Trucking Giant To Declare Bankruptcy

[airplanemechanic]

I’ve never heard of Celadon.

You aren't in the trucking industry.

The problem with mega's like Celadon is that they became too big for their britches. They start to treat drivers like crap and then the good ones leave meaning all they get is crappy drivers.

Celadon is a huge crappy mega. They're like Swift and JB Hunt, just not quite as big but just as crappy. Trucks are governed at like 63 or 64. My truck will blow their doors off. Good riddance. Fewer drivers on the roads mean freight rates go up.

No, they were crooks.

I thought you'd never heard of them.

 

[depotoo]

I’ve never heard of Celadon.

You aren't in the trucking industry.

The problem with mega's like Celadon is that they became too big for their britches. They start to treat drivers like crap and then the good ones leave meaning all they get is crappy drivers.

Celadon is a huge crappy mega. They're like Swift and JB Hunt, just not quite as big but just as crappy. Trucks are governed at like 63 or 64. My truck will blow their doors off. Good riddance. Fewer drivers on the roads mean freight rates go up.

No, they were crooks.

I thought you'd never heard of them.

Read ny link I posted. They were charged with fraud.

 

[candycorn]

Let's hope this is a harbinger for a catastrophic economic collapse that results in tens of millions of Americans suffering horribly so that we can get a Democrat into the White House because, that is all that matters.

<sarcasm>
Correct

 

[Meister]

This is one of the largest trucking companies in the nation. It's one out of 640 trucking companies that went bankrupt this year. Which is 3 times as many that went bankrupt last year. This will result in over 3 thousand truckers to lose their jobs. Many are being stranded without a way to get home.

It's being described as a bloodbath.

All of this can't be put on trump. The bush boy started to allow truckers from Canada and Mexico on our highways. Before the bush boy all goods were taken to the US border then handed over to our truckers to distribute throughout the nation.

trump's tariff war and canceling of NAFTA have taken a huge toll on the trucking industry. The fact that manufacturing is in recession is also harming the industry. The trucking industry has been in recession for 11 months.

This can't go on without serious consequences and damage to our nation.

An American trucking giant is slated to declare bankruptcy — and it may leave more than 3,200 truck drivers stranded and jobless

Another 1,000 truck drivers lost their jobs in November, and it's a chilling sign for the economy

America's largest truck-engine manufacturer just announced 2,000 layoffs — and it's another sign of the trucking 'bloodbath' that's slamming the $800 billion industry

Truckers are becoming more and more pessimistic about the US economy

Truckers can't pay off their fuel cards — and it's a 'sure sign' that more trucking bankruptcies are coming

Oh here it is, I've been waiting for this, Dana.
I've said that when the russia russia russia falls flat and the ukraine going south fast, that the next
thing is to talk down the economy.....on que, here it is. Thank you for not disappointing.
Wages going up, unemployment at historic lows and inflation in check......not seeing the impending of the doom
and gloom of a recession.

 

[Dont Taz Me Bro]

trump's tariff war and canceling of NAFTA have taken a huge toll on the trucking industry.

NAFTA has not been cancelled.

 

[Rambunctious]

Dems pray for a stock market collapse every day because they hate Trump and most of them are too stupid to know how that would hurt them personally....

 

[airplanemechanic]

I’ve never heard of Celadon.

You aren't in the trucking industry.

The problem with mega's like Celadon is that they became too big for their britches. They start to treat drivers like crap and then the good ones leave meaning all they get is crappy drivers.

Celadon is a huge crappy mega. They're like Swift and JB Hunt, just not quite as big but just as crappy. Trucks are governed at like 63 or 64. My truck will blow their doors off. Good riddance. Fewer drivers on the roads mean freight rates go up.

No, they were crooks.

I thought you'd never heard of them.

Read ny link I posted. They were charged with fraud.

Being charged with fraud doesn't mean the company must go under. A profitable company can continue without it's CEO because another can be appointed easily.

 

[depotoo]

I’ve never heard of Celadon.

You aren't in the trucking industry.

The problem with mega's like Celadon is that they became too big for their britches. They start to treat drivers like crap and then the good ones leave meaning all they get is crappy drivers.

Celadon is a huge crappy mega. They're like Swift and JB Hunt, just not quite as big but just as crappy. Trucks are governed at like 63 or 64. My truck will blow their doors off. Good riddance. Fewer drivers on the roads mean freight rates go up.

No, they were crooks.

I thought you'd never heard of them.

Read ny link I posted. They were charged with fraud.

Being charged with fraud doesn't mean the company must go under. A profitable company can continue without it's CEO because another can be appointed easily.

