Deliberate Effort to Wreck the Economy, Obama wants Subprime Loans Back

Discussion in 'Economy' started by teapartysamurai, May 12, 2011.

  1. teapartysamurai
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    teapartysamurai Gold Member

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    A Renewed Crackdown on Redlining - BusinessWeek

    Read the whole thing.

    Behind all the flowery language of Obama being concerned that "disadvantaged people" don't have access to credit, is cold hard fact that means he wants more subprime loans.

    THIS IS WHAT CRASHED THE ECONOMY IN 2008!

    I think the comments section of this article say it best. This crap about "helping the disadvantaged" has not fooled the readers of the article:

    And it goes on and on and on. 406 comments and most were EXTREMELY NEGATIVE to the idea.

    What we have here is Obama trying to deliberately TANK the Economy while paying out goodies to the voters he hopes will keep him in office.

    2012 can't come soon enough!
     
  2. old navy
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    old navy <<< Action Figures

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    I have a 400,000 dollar house that's worth about half that. Thank you Clinton, Dodd, and Frank. Not enough credit is given to the housing crisis for its part in causing the recession. It wasn't the sole reason, but sure played a big part. Someone had better start running this country with sound economic principles rather than the social models that is bringing it to its knees.
     
  3. teapartysamurai
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    teapartysamurai Gold Member

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    The Subprime mess was a HUGE part of the economic mess and it started with Jimmy Carter's bright idea to bring credit to the "disadvantaged."

    Then Clinton doubled down on the same idea.

    Bush tried to reform the mess but Democrats blocked any effort to reform Fannie Mae to protect Franklin Raines.

    Now Obama wants to bring the WHOLE MESS BACK, when we haven't recovered from the last round.

    Remember THIS when you vote next year!

    [ame=http://www.youtube.com/watch?v=_MGT_cSi7Rs]YouTube - Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis[/ame]
     
  4. Toro
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    Toro Diamond Member

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    CRA didn't cause the financial crisis. That's a fairy tale.
     
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  5. teapartysamurai
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    teapartysamurai Gold Member

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    Because you say so, huh?

    :lol::lol::lol::lol::lol::lol::lol::lol:
     
  6. editec
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    editec Mr. Forgot-it-All

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    TPS

    The secret to understanding is to look at what people do, rather than what they say they're doing.

    That is as true with Obama as it is for every other POTUS.

    When the economy went into meltdown, what class was saved on the tax payers's dime and what class was left dangling in the wind?

    And which two most recent administrations BOTH did that?

    Keep digging for the facts, amigo.

    I have confidence that sooner or later you're going to figure out how the grand scam actually works.
     
  7. KissMy
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    KissMy Free Breast Exam

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    Fannie & Freddie did cause the financial crisis!
     
  8. teapartysamurai
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    teapartysamurai Gold Member

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    Try again, and this time drop the conspiracy theory. :cuckoo:
     
  9. Toro
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    Toro Diamond Member

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    The only people who say otherwise are biased ideological hacks.
     
  10. Toro
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    Toro Diamond Member

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    Bubbles are caused by the creation of excess credit. The GSEs contributed by leveraging their balance sheets 50:1 debt to equity. But this is no different than Wall Street, who also expanded their balance sheets, only to a lesser degree They also contributed by following the financial industry in loosening underwriting standards. But they weren't the genesis of the crisis.
     

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