Subprime Suspects

I???ll disagree with anyone that thinks the Community Reinvestment Act is to blame for the housing crisis, but to call someone racist just because you disagree is an outrage. Are you ignorant in what the Community Reinvestment Act is or intentionally misleading readers? There is absolutely nothing in CRA that has to do with ethnicity or race. It's about serving communities based on the census tract or the income of the borrower. Disagreeing with the policy does not make someone a racist!

Bill Clinton points to liberal Congressional Democrats' protection of Fannie and Freddie from scrutiny as a primary cause of the current economic meltdown.

http://www.youtube.com/watch?v=XsynspIqAoE

To prove Bill Clinton's point, this is a link to a C-SPAN video clip of the Congressional hearings at roughtly the time McCains attempt at S.190. to fix fannie and freddie.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

"Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis"

The link below describes how some of those Democrats in Congress tried to use the original version of the bailout bill to divert money eventually recovered to groups like ACORN. See: Wall Street Journal

http://online.wsj.com/article/SB122247015469280723.html?mod=googlenews_wsj

And here is Lou Dobbs reporting on ACORN corruption and ties to Obama, including Obama Campaign paying ACORN $800,000 for voter registration activities, and Obama representing them when he was a practicing attorney.

http://www.cnn.com/video/#/video/bestoftv/2008/10/09/ldt.tucker.acorn.under.fire.cnn

This link of a CSPAN video clip may help set the context, as these hearings were at the time of McCains attempt at S.190.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

"Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis"

James Scott-you misunderstood my point. I live in a middle class intergrated neighborhood. Many of the homes bought were not only over-priced, but many were bought by people whose incomes could not pay those prices. This is not a question of race, color or ethnicity. Just like in many parts of this country, there are foreclosures and houses for sale. Many houses are boarded up, that not only lower housing prices, but destroy comunities with dirty lots, garbage, and graffitti. What is considered a "nice" neighborhood is not so nice anymore. So again my question is if someone cannot afford a home beyond their ability to pay, that is not related to losing a job or health emergency, why should they receive any mortgage at all?One more thing, I'm an independent, never voted republican, and will vote for Obama. Hope I cleared up things for you

U need to feel sorry for yourself. Somewhere along the line, you must have failed all of your English courses or someone else was doing your work while you were playing football or something else.Your ignorance is apparent from your writing. I do feel sorry for you because you have to blame the white race for your weaknesses and failures. Typical for your race

Lovethiscountry's comments are the new Welfare mothers of the Republican party. No one who doesn't have "the job income" is allowed to buy 350K homes.
I was A YOUNG BLACK POSTDOC living in DC 5 years ago with an income over 50K. I bought a house for 150K in the 3 years that I lived in it appraisers, not me drove the price of the homes in my neighborhood through the roof. A year before I sold my house for less then 290,000 (had to relocate for a real job), the houses on either side of me were sold to WHITE FAMILIES for 450K in one instance and 550K in the other.
Your world view lovethiscountry is absurd, but the Republicans and supply siders rely on you thinking someone is getting something your aren't and you are too dumb to realize that it is the RICH WHITE GUY not some POOR BLACK person who is getting what you aren't because your bigotry is so much of your identity. People like you need to grow up. If you love this country so much you need to stop hating people who are different then you. Good luck to you. I don't hate you I feel sorry for you.

This link of a CSPAN video may help set the context, as these hearings were at the time of McCains attempt at S.190.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

"Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis"

So can someone explain to me this...How can someone who cannot afford a home worth $175 K or 250K, get a mortgage for homes worth 350K or more.Many of the people who bought these homes did not have the job income or assets to qualify for an "honest" mortgage. Are they totally responsible, no...the lenders who tricked them, confused them, or even used fraud, but they signed these bad loans, asked for ridculous rents to offset the costs, and many took the money and ran. Minorities a group, or a person who is "called a minority" should not be blamed based on skincolor, or ethnic backround, but its this simple I cannot afford to live in an upscale community and the superrich,then a person who cannot afford to live in a middle class community as I do, should not be allowed to buy a house and then ruin a block and neighborhoods for the rest of us whose families have struggled to achieve the American dream through education and hard work.