Read what they, not one, they did. And how it broke the company. They couldn’t recover from the scandal. They ruined their reputation and cost the company millions upon millions.

 

[Admiral Rockwell Tory]

This is one of the largest trucking companies in the nation. It's one out of 640 trucking companies that went bankrupt this year. Which is 3 times as many that went bankrupt last year. This will result in over 3 thousand truckers to lose their jobs. Many are being stranded without a way to get home.

It's being described as a bloodbath.

All of this can't be put on trump. The bush boy started to allow truckers from Canada and Mexico on our highways. Before the bush boy all goods were taken to the US border then handed over to our truckers to distribute throughout the nation.

trump's tariff war and canceling of NAFTA have taken a huge toll on the trucking industry. The fact that manufacturing is in recession is also harming the industry. The trucking industry has been in recession for 11 months.

This can't go on without serious consequences and damage to our nation.

An American trucking giant is slated to declare bankruptcy — and it may leave more than 3,200 truck drivers stranded and jobless

Another 1,000 truck drivers lost their jobs in November, and it's a chilling sign for the economy

America's largest truck-engine manufacturer just announced 2,000 layoffs — and it's another sign of the trucking 'bloodbath' that's slamming the $800 billion industry

Truckers are becoming more and more pessimistic about the US economy

Truckers can't pay off their fuel cards — and it's a 'sure sign' that more trucking bankruptcies are coming

Celadon's bankruptcy was the result of fraud by company executives. That has nothing to do with anything else you posted.

 

[Admiral Rockwell Tory]

Those who have actually learned about economics, I had to take the classes for my degree in accounting, see several serious indicators that this economy is in trouble. Lowering interest rates can only go so far. It won't put money in the hands of those who drive our economy, the middle class and poor.

It also won't resolve the trade issues America has with other nations.

First thing we can do is get the Canadian and Mexican trucks off our roads. We can very easily and quickly go back to the policy we had for literally decades, not allow foreign trucks on our roads.

We all know that the trade issues are not going to be resolved until after the 2020 election but I don't know if our economy can last that long.

Almost every radio ad that I hear offering employment in my area are trucking firms, They range form Walmart, UPS, and other major trucking companies right down to local haulers. They cannot find enough drivers. That flies in the face of any downturn in the trucking industry.

 

[Biff_Poindexter]

Oooh, is this where the left.....try to keep up with this now...

They credit all of the good things in the economy to obama.

They said the economy would tank in 2017 after Trump did away with obama era regulations.

Never did, economy is still going great. The November jobs numbers were outstanding. Oooops, that was all due to obama.

Now, here come these little posts that now claim the economy is doing bad. They cheer for that btw and that indisputable.

However, the economy is doing great and there will always be ebbs and flows with the economy .


Now, anyone should be nervous about the economy with the democrats pushing propaganda like they did in 2006 to capture the House and Senate.

Then they deliberately sabotaged the economy that was going great under Bush till 2006 (unemployment rate is 4.6) and then the democommies took over power in 2007.

Let the stupid left explain these facts. Stupid Mac never does.

2007

• August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, the White House, 8/9/07)
  
  
• August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07)
  
  
• December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, the White House, 12/6/07)

2008

• February: Assistant Treasury Secretary David Nason reiterates the urgency of reforms, saying "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
  
  
• March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
  
  
• April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
  
  
• May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
  • "Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)
    
    
  • "[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
    
    
  • "Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)
• June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
  
  
• July: Congress heeds the President's call for action and passes reform legislation for Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
  
  
• September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Dodd questions "why weren't we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years." (Dawn Kopecki, "Fannie Mae, Freddie 'House Of Cards' Prompts Takeover," Bloomberg, 9/9/08)

Can they explain any of that? Those are the facts.

Here they are again, convincing us that they are the Robin Hoods.

They are the demons people. They are not liberals. We should stop calling them that.

Why would anyone predict the economy would tank in 2017 if the economy was already tanking all thru out the Obama years ??

At least that is what Trumpers believe, since they hate math so much

 

[sparky]

You aren't in the trucking industry.

I was, but quite some time ago

I was witness to one east coast trucking monopoly closing it's doors

The union members set up a tent across the street, guy's in their 50's early 60's who's jobs folded and pensions became threatened when their union turned back on them .....

nasty biz...

They became completely unhireable

Where's Ray?

he'd LOVE this.....

~S~

 

[sparky]

Why would anyone predict the economy would tank in 2017 if the economy was already tanking all thru out the Obama years ??

Because it's cyclical, with only the top elites getting a chair when the music stops Biff

~S~

 

[Theowl32]

Oooh, is this where the left.....try to keep up with this now...

They credit all of the good things in the economy to obama.

They said the economy would tank in 2017 after Trump did away with obama era regulations.

Never did, economy is still going great. The November jobs numbers were outstanding. Oooops, that was all due to obama.

Now, here come these little posts that now claim the economy is doing bad. They cheer for that btw and that indisputable.

However, the economy is doing great and there will always be ebbs and flows with the economy .


Now, anyone should be nervous about the economy with the democrats pushing propaganda like they did in 2006 to capture the House and Senate.

Then they deliberately sabotaged the economy that was going great under Bush till 2006 (unemployment rate is 4.6) and then the democommies took over power in 2007.

Let the stupid left explain these facts. Stupid Mac never does.

2007

• August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, the White House, 8/9/07)
  
  
• August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07)
  
  
• December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, the White House, 12/6/07)

2008

• February: Assistant Treasury Secretary David Nason reiterates the urgency of reforms, saying "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
  
  
• March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
  
  
• April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
  
  
• May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
  • "Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)
    
    
  • "[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
    
    
  • "Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)
• June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
  
  
• July: Congress heeds the President's call for action and passes reform legislation for Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
  
  
• September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Dodd questions "why weren't we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years." (Dawn Kopecki, "Fannie Mae, Freddie 'House Of Cards' Prompts Takeover," Bloomberg, 9/9/08)

Can they explain any of that? Those are the facts.

Here they are again, convincing us that they are the Robin Hoods.

They are the demons people. They are not liberals. We should stop calling them that.

Why would anyone predict the economy would tank in 2017 if the economy was already tanking all thru out the Obama years ??

At least that is what Trumpers believe, since they hate math so much

First of all you did not address the facts in regards to how the democrats deliberately sabotaged the economy. Unless you have another explanation as to how the economy took a dive AFTER the democommies took over power in 2007 and then lost the House in 2010.

Want to discuss who rewrote the Community Reinvestment Act and turned it into affirmative action loans?

Want to know why banks were forced to give out bad loans to unqualified "people?" Here, this may help answer why.



Here, explain this. The democrats caused the bubble. and then they sabotaged the economy.



Go ahead and explain that. I will know if you have not watched those.

As for the "obama" era economy. The economy that was wrecked by the democrats started to turn around only after they started losing the House and Senate.

As for the obama economy, here read this if you can:

During his final news conference of 2016, in mid-December, President Obama criticized Democratic efforts during the election. “Where Democrats are characterized as coastal, liberal, latte-sipping, you know, politically correct, out-of-touch folks,” Obama said, “we have to be in those communities.” In fact, he went on, being in those communities — “going to fish-fries and sitting in VFW halls and talking to farmers” — is how, by his account, he became president. It’s true that Obama is skilled at projecting a populist image; he beat Hillary Clinton in Iowa in 2008, for instance, partly by attacking agriculture monopolies .

But Obama can’t place the blame for Clinton’s poor performance purely on her campaign. On the contrary, the past eight years of policymaking have damaged Democrats at all levels. Recovering Democratic strength will require the party’s leaders to come to terms with what it has become — and the role Obama played in bringing it to this point.

Two key elements characterized the kind of domestic political economy the administration pursued: The first was the foreclosure crisis and the subsequent bank bailouts. The resulting policy framework of Tim Geithner’s Treasury Department was, in effect, a wholesale attack on the American home (the main store of middle-class wealth) in favor of concentrated financial power. The second was the administration’s pro-monopoly policies, which crushed the rural areas that in 2016 lost voter turnout and swung to Donald Trump.

Obama didn’t cause the financial panic, and he is only partially responsible for the bailouts, as most of them were passed before he was elected. But financial collapses, while bad for the country, are opportunities for elected leaders to reorganize our culture. Franklin Roosevelt took a frozen banking system and created the New Deal. Ronald Reagan used the sharp recession of the early 1980s to seriously damage unions. In January 2009, Obama had overwhelming Democratic majorities in Congress, $350 billion of no-strings-attached bailout money and enormous legal latitude. What did he do to reshape a country on its back?

First, he saved the financial system. A financial system in collapse has to allocate losses. In this case, big banks and homeowners both experienced losses, and it was up to the Obama administration to decide who should bear those burdens. Typically, such losses would be shared between debtors and creditors, through a deal like the Home Owners Loan Corporation in the 1930s or bankruptcy reform. But the Obama administration took a different approach. Rather than forcing some burden-sharing between banks and homeowners through bankruptcy reform or debt relief, Obama prioritized creditor rights, placing most of the burden on borrowers. This kept big banks functional and ensured that financiers would maintain their positions in the recovery. At a 2010 hearing, Damon Silvers, vice chairman of the independent Congressional Oversight Panel, which was created to monitor the bailouts, told Obama’s Treasury Department: “We can either have a rational resolution to the foreclosure crisis, or we can preserve the capital structure of the banks. We can’t do both.”

