Unexpectedly: The New York Times discovers that many don’t have to work in the age of Obama

[francoHFW]

more messages from Pub Bizarro world... Dems made it possible for poor and minorities, corrupt Pub regulators made ANYONE including the UNEMPLOYED lol eligible for SCAM mortgages. How's the weather on your planet, brainwashed dupes?

Tortured logic at its finest ....

I admire and respect your "opinion". It's called the real world, ignorant dupe. Any actual argument? Give us the talking point or a stupid insult...

Ok ... allow me to show you the many flaws in your logic. Just remember, you asked for this ...

Dems made it possible for poor and minorities, -

If you look at history, which you apparently didn't, you will see that, you're right. Dems made it possible for the poor and minorities to get mortgages they couldn't ever afford. They did this legislative pressure applied, primarily by Barney Franks and Chris Dodd. The Dems, egged on by left-wing activists, began accusing mortgage lenders of racism and "redlining" because urban blacks were being denied mortgages at a higher rate than suburban whites.

The pressure to make more loans to minorities (read: to borrowers with weak credit histories) became relentless. Congress passed the Community Reinvestment Act, empowering regulators to punish banks that failed to "meet the credit needs" of "low-income, minority, and distressed neighborhoods." Lenders responded by loosening their underwriting standards and making increasingly shoddy loans. The two government-chartered mortgage finance firms, Fannie Mae and Freddie Mac, encouraged this "subprime" lending by authorizing ever more "flexible" criteria by which high-risk borrowers could be qualified for home loans, and then buying up the questionable mortgages that ensued.

All this was justified as a means of increasing home ownership among minorities and the poor. Affirmative-action policies trumped sound business practices. A manual issued by the Federal Reserve Bank advised mortgage lenders to disregard financial common sense. "Lack of credit history should not be seen as a negative factor," the Fed's guidelines instructed. Lenders were directed to accept welfare payments and unemployment benefits as "valid income sources" to qualify for a mortgage. Failure to comply could mean a lawsuit.

corrupt Pub regulators made ANYONE including the UNEMPLOYED lol eligible for SCAM mortgages.

For this inanity, I'll just quote US News & World Report -

"Seventeen. That's how many times, according to this White House statement (hat tip Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Congress has cooperated only once. In spring 2007, as House Financial Services Committee Chairman Barney Frank likes to point out, the House did pass a bill in response. The Senate did not act until 2008; Senate Banking Committee Chairman Christopher Dodd spent most of 2007 camped out in Iowa running for president. The legislation passed by Congress in 2008 enabled Treasury Secretary Henry Paulson to put Fannie and Freddie into federal conservatorship this summer when they failed. But it didn't prevent them from spewing a huge amount of toxic waste, in the form of subprime and Alt-A mortgages, into our financial institutions from 2004 to 2007. As Stephen Spruiell points out in The Corner on National Review Online, Fannie and Freddie spewed out $1 trillion worth (face value) of subprime mortgages between 2005 and 2007. That's a whole lot of toxic waste. For more detail, consult the items referred to in my previous blogpost on this subject (most of the comments seem to have been disputes about the plot line of the movie It's a Wonderful Life, which I should think could be settled by consulting a reference work).

Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and opposed by all the Democrats in the Senate Banking Committee in 2005. That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. The GSEs' mission allegedly justifying their quasi-governmental status was to package or securitize such mortgages, but the lion's share of their profits—which determined top executives' bonuses—came from speculation."

Democrats Were Wrong on Fannie Mae and Freddie Mac - US News

And, as for your last comment:

How's the weather on your planet, brainwashed dupes?

Yeah ---- how IS the weather on your planet? (Hint: This is where you start attacking me, calling me a racist and Republican shill because THESE are facts - indisputable facts - and you really have no other choice).

F+F's share of the market went from 75% to 25% in 2003, and they didn't get in on the action until late, under Pub pressure. Pubs always screw with them and try to end them, never went after their pals in private lending who changed the rules. US News is a bought off, cowardly corporate POS like the networks who've never reported who was at fault, dupe. Only 50%+ of dupes are racists. Maybe you're alright. It's not ALWAYS racism...

If you don't want to have an intelligent discussion, but instead want to have a pissing contest, then I will be happy to oblige. Of course, nothing will come of it ... but then, that will leave you comfortable in your ignorance.

If, on the other hand, you wish to have an adult conversation, I can do that, too.

Your call.

You are misinformed. And that article was not intelligent.

 

[thereisnospoon]

Well clearly our country is not heading in the right direction. We can't have millions of able bodied people sitting around on their ass doing nothing while the rest of us work overtime to pay their bills.

