Quotes to make you quiver

[ABikerSailor]

Pure capitalism does not work. Pure socialism does not work. Sometimes the bar needs to be moved a little to the right and sometimes the bar needs to be move more to the left. It has been a long time since the first liberal economic policy took effect. America is still strong. The tax rate was once too high. Reagan brought it down. It might go up high again under Obama. If it goes too high, people will be voted into office to bring it back down. If we move too far to the left, people of the right will be voted into office. If we move too far to the right, people of the left will be voted into office. Don’t panic. America will continue and Americans will survive. That’s all.

Exactly Matt.......it's a balance thing, kind of like a pendulum also.

 

[glockmail]

Pure capitalism does not work. .....

As long as monopolies are controlled, it does.

 

[ABikerSailor]

As long as monopolies are controlled, it does.

Well then explain why your party decided to remove all the regulations on Wall St? Even though they may not have been monopolies individually, they have been acting like it. WTF do you thing caused the bank meltdown?

 

[glockmail]

Well then explain why your party decided to remove all the regulations on Wall St? Even though they may not have been monopolies individually, they have been acting like it. WTF do you thing caused the bank meltdown?

My Party is the Conservative Party, and was not in control. The meltdown of the banking industry was caused by Fannie Mae, Freddie Mac, and Hedge Fund rules, all policies implemented by Democrats.

 

[ABikerSailor]

My Party is the Conservative Party, and was not in control. The meltdown of the banking industry was caused by Fannie Mae, Freddie Mac, and Hedge Fund rules, all policies implemented by Democrats.

You've obviously not watched the news closely over the past 8 years.

It was Bush Jr. and his admin.

 

[Shogun]

My Party is the Conservative Party, and was not in control. The meltdown of the banking industry was caused by Fannie Mae, Freddie Mac, and Hedge Fund rules, all policies implemented by Democrats.

the CONSERVATIVE party?




and who, pray tell, was your candidate?


HAHAHAHAHAHAHA!


the conservative party.. what a fucking joke. hey, WAY to try and distance yourself, dude! Your grasp at plausible deniability fails.

 

[glockmail]

You've obviously not watched the news closely over the past 8 years.

It was Bush Jr. and his admin.

You are in denial of history.

 

[glockmail]

the CONSERVATIVE party?

....

and who, pray tell, was your candidate?

....

Alan Keyes

 

[ABikerSailor]

You are in denial of history.

Prove it and provide links and references.

 

[YWN666]

Quote:
Originally Posted by glockmail
All liberals go to hell. You do realize that, don't you?

Where is that written?

He consulted his PlaySkool "My Li'l Book of Rightwing Rhetoric"

 

[glockmail]

Prove it and provide links and references.

You'll need to learn on your own time and dime. He're a good start though:

Fannie Mae (Federal National Mortgage Association) was established in 1938, and its brother company Freddie Mac (Federal Home Loan Mortgage Corporation) was founded in 1968. Both Fannie Mae and Freddie Mac were created to expand home ownership and to provide a secondary home loan market for buyers. At the time of the takeover, Fannie and Freddie owned or guaranteed about half of all American home loans and had total obligations of $5 trillion, making their conservatorship one of the largest and potentially costliest federal bailouts of private companies in US history.

There are many variables that may have contributed to the downfall of the two mortgagors. Some market experts believe that ultra low rates and securitization are the main reasons for the current housing crisis and the failure of Fannie and Freddie. Others believe it was improper money management of the two firms. It is widely known that during the four years prior to the government bailout, Fannie Mae purchased or guaranteed $270 billion in home loans to risky borrowers.

At that time, Fannie Mae was under extreme pressure from Countrywide Financial, the largest mortgage lender in the US, to buy Countrywide’s riskier home loans. Further persuasion from Congress to extend more loans to home buyers with low incomes and from managers of hedge funds to take more chances in pursuit of profit may have led to the company to engage in unsafe financial activities and become over-leveraged.

Fannie Mae and Freddie Mac in the Financial Crisis

 

[YWN666]

Alan Keyes

Your man Keyes is Al Sharpton, Jr.

 

[glockmail]

All liberals go to hell. You do realize that, don't you?

[ame]http://www.youtube.com/watch?v=NkrNeh_t8Y4[/ame]

 

[glockmail]

Your man Keyes is Al Sharpton, Jr.

Wow that makes sense.

 

[chloe]

You deny that they are queer enablers and socialists? You just proved my third characteristic.

What is a queer enabler?

 

[glockmail]

What is a queer enabler?

Someone who enables the homosexual agenda to go forward; a liberal Democrat.

 

[ABikerSailor]

You'll need to learn on your own time and dime. He're a good start though: Fannie Mae and Freddie Mac in the Financial Crisis

Did you forget about the deregulation that was passed by this admin? That's where it started dude.

 

[glockmail]

Did you forget about the deregulation that was passed by this admin? That's where it started dude.

You mean under Barney Frank? I suggest that you do a bit of research.

 

[ABikerSailor]

You mean under Barney Frank? I suggest that you do a bit of research.

Bush signed 'em into laws jackass.

 

[glockmail]

Bush signed 'em into laws jackass.

Actually, it was Clinton.

The 1999 Gramm-Leach-Bliley Act broke down barriers between banks, securities firms, mortgage lenders and insurance companies. That deregulation repealed Great Depression-era bank regulations with the approval of former president Bill Clinton.

The Gramm bill encouraged lending during the strong housing market but has put banks, investment houses and insurance companies in peril since the housing bust which started two years ago. The measure allowed those lending money to sell off those loan portfolios to other companies, thus disconnecting the lending risk.

The Obama camp points out that former U.S. Sen. Phil Gramm was a key architect of the banking and lending deregulation. Gramm is a McCain economic adviser eho could be in the Arizona Republican's cabinet. Since his Senate days ended he has also worked for investment bank UBS.

The Democratic National Committee says that 19 McCain fundraisers and campaign advisers lobbied for mortgage giants Fannie Mae and Freddie Mac. The federal government took over the mortgage groups earlier this month as part of a number of finance and mortgage-related bailouts. A number of other McCain fundraisers and campaign officials have lobbied for American International Group and other finance firms. The Federal Reserve Bank is bailing AIG out with an $85 billion package

McCain links to Fannie, Freddie, AIG and other troubled financial firms include senior campaign advisor Charlie Black, campaign manager Rick Davis and national fundraising cochairman Wayne Berman. Merrill Lynch chief executive John Thain is also a McCain backer and has raised money for the Arizona senator. Bank of America said earlier this week it was acquiring Merrill Lynch.

The McCain camp retorted Friday that former Iowa congressman Jim Leach was also a key sponsor of the bill. Leach is a Republican who is backing Obama and spoke at the Democratic National Convention. The McCain campaign also pointed out that Obama running mate U.S. Sen. Joseph Biden, D-Del., voted for the final bill and it was supported by the former president Bill Clinton and Clinton administration economic officials, some of who are advising Obama

Robert Rubin and Larry Summers, former U.S. Treasury secretaries under Clinton, supported the bank deregulation bill in 1999 and are advising Obama on the issue, the McCain campaign said Friday.

McCain voted for the first version of the Gramm bill in 1999 but did not vote on the final measure. Biden voted against the initial bill but for the final product.

Former Fannie Mae chief executive Jim Johnson was previously advising Obama on his running mate pick.

Obama is also the second-largest recipient of Fannie Mae and Freddie Mac campaign contributions, trailing only U.S. Senate Banking Committee chairman Chris Dodd, D-Conn.

McCain, Obama camps point fingers in banking deregulation, mortgage messes - Phoenix Business Journal: