New Study Finds Democrats Fully to Blame for Subprime Mortgage Crisis

[healthmyths]

LOL. The truth is well known to most American Voters. That is why our President was re-elected. We know who created the economic debacle of 2008. And it was not the Dems.

But by going back and trying to re-write history, the GOP is once again demonstrating the basic dishonesty that their now extremist positions have forced them into. And the voters in our nation recognized that extremism for what it is.

NO you f...king idiot!
HERE are the people that rewrite what YOU and other idiots believe!
The Democratic total of $1,020,816 was given by 1,160 employees of the three major broadcast television networks,
with an average contribution of $880.

By contrast, only 193 of the employees contributed to Republican candidates and campaign committees, for a total of $142,863.
The average Republican contribution was $744.
Obama, Democrats got 88 percent of 2008 contributions by TV network execs, writers, reporters | The Daily Caller

85% of the 1,353 employees three major broadcast television networks gave to the Democrats.. geez.. do you think they might be a little biased?????

NOW you tell me the majority of Voters for Obama KNOW THAT??? Do they know the MSM bias has been the cause of their economic demise?
Fortunately these networks and biased MSM are losing their audiences for a REASON!
The growing number of people that recognize that Obama/Democrats have been LYING through their teeth and the MSM has been protecting them!


Said Pew, "The overall ratings for the performance of the news media are quite negative: Fully 66% say news stories often are inaccurate, 77 % think that news organizations tend to favor one side, and 80% say news organizations are often influenced by powerful people and organizations. The percentage saying that news stories are often inaccurate has risen 13 points since 2007, with much of the increase coming among Democrats and independents."

SO for you real simpletons here!!!
A) If 85% of employees at three major networks GAVE MONEY to Democrats... YOU don't naively think they don't bias their news?
B) The general public is gradually now at 6677% say news favors one side!

DUH! Doesn't that explain the majority of Americans NOT YET awake to the criminal behavior of the Obama/Democrats in America?

 

[Lakhota]

[ame=http://www.youtube.com/watch?feature=player_detailpage&v=vn_PSJsl0LQ]Jerry, just remember. It's not a lie... if you believe it... - YouTube[/ame]

 

[daveman]

Jerry, just remember. It's not a lie... if you believe it... - YouTube

Well, that explains progressives...

 

[NYcarbineer]

Interesting stuff if you dig through the links.

Consider this statement:


"Other large banks have reported serious delinquency rates on CRA home loans. Bank of America's 2009 10-K states: "Our CRA portfolio comprised 6% of the total residential mortgage balances, but 17% of nonperforming residential mortgage loans.""

Now at first glance you might say, if you believe the above information, that shows that CRA loans were problematic.

But, look at the numbers. Bank of America is saying that 17% of its nonperforming residential mortgage loans were CRA loans...

...that means that 83% of its non-performing loans, i.e., 83% of its problem, was in NON-CRA loans.




Read More At IBD: New Study Blames Community Reinvestment Act For Mortgage Defaults - Investors.com

 

[Nole]

let me be the first to say the left was a part of the problem here, to say otherwise is just silly.

Im a hard core Democrat and I will say, we were wrong here and do deserve a lot of blame. Sure, we thought if we could get the banks to lower their lending standers good things would happen. Us progressives were taken to the bank, no pun intended. The Banks robbed us all blind and were worse off for it.

So, there you have it. Ill admit the lefts fault in this. However, at some point the rest of the payers have to take blame and stand up as well.

 

[Politico]

The Democrats did it? And all this time I thought it was dumbasses taking out loans they knew they couldn't afford.

 

[thereisnospoon]

by Jim Hoft at Human Events blogs posts this absolutely shocking item:

In his early activist days, Barack Obama the community organizer sued banks to ease lending practices.

State Sen. Barack Obama and Fr. Michael Pfleger led a protest against the payday loan industry demanding the State of Illinois to regulate loan businesses in January 2000. During his time as a community organizer Barack Obama led several protests against banks to make loans to high risk individuals. (NBC 5 Week of January 3, 2000)

Here’s something that won’t get any play in the liberal media…
A new study by the respected National Bureau of Economic Research found that Democrats are to blame for the subprime mortgage crisis.
Investor’s Business Daily reported:

Read more @ New Study Finds Democrats Fully to Blame for Subprime Mortgage Crisis | Conservative News, Views & Books

This is a new study which reveals old news.

 

[thereisnospoon]

Already been a thread on this debunked bullshit. http://www.usmessageboard.com/polit...nfirms-democrats-crashed-the-economy-duh.html

Yeah well tough shit. We're gonna keep hammering away at this issue for as long as it takes to fully expose democrat culpability for crashing the real estate marketplace.

 

[Nole]

Yeah well tough shit. We're gonna keep hammering away at this issue for as long as it takes to fully expose democrat culpability for crashing the real estate marketplace.

Just like us Democrats wont let the Bush disaster be forgotten, early and often. Game on dude.

 

[BallsBrunswick]

Already been a thread on this debunked bullshit. http://www.usmessageboard.com/polit...nfirms-democrats-crashed-the-economy-duh.html

Yeah well tough shit. We're gonna keep hammering away at this issue for as long as it takes to fully expose democrat culpability for crashing the real estate marketplace.

Keep screaming until you hope everyone believes it's true? That's a new strategy for the right wing...

 

[Si modo]

The Dems fought tooth and nail to have regulations loosened for mortgages. They got exactly that and now the USA has "toxic assets".

Awesome. One of the few solid investments is now toxic, thanks to Dems.

 

[thereisnospoon]

.

Anyone who thinks the Meltdown of 2008 can be simplistically blamed on just one group of people is either profoundly under-informed or operating in abject partisan denial.

Maybe both.

.

Oversimplification is a trait unique to liberalism.
2008 was the RESULT....Government initiatives such as the Community Reinvestment Act, the creation of Fannie/Freddie and other regulations were the sole reason behind the real estate crash.
The geniuses up on Capitol Hill decided it was a grand idea to manipulate and manufacture the marketplace.
Good intentions pave the way to hell.

 

[Nole]

Oversimplification is a trait unique to liberalism.

lol, says the same type that got us into Iraq part duex. Good one! At any rate, Obama was only the second POTUS to be voted on with unemployment over 8% since FDR. Things are changing, and it dont look good for the GOP. thank the gods.

 

[uscitizen]

The republicans accept no blame at all for anything.

The party of personal respionsibility.

 

[Lakhota]

Home loans didn't bring on the recession; gimmicky financial instruments bloated to 100 times their value are what caused all this pain.

The Absurd Zombie Lie About the Economy Right-Wingers Desperately Cling To -- And Why It's Totally Wrong | Alternet

 

[uscitizen]

[ame=http://www.youtube.com/watch?v=ugeqexHzVNQ]President Bush Discusses Homeownership Financing - YouTube[/ame]

2007

 

[uscitizen]

[ame=http://www.youtube.com/watch?v=t-fFj-ujuB4]Bush explains TARP - YouTube[/ame]

2008

 

[Chris]

Wall Street ran a derivatives Ponzi scheme which destroyed the world economy.

How did 3% of American mortgages being in foreclosure bring down the economy of Iceland?

 

[Chris]

A £516 trillion derivatives ‘time-bomb’

Not for nothing did US billionaire Warren Buffett call them the real ‘weapons of mass destruction’

By Margareta Pagano and Simon Evans
12 October 12 2008

The market is worth more than $516 trillion, (£303 trillion), roughly 10 times the value of the entire world’s output: it’s been called the “ticking time-bomb”.

It’s a market in which the lead protagonists – typically aggressive, highly educated, and now wealthy young men – have flourished in the derivatives boom. But it’s a market that is set to come to a crashing halt – the Great Unwind has begun.

Last week the beginning of the end started for many hedge funds with the combination of diving market values and worried investors pulling out their cash for safer climes.

Some of the world’s biggest hedge funds – SAC Capital, Lone Pine and Tiger Global – all revealed they were sitting on double-digit losses this year. September’s falls wiped out any profits made in the rest of the year. Polygon, once a darling of the London hedge fund circuit, last week said it was capping the basic salaries of its managers to £100,000 each. Not bad for the average punter but some way off the tens of millions plundered by these hotshots during the good times. But few will be shedding any tears.

The complex and opaque derivatives markets in which these hedge funds played has been dubbed the world’s biggest black hole because they operate outside of the grasp of governments, tax inspectors and regulators. They operate in a parallel, shadow world to the rest of the banking system. They are private contracts between two companies or institutions which can’t be controlled or properly assessed. In themselves derivative contracts are not dangerous, but if one of them should go wrong – the bad 2 per cent as it’s been called – then it is the domino effect which could be so enormous and scary.

A £516 trillion derivatives ‘time-bomb’ « Did You Know

 

[uscitizen]

[ame=http://www.youtube.com/watch?v=bT29fq0slGc]Wall Street Got Drunk - YouTube[/ame]

2008