Second, Obama’s administration let big-bank executives off the hook for their roles in the crisis. Sen. Carl Levin (D-Mich.) referred criminal cases to the Justice Department and was ignored. Whistleblowers from the government and from large banks noted a lack of appetite among prosecutors. In 2012, then-Attorney General Eric Holder ordered prosecutors not to go after mega-bank HSBC for money laundering. Using prosecutorial discretion to not take bank executives to task, while legal, was neither moral nor politically wise; in a 2013 poll, more than half of Americans still said they wanted the bankers behind the crisis punished. But the Obama administration failed to act, and this pattern seems to be continuing. No one, for instance, from Wells Fargo has been indicted for mass fraud in opening fake accounts.................

Read on....

Democrats can’t win until they recognize how bad Obama’s financial policies were | Open Markets Institute

I doubt all of my work to educate you worked. You will just cling to your propaganda.

I always wonder why you global warmers who want to get rid of all fossil fuels always use fossil fuels so much.

Can you explain why you all do that?

 

[sparky]

Oooh, is this where the left.....try to keep up with this now...

They credit all of the good things in the economy to obama.

They said the economy would tank in 2017 after Trump did away with obama era regulations.

Never did, economy is still going great. The November jobs numbers were outstanding. Oooops, that was all due to obama.

Now, here come these little posts that now claim the economy is doing bad. They cheer for that btw and that indisputable.

However, the economy is doing great and there will always be ebbs and flows with the economy .


Now, anyone should be nervous about the economy with the democrats pushing propaganda like they did in 2006 to capture the House and Senate.

Then they deliberately sabotaged the economy that was going great under Bush till 2006 (unemployment rate is 4.6) and then the democommies took over power in 2007.

Let the stupid left explain these facts. Stupid Mac never does.

2007

• August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, the White House, 8/9/07)
  
  
• August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07)
  
  
• December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, the White House, 12/6/07)

2008

• February: Assistant Treasury Secretary David Nason reiterates the urgency of reforms, saying "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
  
  
• March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
  
  
• April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
  
  
• May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
  • "Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)
    
    
  • "[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
    
    
  • "Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)
• June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
  
  
• July: Congress heeds the President's call for action and passes reform legislation for Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
  
  
• September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Dodd questions "why weren't we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years." (Dawn Kopecki, "Fannie Mae, Freddie 'House Of Cards' Prompts Takeover," Bloomberg, 9/9/08)

Can they explain any of that? Those are the facts.

Here they are again, convincing us that they are the Robin Hoods.

They are the demons people. They are not liberals. We should stop calling them that.

Why would anyone predict the economy would tank in 2017 if the economy was already tanking all thru out the Obama years ??

At least that is what Trumpers believe, since they hate math so much

First of all you did not address the facts in regards to how the democrats deliberately sabotaged the economy. Unless you have another explanation as to how the economy took a dive AFTER the democommies took over power in 2007 and then lost the House in 2010.

Want to discuss who rewrote the Community Reinvestment Act and turned it into affirmative action loans?

Want to know why banks were forced to give out bad loans to unqualified "people?" Here, this may help answer why.



Here, explain this. The democrats caused the bubble. and then they sabotaged the economy.



Go ahead and explain that. I will know if you have not watched those.

As for the "obama" era economy. The economy that was wrecked by the democrats started to turn around only after they started losing the House and Senate.

As for the obama economy, here read this if you can:

During his final news conference of 2016, in mid-December, President Obama criticized Democratic efforts during the election. “Where Democrats are characterized as coastal, liberal, latte-sipping, you know, politically correct, out-of-touch folks,” Obama said, “we have to be in those communities.” In fact, he went on, being in those communities — “going to fish-fries and sitting in VFW halls and talking to farmers” — is how, by his account, he became president. It’s true that Obama is skilled at projecting a populist image; he beat Hillary Clinton in Iowa in 2008, for instance, partly by attacking agriculture monopolies .

But Obama can’t place the blame for Clinton’s poor performance purely on her campaign. On the contrary, the past eight years of policymaking have damaged Democrats at all levels. Recovering Democratic strength will require the party’s leaders to come to terms with what it has become — and the role Obama played in bringing it to this point.