Were we heading in the right direction when we were losing 800,000 jobs a month under Bush?

Non sequitur.
Don't leave out pertinent facts.
But for the democrat induced interference in the real estate marketplace and the collapse of the system due to democrat political ambitions( seeing to it that previously unqualified buyers were made eligible for home loans) none of this would have evert happened.
Obama has been POTUS for almost 6 years. You libbies have had your heads buried in the guy's crack since the 2008 campaign and you still have not come up for air.

 

[francoHFW]

See sig, last line. Typing is a pain. My posts are adult, just pithy. Your opinions deserve disgust, you have plenty of company.

 

[francoHFW]

Well clearly our country is not heading in the right direction. We can't have millions of able bodied people sitting around on their ass doing nothing while the rest of us work overtime to pay their bills.

Were we heading in the right direction when we were losing 800,000 jobs a month under Bush?

Non sequitur.
Don't leave out pertinent facts.
But for the democrat induced interference in the real estate marketplace and the collapse of the system due to democrat political ambitions( seeing to it that previously unqualified buyers were made eligible for home loans) none of this would have evert happened.
Obama has been POTUS for almost 6 years. You libbies have had your heads buried in the guy's crack since the 2008 campaign and you still have not come up for air.

Vulgar idiocy, Pub dupe. THERE WAS NO PROBLEM until Booshies let their pals run WILD in 2003.

 

[thereisnospoon]

Well clearly our country is not heading in the right direction. We can't have millions of able bodied people sitting around on their ass doing nothing while the rest of us work overtime to pay their bills.

Were we heading in the right direction when we were losing 800,000 jobs a month under Bush?

An utterly stupid question, is that supposed to be some Bush vs Obama libtard talking point or something?

It's called "I have nothing to add except my need to argue. So i will play the "it's Bush's fault" card.....]
Fuck her...That stupid little strumpet

 

[saintmichaeldefendthem]

See sig, last line. Typing is a pain. My posts are adult, just pithy. Your opinions deserve disgust, you have plenty of company.

Is English a second language for you?

 

[thereisnospoon]

Well clearly our country is not heading in the right direction. We can't have millions of able bodied people sitting around on their ass doing nothing while the rest of us work overtime to pay their bills.

Were we heading in the right direction when we were losing 800,000 jobs a month under Bush?

Non sequitur.
Don't leave out pertinent facts.
But for the democrat induced interference in the real estate marketplace and the collapse of the system due to democrat political ambitions( seeing to it that previously unqualified buyers were made eligible for home loans) none of this would have evert happened.
Obama has been POTUS for almost 6 years. You libbies have had your heads buried in the guy's crack since the 2008 campaign and you still have not come up for air.

Vulgar idiocy, Pub dupe.

And every point 100% factual......
You are soulless ideological partisan, so it is impossible for you to be embarrassed. You are the "Vacation" movie's Cousin Eddie of USMB....
So I won;t bother burying your stupid ass in facts.

 

[saintmichaeldefendthem]

Well clearly our country is not heading in the right direction. We can't have millions of able bodied people sitting around on their ass doing nothing while the rest of us work overtime to pay their bills.

Were we heading in the right direction when we were losing 800,000 jobs a month under Bush?

Non sequitur.
Don't leave out pertinent facts.
But for the democrat induced interference in the real estate marketplace and the collapse of the system due to democrat political ambitions( seeing to it that previously unqualified buyers were made eligible for home loans) none of this would have evert happened.
Obama has been POTUS for almost 6 years. You libbies have had your heads buried in the guy's crack since the 2008 campaign and you still have not come up for air.

Vulgar idiocy, Pub dupe. THERE WAS NO PROBLEM until Booshies let their pals run WILD in 2003.

Bush derangement syndrome much?

 

[Spare_change]

Tortured logic at its finest ....

I admire and respect your "opinion". It's called the real world, ignorant dupe. Any actual argument? Give us the talking point or a stupid insult...

Ok ... allow me to show you the many flaws in your logic. Just remember, you asked for this ...

Dems made it possible for poor and minorities, -

If you look at history, which you apparently didn't, you will see that, you're right. Dems made it possible for the poor and minorities to get mortgages they couldn't ever afford. They did this legislative pressure applied, primarily by Barney Franks and Chris Dodd. The Dems, egged on by left-wing activists, began accusing mortgage lenders of racism and "redlining" because urban blacks were being denied mortgages at a higher rate than suburban whites.

