Old Rocks
Diamond Member
Xenophon is right ... and Chris is a case in point.
No really.
Phil Gramm put the amendment into a spending bill on the day before Christmas recess that allowed the creation of the financial derivatives that destroyed the banks.
George Bush cut taxes for the rich and increased the National Debt to fund the ridiculous invasion of Iraq.
... and who keeps pushing to force these banks to loan money to high risk people that can not nor have any intention of paying them back?
President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)
youtube/twit273 ^ | September 24, 2008 | sickoflibs
Posted on Friday, May 01, 2009 8:51:06 PM by sickoflibs
GWB 2002 Speech :More and more people own their homes in America today. Yet we have a problem here in America because fewer than half the Hispanics and African Americans own their own homes. Thats a home ownership gap; a gap that we got to work together to close. And by the end of this decade well increase the number of minority homeowners (future Obama voters ) by 5.5 million families.
One of the major obstacles to minority home-ownership is financing. Fannie Mae and Freddy Mac (who I will bail out in 2008) have committed to provide more money for lenders, they committed to meet the shortage of capital available for minority home-buyers. Freddie Mac just began 25 initiatives around the country to dismantle barriers (like income requirements) and create better opportunities for home-ownership. One of the programs is designed to help families with bad credit histories to qualify for home ownership loans (by faking their income) . You dont have to have a lousy home for first time home-buyers. You put your mind to it the first time low income home buyer can have just as nice a house as anyone else (till those adjustable rates go up).
video at : economic crisis president bush mortgage speechhttp://www.freerepublic.com/focus/news/2242531/posts