Previous 21 - 30 Next
In response to:

Beware of the Lame-Duck Session

stay_focused Wrote: Nov 06, 2012 12:26 PM
George W. Bush and the Republican controlled Congress passed a law in 2004 that frothed the housing market with the American Dream Downpayment Act. Below, a liberal website? NO! http://www.heritage.org/Research/budget/wm378.cfm Here's a link discussing the concerns of the Heritage Foundation of the American Dream Downpayment Act; "Fiscally Irresponsible and Redundant to Existing Homeownership Programs." The link below explains how George W. Bush eagerly "Hosts Conference on Minority Homeownership." http://www.hud.gov/offices/cpd/affordablehousing/programs/home/addi/
In response to:

Emptiness at the End

stay_focused Wrote: Nov 06, 2012 12:26 PM
George W. Bush and the Republican controlled Congress passed a law in 2004 that frothed the housing market with the American Dream Downpayment Act. Below, a liberal website? NO! http://www.heritage.org/Research/budget/wm378.cfm Here's a link discussing the concerns of the Heritage Foundation of the American Dream Downpayment Act; "Fiscally Irresponsible and Redundant to Existing Homeownership Programs." The link below explains how George W. Bush eagerly "Hosts Conference on Minority Homeownership." http://www.hud.gov/offices/cpd/affordablehousing/programs/home/addi/
The American Dream Downpayment Act was passed when George W. Bush was president, Denny Hastert(R) was Speaker of the House and Bill Frist(R) was Senate Majority Leader. Many Republicans talk about the Community Re-Investment Act but are curiously silent about George Bush's and the Republican Party's prerogatives. President George W. Bush readily took up the homeownership baton at the start of his administration in 2001. Owning a home became one pillar of his "ownership society", a vision in which everyone would possess a stake in the American economy. In the summer 2002, Bush challenged lenders to add 5.5 million new minority homeowners by the end of the decade; in 2003 he signed the American Dream Downpayment Act.
In response to:

Emptiness at the End

stay_focused Wrote: Nov 06, 2012 12:20 PM
To reinforce his effort, the Bush administration put substantial pressure on Fannie Mae and Freddie Mac to increase their funding of mortgage loans to lower-income groups. The Bush administration and Republicans in Congress were opposed to legislation banning 'predatory' lending, believing legislation would overly restrict lending and thus slow the march of home ownership; moreover, the Republicans argued, existing regulations were adequate to discourage the worst excesses. http://www.americandreamdownpaymentassistance.com/white_house_docs.cfm Seems like putting blame on the CRA is a ruse by the Republican Party to cover their own tail.
To reinforce his effort, the Bush administration put substantial pressure on Fannie Mae and Freddie Mac to increase their funding of mortgage loans to lower-income groups. The Bush administration and Republicans in Congress were opposed to legislation banning 'predatory' lending, believing legislation would overly restrict lending and thus slow the march of home ownership; moreover, the Republicans argued, existing regulations were adequate to discourage the worst excesses. http://www.americandreamdownpaymentassistance.com/white_house_docs.cfm Seems like putting blame on the CRA is a ruse by the Republican Party to cover their own tail.
To reinforce his effort, the Bush administration put substantial pressure on Fannie Mae and Freddie Mac to increase their funding of mortgage loans to lower-income groups. The Bush administration and Republicans in Congress were opposed to legislation banning 'predatory' lending, believing legislation would overly restrict lending and thus slow the march of home ownership; moreover, the Republicans argued, existing regulations were adequate to discourage the worst excesses. http://www.americandreamdownpaymentassistance.com/white_house_docs.cfm Seems like putting blame on the CRA is a ruse by the Republican Party to cover their own tail.
In response to:

Beware of the Lame-Duck Session

stay_focused Wrote: Nov 06, 2012 12:17 PM
"These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis, said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee." This is the sentence from the 2003 NY Times article that Republicans like to make a talking-point about. True at the time, but after a long five more years of Bush policy and contempt for regulatory oversight the camel's back was inexorable broken. In 2003 Fannie, Freddie, Goldman Sachs, Merrill Lynch, JP Morgan, Lehman Brothers, Bear Stearns, Morgan Stanley, Citigroup and last but not least AIG were all healthy. Five years later they were all dying or dead.
In response to:

Emptiness at the End

stay_focused Wrote: Nov 06, 2012 12:17 PM
"These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis, said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee." This is the sentence from the 2003 NY Times article that Republicans like to make a talking-point about. True at the time, but after a long five more years of Bush policy and contempt for regulatory oversight the camel's back was inexorable broken. In 2003 Fannie, Freddie, Goldman Sachs, Merrill Lynch, JP Morgan, Lehman Brothers, Bear Stearns, Morgan Stanley, Citigroup and last but not least AIG were all healthy. Five years later they were all dying or dead.
"These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis, said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee." This is the sentence from the 2003 NY Times article that Republicans like to make a talking-point about. True at the time, but after a long five more years of Bush policy and contempt for regulatory oversight the camel's back was inexorable broken. In 2003 Fannie, Freddie, Goldman Sachs, Merrill Lynch, JP Morgan, Lehman Brothers, Bear Stearns, Morgan Stanley, Citigroup and last but not least AIG were all healthy. Five years later they were all dying or dead.
In response to:

Emptiness at the End

stay_focused Wrote: Nov 06, 2012 12:13 PM
These idiot Republicans would blame the U.S. Army for the Holocaust that took place in WWII Europe. Who was in charge of Dachau concentration camp in June, 1945? You see, the Republican party will always use self-serving logic when it meets their needs.
In response to:

Emptiness at the End

stay_focused Wrote: Nov 06, 2012 12:12 PM
Here's what Republicans have been instructed to say about Fannie and Freddie, "They own all the sub-prime debt and they are responsible for all the bad home mortgage loans made prior to the financial meltdown in 2008." These Repub-tards have never heard of CountryWide or any of the other hundreds of sub-prime mortgage lenders, all outside of federal home lending laws, who would give a mortgage to anyone who could fog up a mirror. When CountryWide went bankrupt, who got all their non-performing loans?
Previous 21 - 30 Next