.

Bear in mind that working people's wages have been stagnant for nearly 30 years. In the early 2000s, instead of getting higher wages, working folks got easy credit to buy bigger homes or to refi and remodel. That's fine as long as the economy is good. But when it goes bad, who loses their jobs first labor or management? Now the worker has no job and an even bigger mortgage. So then Bush bails out the banks and leaves millions of people on welfare, food stamps, unemployment comp and living out of their cars. And Republicans have the incredible audacity to blame Obama for so many folks getting assistance and malign his saving the millions of American jobs in the auto industry. Obama was right.

By the way, by not getting rid of them and with the return of the housing market, Fannie and Freddie are now hugely successful and are making millions upon millions of dollars for the government. Once again Obama was right and the GOP was (is) wrong.

so both parties screwed up.

in my opinion when Obama got elected, the economy should have been the number one priority. it wasn't. Obama care was. that still took a year, even controlling both houses of congress.

here we are seven years later. many people are no better off today. some are worse off.

why do we keep electing these politicians?




BobC Wrote:
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> Oh, Clinton did it? Not Phil Gramm sneaking in
> the abolition of Glass-Steagall in the final
> Omnibus bill of 1999? And it wasn't Clinton who
> made the statement "Just because someone has
> substandard credit doesn't mean they have to live
> in a substandard home". George W said that in 2003
> just days before more regulations were lifted no
> longer requiring credit or salary verifications on
> mortgages. That's why we have regulations!!
> Republicans want less regulations so that
> businesses can do whatever they wish without
> responsibility.
>
> Bear in mind that working people's wages have been
> stagnant for nearly 30 years. In the early 2000s,
> instead of getting higher wages, working folks got
> easy credit to buy bigger homes or to refi and
> remodel. That's fine as long as the economy is
> good. But when it goes bad, who loses their jobs
> first labor or management? Now the worker has no
> job and an even bigger mortgage. So then Bush
> bails out the banks and leaves millions of people
> on welfare, food stamps, unemployment comp and
> living out of their cars. And Republicans have
> the incredible audacity to blame Obama for so many
> folks getting assistance and malign his saving the
> millions of American jobs in the auto industry.
> Obama was right.
>
> By the way, by not getting rid of them and with
> the return of the housing market, Fannie and
> Freddie are now hugely successful and are making
> millions upon millions of dollars for the
> government. Once again Obama was right and the
> GOP was (is) wrong.

ront Wrote:
-------------------------------------------------------

> why do we keep electing these politicians?

Now we may get the chance to elect a non-politician for pres. with Trump and Carson in the race.

one of the most interesting elections in my lifetime.



Barbrady Wrote:
-------------------------------------------------------
> ront Wrote:
> --------------------------------------------------
> -----
>
> > why do we keep electing these politicians?
>
> Now we may get the chance to elect a
> non-politician for pres. with Trump and Carson in
> the race.

I agree with this. Fannie and Freddie Must Go. They should take a sudden change. It is relevant for a change. If you need a drastic change in your life you can select the best entertainment website. There you can see lots of entertainment programs to enjoy your life.

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