Job Growth: Better then expected in October.

[boedicca]

That's not blaming the minorities. The Fed did that, pressured by Racial Political groups.

The minorities who were given loans they couldn't afford, only to find themselves in foreclosure were victimized by this Cronysim.

 

[Flopper]

Interesting that there were over 8,000 government jobs lost last month and over quarter million since this thing began. Without the stimulus the local government job lost would have been much higher. Voters have not responded to pleas from state and local government for more taxes which means higher job loses in the public sector.

 

[Samson]

That's not blaming the minorities. The Fed did that, pressured by Racial Political groups.

The minorities who were given loans they couldn't afford, only to find themselves in foreclosure were victimized by this Cronysim.

What "racial political groups"......

Are the Black Panthers pressuring the FED?

 

[boedicca]

ACORN and the Jesse Jackson orgs.

 

[Samson]

ACORN and the Jesse Jackson orgs.

ACORN????

Is it still in bidness?

 

[AquaAthena]

Poll workers. Their jobs are now over.

AND the retail hiring season is October through December!!

 

[boedicca]

It has reorganized under different names.

But this discussion is about what caused the financial crisis; ACORN was quite active in pressuring the government to change lending standards.

 

[Samson]

It has reorganized under different names.

But this discussion is about what caused the financial crisis; ACORN was quite active in pressuring the government to change lending standards.

I'll assume that's true, and we're talking about Fannie May/Freddie Mac as "Government Lenders."

What has this to do with the Fed?

Furthermore, just because Freddie and Fanny were skipping down the road to mortgage default, didn't mean every other bank was forced to follow.

 

[boedicca]

Try to keep up, Sammy.

But if you need a cliff notes version:

RealClearMarkets - Articles - The Long Road to Slack Lending Standards

 

[Samson]

Try to keep up, Sammy.

But if you need a cliff notes version:

RealClearMarkets - Articles - The Long Road to Slack Lending Standards

More Bull-pucky

The Fed never FORCED anything

Boston Fed then called for what amounted to undermining many of the lending criteria that banks had used for decades. It told banks they should consider junking the industry’s traditional debt-to-income ratio

Gee, I guess if the Boston Fed told Bank of America to jump off a bridge, they would have done that too!

 

[boedicca]

You're wrong, sweetie.

 

[Samson]

You're wrong, sweetie.

NEVER!!!!

 

[pinqy]

You are a moron.

Read the data:

Employment Situation Summary Table A. Household data, seasonally adjusted

And learn about the various measures of Unemployment

Table A-15. Alternative measures of labor underutilization

And there's nothing in there that is a cut off for length of unemployment. If you're not working and currently looking for work, you're unemployed, regardless of how long you've been out of work. If you're not looking, then you're not looking, and therefore not unemployed but "not in the labor force."

Again, length of unemployment doesn't matter...previous employment doesn't matter.

 

[Spoonman]

It has reorganized under different names.

But this discussion is about what caused the financial crisis; ACORN was quite active in pressuring the government to change lending standards.

They played the old discrimination card well. No one was going to buck that.

 

[KissMy]

Unemployment was in decline until the Democrats took over congress January 2007. They brought US massive unemployment! Real people are hurting. Government cronies are living the high life as people fall off the unemployment rolls.

Since Democrats took over Congress January 2007 the percent of the population that is employed has tanked. Democrats destroyed the workforce.

[/QUOTE]