The pressure to make more loans to minorities (read: to borrowers with weak credit histories) became relentless. Congress passed the Community Reinvestment Act, empowering regulators to punish banks that failed to "meet the credit needs" of "low-income, minority, and distressed neighborhoods." Lenders responded by loosening their underwriting standards and making increasingly shoddy loans. The two government-chartered mortgage finance firms, Fannie Mae and Freddie Mac, encouraged this "subprime" lending by authorizing ever more "flexible" criteria by which high-risk borrowers could be qualified for home loans, and then buying up the questionable mortgages that ensued.

All this was justified as a means of increasing home ownership among minorities and the poor. Affirmative-action policies trumped sound business practices. A manual issued by the Federal Reserve Bank advised mortgage lenders to disregard financial common sense. "Lack of credit history should not be seen as a negative factor," the Fed's guidelines instructed. Lenders were directed to accept welfare payments and unemployment benefits as "valid income sources" to qualify for a mortgage. Failure to comply could mean a lawsuit.

corrupt Pub regulators made ANYONE including the UNEMPLOYED lol eligible for SCAM mortgages.

For this inanity, I'll just quote US News & World Report -

"Seventeen. That's how many times, according to this White House statement (hat tip Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Congress has cooperated only once. In spring 2007, as House Financial Services Committee Chairman Barney Frank likes to point out, the House did pass a bill in response. The Senate did not act until 2008; Senate Banking Committee Chairman Christopher Dodd spent most of 2007 camped out in Iowa running for president. The legislation passed by Congress in 2008 enabled Treasury Secretary Henry Paulson to put Fannie and Freddie into federal conservatorship this summer when they failed. But it didn't prevent them from spewing a huge amount of toxic waste, in the form of subprime and Alt-A mortgages, into our financial institutions from 2004 to 2007. As Stephen Spruiell points out in The Corner on National Review Online, Fannie and Freddie spewed out $1 trillion worth (face value) of subprime mortgages between 2005 and 2007. That's a whole lot of toxic waste. For more detail, consult the items referred to in my previous blogpost on this subject (most of the comments seem to have been disputes about the plot line of the movie It's a Wonderful Life, which I should think could be settled by consulting a reference work).

Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and opposed by all the Democrats in the Senate Banking Committee in 2005. That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. The GSEs' mission allegedly justifying their quasi-governmental status was to package or securitize such mortgages, but the lion's share of their profits—which determined top executives' bonuses—came from speculation."

Democrats Were Wrong on Fannie Mae and Freddie Mac - US News

And, as for your last comment:

How's the weather on your planet, brainwashed dupes?

Yeah ---- how IS the weather on your planet? (Hint: This is where you start attacking me, calling me a racist and Republican shill because THESE are facts - indisputable facts - and you really have no other choice).

F+F's share of the market went from 75% to 25% in 2003, and they didn't get in on the action until late, under Pub pressure. Pubs always screw with them and try to end them, never went after their pals in private lending who changed the rules. US News is a bought off, cowardly corporate POS like the networks who've never reported who was at fault, dupe. Only 50%+ of dupes are racists. Maybe you're alright. It's not ALWAYS racism...

If you don't want to have an intelligent discussion, but instead want to have a pissing contest, then I will be happy to oblige. Of course, nothing will come of it ... but then, that will leave you comfortable in your ignorance.

If, on the other hand, you wish to have an adult conversation, I can do that, too.

Your call.

You are misinformed. And that article was not intelligent.

Oh well !!! If you say so .....

No need to show where it's not intelligent ... after all, you said it ... that's good enough for me.

Give me a break ... step up or shut up.

 

[Spare_change]

See sig, last line. Typing is a pain. My posts are adult, just pithy. Your opinions deserve disgust, you have plenty of company.

Rule No. 4. When lacking a coherent or cogent counter-argument, attack the poster.

 

[thereisnospoon]

Well clearly our country is not heading in the right direction. We can't have millions of able bodied people sitting around on their ass doing nothing while the rest of us work overtime to pay their bills.

Were we heading in the right direction when we were losing 800,000 jobs a month under Bush?

An utterly stupid question, is that supposed to be some Bush vs Obama libtard talking point or something?

22.7 million jobs created under Clinton

1.1 million under Bush

However, at the end of Bush's term, we were losing close to 800,000 jobs per month. You do the math...

The economy was on fire......During the Clinton years, we saw unprecedented growth. Much of which was a contributing factor to the economic slide seen at the very end of Clinton's second term. However, save for the post 9/11 recession,. the 2000's were a robust decade in terms of economy.
Once again, it was the federal government's decision to involve itself in the housing market which cut out the legs of the economy.
And the country was never losing 800,000 jobs per month.
Now unless you are willing to throw blame in Obama's lap for failing to produce policy that reversed the economic malaise ( which we are STILL experiencing), there is nothing more worth debating

 

[thereisnospoon]

Well clearly our country is not heading in the right direction. We can't have millions of able bodied people sitting around on their ass doing nothing while the rest of us work overtime to pay their bills.

Were we heading in the right direction when we were losing 800,000 jobs a month under Bush?

An utterly stupid question, is that supposed to be some Bush vs Obama libtard talking point or something?

22.7 million jobs created under Clinton

1.1 million under Bush

However, at the end of Bush's term, we were losing close to 800,000 jobs per month. You do the math...

I bet you're silly enough to think that the financial meltdown caused by Fanny and Freddie, which was authored, operated, and defended exclusively by Democrats, had nothing to do with it. No, it has to be Bush's fault. You Leftists can lie to yourselves, but you can't lie to us. Did you see the last election?

Considering F+F's share of the market went from 75% to 25% in 2003 when when corrupt Booosh cronies like Countrywide and AIG took over, it's clear you're a brainwashed functional moron. Read something.

What a bunch of bullshit...Fannie and Freddie were just a tool. The federal regulators made new rules for ALL lenders.
If they loaned money for mortgages, they had to do so by CRA rules.

 

[Plasmaball]

Well clearly our country is not heading in the right direction. We can't have millions of able bodied people sitting around on their ass doing nothing while the rest of us work overtime to pay their bills.

i know and a majority of them are older people....

 

[thereisnospoon]

Well clearly our country is not heading in the right direction. We can't have millions of able bodied people sitting around on their ass doing nothing while the rest of us work overtime to pay their bills.

Were we heading in the right direction when we were losing 800,000 jobs a month under Bush?

An utterly stupid question, is that supposed to be some Bush vs Obama libtard talking point or something?

22.7 million jobs created under Clinton

1.1 million under Bush

However, at the end of Bush's term, we were losing close to 800,000 jobs per month. You do the math...

I bet you're silly enough to think that the financial meltdown caused by Fanny and Freddie, which was authored, operated, and defended exclusively by Democrats, had nothing to do with it. No, it has to be Bush's fault. You Leftists can lie to yourselves, but you can't lie to us. Did you see the last election?

Considering F+F's share of the market went from 75% to 25% in 2003 when when corrupt Booosh cronies like Countrywide and AIG took over, it's clear you're a brainwashed functional moron. Read something.

BTW, by 2003 it was already too late. As early as 2001 there were economists asking in fact begging the House and Senate Banking Chairs to look into the runaway lending.
Chris Dodd, Mel Watt, Maxine Watters and Barney Frank all pooh poohed the notion that anything was wrong and that it was more important to keep going down this road....Because of political expepdience

 

[thereisnospoon]

The Vanishing Male Worker: How America Fell Behind


http://www.nytimes.com/2014/12/12/u...-america-fell-behind.html?abt=0002&abg=0&_r=2

Yup, Reaganist pander to the rich bs rolls on, along with Pub obstruction of a perfect-time-for-it jobs/infrastructure act and a training program for 3 million tech jobs going begging. GOOD JOBS! A-hole Pubs and silly chumps like you all. see sig pp1.

Why the fuck do we need government in on this? Another fucking bureaucracy costing us even more taxpayer dollars?
If it is a financially feasible idea, the private sector will handle it. if not, it's not going to happen.
You lefties have been living this lie that government can create jobs out of thin air.....

 

[thereisnospoon]

more messages from Pub Bizarro world... Dems made it possible for poor and minorities, corrupt Pub regulators made ANYONE including the UNEMPLOYED lol eligible for SCAM mortgages. How's the weather on your planet, brainwashed dupes?

Holy shit....You are in a parallel universe.
You don't get to make up your own reality

 

[thereisnospoon]

more messages from Pub Bizarro world... Dems made it possible for poor and minorities, corrupt Pub regulators made ANYONE including the UNEMPLOYED lol eligible for SCAM mortgages. How's the weather on your planet, brainwashed dupes?

Tortured logic at its finest ....

Franco just spews. he knows nothing. He is nothing.

 

[saintmichaeldefendthem]

Well clearly our country is not heading in the right direction. We can't have millions of able bodied people sitting around on their ass doing nothing while the rest of us work overtime to pay their bills.

i know and a majority of them are older people....

No, not really.

 

[thereisnospoon]

Every single person who has posted so far is looking for easy excuses and easy answers. The American economy is broken. Plain and simple. It's not a Bush thing. It's not an Obama thing. It's far more systemic. It's as deep as the very food you eat, every single day.

Our food?
Was there something wrong with the omelette and coffee I had for breakfast?

 

[saintmichaeldefendthem]

Especially fast food.