It's the same as the sexual harasser blaming the victim for her victimization...disgusting fascists. Those in the position of power are always culpable. Who will deny that the poor have little power in our society?

It's the same as the sexual harasser blaming the victim for her victimization...disgusting fascists. Those in the position of power are always culpable. Who will deny that the poor have little power in our society?

I do not have a comment at this point but I do have a question. I am deeply alarmed by the current national economic situation. A co-worker told me this week that CNN had reported that more than 5 million of the
recently failed mortgages in the U.S. were for Illegal Aliens. Is this true? As a government employee who
deals with CDBG (Community Development Block Grant ) funds on a daily basis, I am consistently working
to provide eligible and deserving families (both white and minority) with money for both Down Payment Assistance for new homes, and HOME FUNDS for existing home repairs and improvement. You would not believe the level of detailed documentation that is required for the applicants to qualify for these funds
FUNDS (Some do not qualify and their application is denied). And city goverments that do not follow the rules either have their HUD funding eliminated or seriously reduced. How, with these stringient requirements for legal citizens, is it possible for Illegal Aliens to qualify for a mortgage. Someone in authority must have been "dead at the switch" when this train derailed and everyone from us to our great grandchildren are going
to pay the price.

In a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide ,Bear Stearns, Lehman Brothers and Merrill Lynch , Fanny and Freddy Mae ,AIG
The government took them over because they are essentially bankrupt. Even with the goverment nationalizing hundreds of billions of dollars in debt the stock market is crashing
the credit markets are frozen and all of us may suffer beyond anything in the last 80 years.
McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.
Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He didnt realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime. Check out this link to the truth http://my.barackobama.com/keatingvideo
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a crashing economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?
Mccains team just said they no longer want to talk about the economy.Instead they would like to spend time talking about obama
which means running the biggest smear campaign in history.
They think they can just tell you lies and you wont be smart enough to see through it
Let's teach him we are smarter than that .
Elect Obama Biden 2008


Check out this video of sarah palins interview and ask your self if she understands what she is talking about.
http://www.youtube.com/watch?v=r36Xc0GG4iQ

In a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide ,Bear Stearns, Lehman Brothers and Merrill Lynch , Fanny and Freddy Mae ,AIG
The government took them over because they are essentially bankrupt. Even with the goverment nationalizing hundreds of billions of dollars in debt the stock market is crashing
the credit markets are frozen and all of us may suffer beyond anything in the last 80 years.
McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.
Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He didnt realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime. Check out this link to the truth http://my.barackobama.com/keatingvideo
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a crashing economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?
Mccains team just said they no longer want to talk about the economy.Instead they would like to spend time talking about obama
which means running the biggest smear campaign in history.
They think they can just tell you lies and you wont be smart enough to see through it
Let's teach him we are smarter than that .
Elect Obama Biden 2008


Check out this video of sarah palins interview and ask your self if she understands what she is talking about.
http://www.youtube.com/watch?v=r36Xc0GG4iQ

In a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide ,Bear Stearns, Lehman Brothers and Merrill Lynch , Fanny and Freddy Mae ,AIG
The government took them over because they are essentially bankrupt. Even with the goverment nationalizing hundreds of billions of dollars in debt the stock market is crashing
the credit markets are frozen and all of us may suffer beyond anything in the last 80 years.
McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.
Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He didnt realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime. Check out this link to the truth http://my.barackobama.com/keatingvideo
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a crashing economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?
Mccains team just said they no longer want to talk about the economy.Instead they would like to spend time talking about obama
which means running the biggest smear campaign in history.
They think they can just tell you lies and you wont be smart enough to see through it
Let's teach him we are smarter than that .
Elect Obama Biden 2008


Check out this video of sarah palins interview and ask your self if she understands what she is talking about.
http://www.youtube.com/watch?v=r36Xc0GG4iQ