Two key elements characterized the kind of domestic political economy the administration pursued: The first was the foreclosure crisis and the subsequent bank bailouts. The resulting policy framework of Tim Geithner’s Treasury Department was, in effect, a wholesale attack on the American home (the main store of middle-class wealth) in favor of concentrated financial power. The second was the administration’s pro-monopoly policies, which crushed the rural areas that in 2016 lost voter turnout and swung to Donald Trump.

Obama didn’t cause the financial panic, and he is only partially responsible for the bailouts, as most of them were passed before he was elected. But financial collapses, while bad for the country, are opportunities for elected leaders to reorganize our culture. Franklin Roosevelt took a frozen banking system and created the New Deal. Ronald Reagan used the sharp recession of the early 1980s to seriously damage unions. In January 2009, Obama had overwhelming Democratic majorities in Congress, $350 billion of no-strings-attached bailout money and enormous legal latitude. What did he do to reshape a country on its back?

First, he saved the financial system. A financial system in collapse has to allocate losses. In this case, big banks and homeowners both experienced losses, and it was up to the Obama administration to decide who should bear those burdens. Typically, such losses would be shared between debtors and creditors, through a deal like the Home Owners Loan Corporation in the 1930s or bankruptcy reform. But the Obama administration took a different approach. Rather than forcing some burden-sharing between banks and homeowners through bankruptcy reform or debt relief, Obama prioritized creditor rights, placing most of the burden on borrowers. This kept big banks functional and ensured that financiers would maintain their positions in the recovery. At a 2010 hearing, Damon Silvers, vice chairman of the independent Congressional Oversight Panel, which was created to monitor the bailouts, told Obama’s Treasury Department: “We can either have a rational resolution to the foreclosure crisis, or we can preserve the capital structure of the banks. We can’t do both.”

Second, Obama’s administration let big-bank executives off the hook for their roles in the crisis. Sen. Carl Levin (D-Mich.) referred criminal cases to the Justice Department and was ignored. Whistleblowers from the government and from large banks noted a lack of appetite among prosecutors. In 2012, then-Attorney General Eric Holder ordered prosecutors not to go after mega-bank HSBC for money laundering. Using prosecutorial discretion to not take bank executives to task, while legal, was neither moral nor politically wise; in a 2013 poll, more than half of Americans still said they wanted the bankers behind the crisis punished. But the Obama administration failed to act, and this pattern seems to be continuing. No one, for instance, from Wells Fargo has been indicted for mass fraud in opening fake accounts.................

Read on....

Democrats can’t win until they recognize how bad Obama’s financial policies were | Open Markets Institute

I doubt all of my work to educate you worked. You will just cling to your propaganda.

I always wonder why you global warmers who want to get rid of all fossil fuels always use fossil fuels so much.

Can you explain why you all do that?

Not one mention of the key legislative element that was the crux of the housing problem Owl?

~S~

 

[Biff_Poindexter]

Why would anyone predict the economy would tank in 2017 if the economy was already tanking all thru out the Obama years ??

Because it's cyclical, with only the top elites getting a chair when the music stops Biff

~S~

So according to these charts......does that mean economy was fine during Bush, but started tanking thru the Obama years and now its fine again?? Because that is what Trumpers claim....

 

[sparky]

So according to these charts

According to those charts, any sitting potus is simply living an economy in flux w/many prior factors and legislations coming to fruition Biff

~S~

 

[Biff_Poindexter]

Oooh, is this where the left.....try to keep up with this now...

They credit all of the good things in the economy to obama.

They said the economy would tank in 2017 after Trump did away with obama era regulations.

Never did, economy is still going great. The November jobs numbers were outstanding. Oooops, that was all due to obama.

Now, here come these little posts that now claim the economy is doing bad. They cheer for that btw and that indisputable.

However, the economy is doing great and there will always be ebbs and flows with the economy .


Now, anyone should be nervous about the economy with the democrats pushing propaganda like they did in 2006 to capture the House and Senate.

Then they deliberately sabotaged the economy that was going great under Bush till 2006 (unemployment rate is 4.6) and then the democommies took over power in 2007.

Let the stupid left explain these facts. Stupid Mac never does.

2007

• August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, the White House, 8/9/07)
  
  
• August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07)
  
  
• December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, the White House, 12/6/07)

2008

• February: Assistant Treasury Secretary David Nason reiterates the urgency of reforms, saying "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
  
  
• March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
  
  
• April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
  
  
• May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
  • "Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)
    
    
  • "[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
    
    
  • "Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)
• June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
  
  
• July: Congress heeds the President's call for action and passes reform legislation for Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
  
  
• September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Dodd questions "why weren't we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years." (Dawn Kopecki, "Fannie Mae, Freddie 'House Of Cards' Prompts Takeover," Bloomberg, 9/9/08)

Can they explain any of that? Those are the facts.

