[LH] Barack Obama

[JeffIllinois]

Former Bush HUD chief Alfonso Jackson helped cause this economic crisis:

"In late 2006, as economists warned of an imminent housing market collapse, housing Secretary Alphonso Jackson repeatedly insisted that the mounting wave of mortgage failures was a short-term "correction."

He pushed for legislation that would make it easier for federally backed lenders to make mortgage loans to risky borrowers who put less money down. He issued a rule that was criticized by law enforcement authorities because it could increase the difficulty of detecting and proving mortgage fraud.

As Jackson leaves office this week, much of the attention on his tenure has been focused on investigations into whether his agency directed housing contracts to his friends and political allies. But critics say an equally significant legacy of his four years as the nation's top housing officer was gross inattention to the looming housing crisis."

This is from the Washington Post, in April 2008. Here is the article:

http://www.washingtonpost.com/wp-dy...ST2008041202580.html?nav=rss_email/components

 

[JeffIllinois]

I noticed something odd with McCain's left eye yesterday when he was announcing his campaign "suspension" and wiimping out of the debate. I googled "McCain's left eye" and found a lot of other people had noticed the same thing. Maybe McCain recently had a small stroke, or he has Bells Palsey. This would explain why he's backing out of the debate. Also, he's recently hired a five thousand dollar a week Hollywood makeup artist, maybe to hide a new outbreak of melanoma. He's had melanoma four times already. This is a scary proposition, consider President Palin. His medical records were never fully released. Here's a blog with comments, a lot of people have noticed this:

http://www.americablog.com/2008/09/draft-anybody-else-notice-anything.html

 

[JeffIllinois]

This editorial from Eliot Spitzer in the Washington Post from February 2008 goes a long way towards explaining how this financial crisis came about. Hooker scandals aside, Spitzer and the other Attorney General's from all fifty states tried to crack down on predatory lending. The Bush administration took extraordinary steps to stop them:

"Predatory lending was widely understood to present a looming national crisis. This threat was so clear that as New York attorney general, I joined with colleagues in the other 49 states in attempting to fill the void left by the federal government. Individually, and together, state attorneys general of both parties brought litigation or entered into settlements with many subprime lenders that were engaged in predatory lending practices. Several state legislatures, including New York's, enacted laws aimed at curbing such practices.

What did the Bush administration do in response? Did it reverse course and decide to take action to halt this burgeoning scourge? As Americans are now painfully aware, with hundreds of thousands of homeowners facing foreclosure and our markets reeling, the answer is a resounding no.

Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye.

Let me explain: The administration accomplished this feat through an obscure federal agency called the Office of the Comptroller of the Currency (OCC). The OCC has been in existence since the Civil War. Its mission is to ensure the fiscal soundness of national banks. For 140 years, the OCC examined the books of national banks to make sure they were balanced, an important but uncontroversial function. But a few years ago, for the first time in its history, the OCC was used as a tool against consumers.

In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative. The OCC also promulgated new rules that prevented states from enforcing any of their own consumer protection laws against national banks. The federal government's actions were so egregious and so unprecedented that all 50 state attorneys general, and all 50 state banking superintendents, actively fought the new rules.

But the unanimous opposition of the 50 states did not deter, or even slow, the Bush administration in its goal of protecting the banks. In fact, when my office opened an investigation of possible discrimination in mortgage lending by a number of banks, the OCC filed a federal lawsuit to stop the investigation."

Yeah, Spitzer has been discredited, but this doesn't change what the Bush administration did. Here's the link to the editorial:

http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021302783.html

 

[dutchking]

A mod should lock this thread.

Bernie, your pissing contest needs to come to an end. You're thick beyond belief, and everything you say is 100% wrong. Go back to where you came from or don't vote. I don't give a crap how racist or cold that sounds. I don't like people who are so stupid that they'll destroy the country which I care about so much (in reference to Conservatives).

That said, it's not worth getting in arguments with idiots. They'll brow beat you until you sink to their level, I suggest to all of my homies (as Garret Says it) to ignore any future posts made in this thread, or you'll be fighting for months on end.

 

[GarretSidzaka]

A mod should lock this thread.

Bernie, your pissing contest needs to come to an end. You're thick beyond belief, and everything you say is 100% wrong. Go back to where you came from or don't vote. I don't give a crap how racist or cold that sounds. I don't like people who are so stupid that they'll destroy the country which I care about so much (in reference to Conservatives).

That said, it's not worth getting in arguments with idiots. They'll brow beat you until you sink to their level, I suggest to all of my homies (as Garret Says it) to ignore any future posts made in this thread, or you'll be fighting for months on end.

relax bro. dont drop down to their level by trolling, okay?

 

[GarretSidzaka]

@MrScorpio
Nice to meet you bro

@JeffIllinois
this mortgage crisis bubble bursting is beginning to sound alot like a conspiracy. and $780,000,000,000 is starting to sound like a big payoff.

 

[Turner]

Moderator Action: Waaaay to much off topic posting here. Closed.

We do have an Off Topic forum, you know.
Please read the forum rules: http://forums.civfanatics.com/showthread.php?t=422889