John McCain's memory...

Discussion in 'Congress' started by DavidS, Oct 6, 2008.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    John McCain made a statement today regarding Barrack Obama.

    [ame=http://www.youtube.com/watch?v=5Pg8bT6A0do&feature=related]YouTube - McCain: Still Doesn't Regret Deregulation[/ame]

    This 60 minutes interview was done within the past two weeks.

    Are we really going to elect a guy who can't remember all of the de-regulation he's supported throughout his career? Are we going to really elect a guy who wants us to believe that Barrack Hussein Obama, is a terrorist just because he has an Arabic middle name? Obama served on the same board of a charity to fight poverty as Bill Ayres. Let me repeat that. Obama served on the board of a charity to fight poverty. It was, by coincidence that Bill Ayres was on the same board. There is nothing Obama should be ashamed about. A country should not be judged by how it treats its wealthy and middle class. A country should be judged by how it treats the most vulnerable. Barrack Hussein Obama has a long record of helping the most vulnerable people in our society.

    Hussein - The boy's name Hussein \hu(s)-sein\ is pronounced hoo-SAYN. It is of Arabic origin, and its meaning is "good; small handsome one". The name of a prominent person in Shiite Islam and a royal name in Jordan.
    Hussein has 4 variant forms: Husain, Husayn, Husein and Hussain. Baby names that sound like Hussein are Hassain and Hassan. Hussein is a very rare male first name and a popular surname (source: 1990 U.S. Census).

    There is nothing wrong with having an Arabic middle name. Barrack is a Hebrew name. It is the last name of Israel's defense minister, Ehud Barrack.

    We need to stop letting these people try to play into our fears and start paying attention to what really matters: John McCain's record of de-regulation.
     
    Last edited: Oct 6, 2008
  2. jreeves
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    jreeves Senior Member

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    Ah yes he voted to repeal the Glass-Steagall Act of 1933, which prevented the merging of financial companies, insurance companies and banking institutions. Do you think some of these mergers have actually helped this situation, at least stop the bleeding?
     
  3. DavidS
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    DavidS Anti-Tea Party Member

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    This Act is the root cause of our crisis. If a commercial bank simply held that debt until it was paid off, instead of selling the debt as securities, this crisis wouldn't be here.
     
  4. dilloduck
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    dilloduck Diamond Member

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    and the dumb asses who bought them ?
     
  5. Larkinn
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    Larkinn Senior Member

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    Actually it was profitable for a while. This was an example of capitalism failing. I don't know if you know much about the lifestyles of I-bankers, but for a while they were rolling in the money.
     
  6. Chris
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    Chris Gold Member

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    Bingo!

    That is what I have been saying all along.

    The problem has always been that the mortgage companies could sell the mortgage on the day after closing, so they did not care if the borrower could pay back the money or not.
     
  7. DavidS
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    DavidS Anti-Tea Party Member

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    Investment firms, foreign countries, offshore bank accounts, you name it. Have you answered my question about your age yet? Are you even old enough to vote?
     
  8. dilloduck
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    dilloduck Diamond Member

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    and the dumb asses who were holding them when the balloon busted ?
     
  9. DavidS
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    DavidS Anti-Tea Party Member

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    We would, though, still see a massive amount of s&l banks fail because of all of the bad debt. This would still hurt the economy, though not as bad.

    Banks saw the subprime market as an untapped source of revenue. Tens of millions of people who previously weren't allowed to get loans, somehow were now able to. So banks moved in on this and gave $500,000 homes to people with 580 credit scores. Banks then sold those mortgages as securities and well, here we are.

    It's sad to see this crisis hurting us so badly.
     
  10. Chris
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    Chris Gold Member

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    Things are not so bad, though. We still have low interest rates, relatively low unemployment, and we are about to get better leadership. The ship is going to be turned around.
     

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