Here they are again, convincing us that they are the Robin Hoods.

They are the demons people. They are not liberals. We should stop calling them that.

Why would anyone predict the economy would tank in 2017 if the economy was already tanking all thru out the Obama years ??

At least that is what Trumpers believe, since they hate math so much

First of all you did not address the facts in regards to how the democrats deliberately sabotaged the economy. Unless you have another explanation as to how the economy took a dive AFTER the democommies took over power in 2007 and then lost the House in 2010.

Want to discuss who rewrote the Community Reinvestment Act and turned it into affirmative action loans?

Want to know why banks were forced to give out bad loans to unqualified "people?" Here, this may help answer why.



Here, explain this. The democrats caused the bubble. and then they sabotaged the economy.



Go ahead and explain that. I will know if you have not watched those.

As for the "obama" era economy. The economy that was wrecked by the democrats started to turn around only after they started losing the House and Senate.

As for the obama economy, here read this if you can:

During his final news conference of 2016, in mid-December, President Obama criticized Democratic efforts during the election. “Where Democrats are characterized as coastal, liberal, latte-sipping, you know, politically correct, out-of-touch folks,” Obama said, “we have to be in those communities.” In fact, he went on, being in those communities — “going to fish-fries and sitting in VFW halls and talking to farmers” — is how, by his account, he became president. It’s true that Obama is skilled at projecting a populist image; he beat Hillary Clinton in Iowa in 2008, for instance, partly by attacking agriculture monopolies .

But Obama can’t place the blame for Clinton’s poor performance purely on her campaign. On the contrary, the past eight years of policymaking have damaged Democrats at all levels. Recovering Democratic strength will require the party’s leaders to come to terms with what it has become — and the role Obama played in bringing it to this point.

Two key elements characterized the kind of domestic political economy the administration pursued: The first was the foreclosure crisis and the subsequent bank bailouts. The resulting policy framework of Tim Geithner’s Treasury Department was, in effect, a wholesale attack on the American home (the main store of middle-class wealth) in favor of concentrated financial power. The second was the administration’s pro-monopoly policies, which crushed the rural areas that in 2016 lost voter turnout and swung to Donald Trump.

Obama didn’t cause the financial panic, and he is only partially responsible for the bailouts, as most of them were passed before he was elected. But financial collapses, while bad for the country, are opportunities for elected leaders to reorganize our culture. Franklin Roosevelt took a frozen banking system and created the New Deal. Ronald Reagan used the sharp recession of the early 1980s to seriously damage unions. In January 2009, Obama had overwhelming Democratic majorities in Congress, $350 billion of no-strings-attached bailout money and enormous legal latitude. What did he do to reshape a country on its back?

First, he saved the financial system. A financial system in collapse has to allocate losses. In this case, big banks and homeowners both experienced losses, and it was up to the Obama administration to decide who should bear those burdens. Typically, such losses would be shared between debtors and creditors, through a deal like the Home Owners Loan Corporation in the 1930s or bankruptcy reform. But the Obama administration took a different approach. Rather than forcing some burden-sharing between banks and homeowners through bankruptcy reform or debt relief, Obama prioritized creditor rights, placing most of the burden on borrowers. This kept big banks functional and ensured that financiers would maintain their positions in the recovery. At a 2010 hearing, Damon Silvers, vice chairman of the independent Congressional Oversight Panel, which was created to monitor the bailouts, told Obama’s Treasury Department: “We can either have a rational resolution to the foreclosure crisis, or we can preserve the capital structure of the banks. We can’t do both.”

Second, Obama’s administration let big-bank executives off the hook for their roles in the crisis. Sen. Carl Levin (D-Mich.) referred criminal cases to the Justice Department and was ignored. Whistleblowers from the government and from large banks noted a lack of appetite among prosecutors. In 2012, then-Attorney General Eric Holder ordered prosecutors not to go after mega-bank HSBC for money laundering. Using prosecutorial discretion to not take bank executives to task, while legal, was neither moral nor politically wise; in a 2013 poll, more than half of Americans still said they wanted the bankers behind the crisis punished. But the Obama administration failed to act, and this pattern seems to be continuing. No one, for instance, from Wells Fargo has been indicted for mass fraud in opening fake accounts.................

Read on....

