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phinfan3411
09-29-2008, 05:50 PM
I do not want to get into a shouting match here, but this video has been discussed today on the radio, and I wanted to see what some thoughts are, as we all watch our 401k's tumble.

The reason I post this is because I hear so often in the media about how what is happening now will help democrats, and I really, for the life of me do not see it.

http://www.youtube.com/watch?v=3p1Wc2NFa3w&feature=related

Please watch it until the end, slick Willy has something to say.

phinfan3411
09-29-2008, 09:48 PM
Crickets..............



Nothing on this? I watch it, and I wonder if they knew what was going on, and didn't care, and just lied through their teeth, or they are such idiots they need to be replaced reguardless.

MDFINFAN
09-29-2008, 10:06 PM
Tell his to Rick Davis, your boy's campaign manager who recieved payments from fannie up until last month.. It's both parties p4311, the parties are on the take..

Tetragrammaton
09-29-2008, 10:07 PM
I missed this thread initially.

Interesting video. Both sides are to blame for the crisis. Obviously, this video makes its bias and its selection of who to represent very clear, but the congressional Democrats are guilty as well.

But there are a few things to consider. For the most part, House and Senate elections are decided by the turnout of the Presidency, and for the most part, Obama doesn't have the stink of the issue, mainly because of how little time he has spent in Congress.

The House is such a fascinating place. It is so partisan and ideological, but then they turn around and contradict their traditional roles to spite the opposition.

This won't affect peoples general beliefs that Republicans rule on foreign policy and Democrats rule on economics. Just like the cluster**** of Iraq doesn't change the perception for the Republicans being foreign policy czars.

phinfan3411
09-29-2008, 10:27 PM
Tell his to Rick Davis, your boy's campaign manager who recieved payments from fannie up until last month.. It's both parties p4311, the parties are on the take..


I think if you go through my posts you will find I say many times that their are crooks on both sides of the aisle, and there are. However, watch the video, watch THIS VIDEO:

http://www.youtube.com/watch?v=Y3vtbGtYqm0

Maybe read this thread:

http://www.finheaven.com/forums/f36/conservitive-socialism-229668.html

Then, maybe actually know what has happened over the past few days, where (thank god) 67% percent of the republicans, and some good democrats seemed to actually fight for the taxpayer.

While I certainly do not think republicans are angels (far from it) lets be real guys, democrats the answer? watch the videos again. Were in trouble.

MDFINFAN
09-29-2008, 11:31 PM
I think if you go through my posts you will find I say many times that their are crooks on both sides of the aisle, and there are. However, watch the video, watch THIS VIDEO:

http://www.youtube.com/watch?v=Y3vtbGtYqm0

Maybe read this thread:

http://www.finheaven.com/forums/f36/conservitive-socialism-229668.html

Then, maybe actually know what has happened over the past few days, where (thank god) 67% percent of the republicans, and some good democrats seemed to actually fight for the taxpayer.

While I certainly do not think republicans are angels (far from it) lets be real guys, democrats the answer? watch the videos again. Were in trouble.

Where 67% of the repubs and 40% of the dems got together...if you'd note I agreed with it.. I think we should take our time with this.. I'm just not a dem and repub kind of guy... I only talk about presidents..the dem's and Repub's are 2 of the same to me..just cater to different parts of the electorate and do nothing for either.. but both groups think their guys do.. I feel for party ppl who are so loyal...

MoFinz
09-29-2008, 11:40 PM
Tell his to Rick Davis, your boy's campaign manager who recieved payments from fannie up until last month.. It's both parties p4311, the parties are on the take..

You're really OK with Raines being one of Obama's economic advisors? You gotta admit, thats scary stupid(not on your part, Obama's). Look at how much damage he did at fannie in only 5 years time

Eshlemon
09-30-2008, 01:18 AM
http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=all


Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
Published: September 30, 1999
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.


Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.

Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.

''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''

Democrats whre against changes to highly expanded risk mortage industries because of threats to low income and minority housing, both preceived and real. Once implemented, despite those who saw a need for changes for what might have become a good program, it became a rich vs poor, minority, etc. arguement against changes.

And while the path becoming a little and little clearer, would give even odds the dominos along the way could be Republican or Democrat. And has the HUD every done anything right?


In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

Wonder where this guy is now from 9 years ago? Interesting historical article, maybe should have made it's own thread.