Democrats can’t win until they recognize how bad Obama’s financial policies were | Open Markets Institute

I doubt all of my work to educate you worked. You will just cling to your propaganda.

I always wonder why you global warmers who want to get rid of all fossil fuels always use fossil fuels so much.

Can you explain why you all do that?

You need to actually read your copy and paste jobs..your drivel has been totally debunked....blaming poor people getting mortgage loans is typical of conservatives, but that isn't what crashed the economy...

You know its bad when even Forbes calls your delusion bullshit...or are you going to claim that Forbes magazine are a bunch of libs??

The Lie That Won't Die: 'Poor Borrowers Caused The Financial Crisis'

Let’s first be clear about what the CRA does and doesn’t do. It simply means that if you open a branch office in a low income neighborhood and collect deposits there, you are OBLIGATED to do a certain amount of lending in that neighborhood. In other words, you can’t open a branch office in some poor neighborhood in Harlem and use all of the deposits from there to only fund loans in high-end Manhattan. Now I know you dic suckers hate regulations -- but the CRA isn't what caused the financial collapse...

But like I said....dic suckers like you love to scapegoat the poor at all times.....


Scapegoating poor people for the housing crash is dumb. This study shows just how dumb.

 

[Theowl32]

Oooh, is this where the left.....try to keep up with this now...

They credit all of the good things in the economy to obama.

They said the economy would tank in 2017 after Trump did away with obama era regulations.

Never did, economy is still going great. The November jobs numbers were outstanding. Oooops, that was all due to obama.

Now, here come these little posts that now claim the economy is doing bad. They cheer for that btw and that indisputable.

However, the economy is doing great and there will always be ebbs and flows with the economy .


Now, anyone should be nervous about the economy with the democrats pushing propaganda like they did in 2006 to capture the House and Senate.

Then they deliberately sabotaged the economy that was going great under Bush till 2006 (unemployment rate is 4.6) and then the democommies took over power in 2007.

Let the stupid left explain these facts. Stupid Mac never does.

2007

• August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, the White House, 8/9/07)
  
  
• August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07)
  
  
• December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, the White House, 12/6/07)

2008

• February: Assistant Treasury Secretary David Nason reiterates the urgency of reforms, saying "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
  
  
• March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
  
  
• April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
  
  
• May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
  • "Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)
    
    
  • "[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
    
    
  • "Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)
• June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
  
  
• July: Congress heeds the President's call for action and passes reform legislation for Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
  
  
• September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Dodd questions "why weren't we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years." (Dawn Kopecki, "Fannie Mae, Freddie 'House Of Cards' Prompts Takeover," Bloomberg, 9/9/08)

Can they explain any of that? Those are the facts.

Here they are again, convincing us that they are the Robin Hoods.

They are the demons people. They are not liberals. We should stop calling them that.

Why would anyone predict the economy would tank in 2017 if the economy was already tanking all thru out the Obama years ??

At least that is what Trumpers believe, since they hate math so much

First of all you did not address the facts in regards to how the democrats deliberately sabotaged the economy. Unless you have another explanation as to how the economy took a dive AFTER the democommies took over power in 2007 and then lost the House in 2010.

Want to discuss who rewrote the Community Reinvestment Act and turned it into affirmative action loans?

Want to know why banks were forced to give out bad loans to unqualified "people?" Here, this may help answer why.



Here, explain this. The democrats caused the bubble. and then they sabotaged the economy.



Go ahead and explain that. I will know if you have not watched those.

As for the "obama" era economy. The economy that was wrecked by the democrats started to turn around only after they started losing the House and Senate.

As for the obama economy, here read this if you can:

During his final news conference of 2016, in mid-December, President Obama criticized Democratic efforts during the election. “Where Democrats are characterized as coastal, liberal, latte-sipping, you know, politically correct, out-of-touch folks,” Obama said, “we have to be in those communities.” In fact, he went on, being in those communities — “going to fish-fries and sitting in VFW halls and talking to farmers” — is how, by his account, he became president. It’s true that Obama is skilled at projecting a populist image; he beat Hillary Clinton in Iowa in 2008, for instance, partly by attacking agriculture monopolies .

But Obama can’t place the blame for Clinton’s poor performance purely on her campaign. On the contrary, the past eight years of policymaking have damaged Democrats at all levels. Recovering Democratic strength will require the party’s leaders to come to terms with what it has become — and the role Obama played in bringing it to this point.

Two key elements characterized the kind of domestic political economy the administration pursued: The first was the foreclosure crisis and the subsequent bank bailouts. The resulting policy framework of Tim Geithner’s Treasury Department was, in effect, a wholesale attack on the American home (the main store of middle-class wealth) in favor of concentrated financial power. The second was the administration’s pro-monopoly policies, which crushed the rural areas that in 2016 lost voter turnout and swung to Donald Trump.

Obama didn’t cause the financial panic, and he is only partially responsible for the bailouts, as most of them were passed before he was elected. But financial collapses, while bad for the country, are opportunities for elected leaders to reorganize our culture. Franklin Roosevelt took a frozen banking system and created the New Deal. Ronald Reagan used the sharp recession of the early 1980s to seriously damage unions. In January 2009, Obama had overwhelming Democratic majorities in Congress, $350 billion of no-strings-attached bailout money and enormous legal latitude. What did he do to reshape a country on its back?

First, he saved the financial system. A financial system in collapse has to allocate losses. In this case, big banks and homeowners both experienced losses, and it was up to the Obama administration to decide who should bear those burdens. Typically, such losses would be shared between debtors and creditors, through a deal like the Home Owners Loan Corporation in the 1930s or bankruptcy reform. But the Obama administration took a different approach. Rather than forcing some burden-sharing between banks and homeowners through bankruptcy reform or debt relief, Obama prioritized creditor rights, placing most of the burden on borrowers. This kept big banks functional and ensured that financiers would maintain their positions in the recovery. At a 2010 hearing, Damon Silvers, vice chairman of the independent Congressional Oversight Panel, which was created to monitor the bailouts, told Obama’s Treasury Department: “We can either have a rational resolution to the foreclosure crisis, or we can preserve the capital structure of the banks. We can’t do both.”

Second, Obama’s administration let big-bank executives off the hook for their roles in the crisis. Sen. Carl Levin (D-Mich.) referred criminal cases to the Justice Department and was ignored. Whistleblowers from the government and from large banks noted a lack of appetite among prosecutors. In 2012, then-Attorney General Eric Holder ordered prosecutors not to go after mega-bank HSBC for money laundering. Using prosecutorial discretion to not take bank executives to task, while legal, was neither moral nor politically wise; in a 2013 poll, more than half of Americans still said they wanted the bankers behind the crisis punished. But the Obama administration failed to act, and this pattern seems to be continuing. No one, for instance, from Wells Fargo has been indicted for mass fraud in opening fake accounts.................

Read on....

Democrats can’t win until they recognize how bad Obama’s financial policies were | Open Markets Institute

I doubt all of my work to educate you worked. You will just cling to your propaganda.

I always wonder why you global warmers who want to get rid of all fossil fuels always use fossil fuels so much.

Can you explain why you all do that?

You need to actually read your copy and paste jobs..your drivel has been totally debunked....blaming poor people getting mortgage loans is typical of conservatives, but that isn't what crashed the economy...

You know its bad when even Forbes calls your delusion bullshit...or are you going to claim that Forbes magazine are a bunch of libs??

The Lie That Won't Die: 'Poor Borrowers Caused The Financial Crisis'

Let’s first be clear about what the CRA does and doesn’t do. It simply means that if you open a branch office in a low income neighborhood and collect deposits there, you are OBLIGATED to do a certain amount of lending in that neighborhood. In other words, you can’t open a branch office in some poor neighborhood in Harlem and use all of the deposits from there to only fund loans in high-end Manhattan. Now I know you dic suckers hate regulations -- but the CRA isn't what caused the financial collapse...

But like I said....dic suckers like you love to scapegoat the poor at all times.....


Scapegoating poor people for the housing crash is dumb. This study shows just how dumb.

You are a loser. Not blaming the loaners idiot. Blaming the fact that banks were put under enormous pressure to give out loans to those unqualified buyers.

Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in "credit-deprived" areas. ... These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down-payments by 2000.May 28, 2016

Kudlow: Are the Clintons the real housing crash villains?

Do you even know who passed the Commodity Futures Modernization Act? Look it up idiot.

Here is a hint about that. That was a bipartisan bill.

Moron.

 

[Aletheia4u]

because these companies went out of business because of poor management. That it doesn't means that the economy is going down. This is fake news just to get the public worry about the economy. So that they will think that pres.Trump is unfit to be president. If you want to know how the trucking companies are doing. Just drive on the highways, and you'll see that there are more trucks on the roads than cars. And so, ignore these stories of failing truck companies. Remember, Amazon and George Soros that owns J.B. Hunts, are trying to put other truck companies out of business, so that they can hire drivers at a low wage.

US Trucking News: The US truck driver shortage

Will the Trucker Shortage Continue in 2019?

https://www.washingtonpost.com/news...ver-shortage-heres-why-few-want-an-80000-job/