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- #647 of 1003
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Re: AT least one true reporter isn't fooled... [gagrice]
by fintail
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Oct 20, 2009 (1:19 pm)
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Replying to: gagrice (Oct 20, 2009 1:13 pm)
Depends on which homeowners or businesses this is aimed at. Doesn't say anything about risky or subprime lending.
In a credit-dependent globalized world beholden to international finance, there has to be a better flow of money than what we see now, or we are headed to permanent malaise.
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- #648 of 1003
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Re: AT least one true reporter isn't fooled... [fintail]
by gagrice
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Oct 20, 2009 (3:06 pm)
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Replying to: fintail (Oct 20, 2009 1:18 pm)
I think it will be difficult to find any more corruption than Frank and Dodd with the Fannie Mae & Freddie Mac debacle. I know that many Democrats have pointed their finger at the repeal of Glass Steagal, as somehow having a big impact on the sub prime lending. I just don't buy into that bunk. Many Democrats pushed for easy lending to minorities and low income buyers. How else are you going to get someone making $30k a year into a $250K home, than to push normal lending practices out the door? I don't see anything in the Gramm/Leach bill that offers easy money to people with no possible way to repay. That was totally a Liberal concept that the less than scrupulous bankers ran with. Hoping the government via Fannie Mae would bail them out if the people default. There is a long history of shady bankers being part of the Democrat party. Going back to the Federal Reserve and further. You are going to have to come up with more than your bias against Gramm to convince me that bill had much to do with the sub prime mess. It started with Jimmy Carter and got worse under Clinton and by then the bankers ran over the accepted sound lending practices. If you want to point a finger. Look at Frank Raines, one of Obama's advisors. Along with the others already mentioned that all should be locked up. If the Gramm bill was so bad why did so many Dems vote for it and Clinton sign it?
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- #649 of 1003
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Re: AT least one true reporter isn't fooled... [fintail]
by gagrice
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Oct 20, 2009 (3:12 pm)
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Replying to: fintail (Oct 20, 2009 1:19 pm)
We will just have to wait until tomorrow to find out what Barry has in mind for easy money to home owners. I just read between the lines on the AP article. As there is no problem currently getting a good home loan if all reasonable lending practices are in place. It is only the shaky buyers that are not able to get loans right now. And that is as it should be.
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- #650 of 1003
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Re: AT least one true reporter isn't fooled... [gagrice]
by fintail
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Oct 20, 2009 (3:50 pm)
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Replying to: gagrice (Oct 20, 2009 3:12 pm)
There's probably no such thing as a good home loan in most markets right now, as I do not see an increase in property values in the near term anyway. When the 8K incentive goes away, much false demand will evaporate which will keep prices from rising, and in this economy foreclosures are going to keep coming.
The rumored scheme could simply be easier home equity for those who actually have some.
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- #651 of 1003
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Re: AT least one true reporter isn't fooled... [gagrice]
by fintail
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Oct 20, 2009 (3:53 pm)
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Replying to: gagrice (Oct 20, 2009 3:06 pm)
Google the history of Gramm and get back to me. He's virtually an economic terrorist.
The Dubya regime, in its love of debt and living above one's means, preached about an "ownership society" and routinely touted growing home ownership stats. Where were the doubters then?
Do you deny Gramm should be punished for his amorality and lack of ethics?
"why did so many Dems vote for it and Clinton sign it? "
Why did so many support a lie-and-profit based war? Who knows what stories were told to make the clowns go for it. It's Congress, right?
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- #652 of 1003
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Re: AT least one true reporter isn't fooled... [fintail]
by gagrice
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Oct 20, 2009 (4:45 pm)
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Replying to: fintail (Oct 20, 2009 3:53 pm)
I think you have him highly over rated as a Congressional crook. The Congress past and present have had crooks many times worse. The Late Ted Kennedy and his brother John come to mind. We are obviously not going to agree on the crooks in Congress. I should be the one not trusting Gramm as he started out as a Democrat. Probably one of the Neo-Cons the Democrats pushed over to the GOP as a cover up. His part in Enron is questionable. As is many others, Bill Clinton being one of them. When trying to establish who the most corrupt in DC are, it is difficult to rate them. You could go by net worth and the Dems are ahead of the GOP. I think your distrust of Republicans is nearly as strong as my distrust of Democrats.
To get back on track somewhat. The current President made campaign promises to clean out the lobbyist in our government. What has he done. We still have the best Congress money can buy. To give credit where due. He also said he would go after offshore accounts and he seems to be doing some of that.
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- #653 of 1003
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Re: AT least one true reporter isn't fooled... [gagrice]
by imidazol97
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Oct 20, 2009 (4:57 pm)
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Replying to: gagrice (Oct 20, 2009 4:45 pm)
>The current President made campaign promises to clean out the lobbyists in our government.
He also promised the most ethical and the most transparent government!!!! Heheeee. Bills forced out of committee with 300 amendments that the republicans couldn't see. Bills passed without being posted in final form for 5 days.
>He also said he would go after offshore accounts and he seems to be doing some of that.
When the Kennedy fortunes are in the US again so they're taxable for death tax and income taxes, we'll know he was serious.
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- #654 of 1003
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Re: AT least one true reporter isn't fooled... [fintail]
by gagrice
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Oct 20, 2009 (5:00 pm)
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Replying to: fintail (Oct 20, 2009 3:53 pm)
Do you deny Gramm should be punished for his amorality and lack of ethics?
If these were such blatant infractions, why don't the Democrats investigate? I don't see him as bad as Dodd, Frank and Raines in the current mess we are in. And I don't think he holds a candle to crooks like Charlie Rangel. If I was forced to pick two Democrats that are possibly honest it would be Joe Biden and Lieberman. The rest I would not trust as far as you can throw them. The only Congressman I have any faith in is my new one Duncan Hunter. At least he spent 3 tours in our current wars and has some inside knowledge.
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- #655 of 1003
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Re: AT least one true reporter isn't fooled... [gagrice]
by fintail
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Oct 20, 2009 (5:25 pm)
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Replying to: gagrice (Oct 20, 2009 4:45 pm)
Look who Gramm works for. He's far worse than a simple congressional crook - of which there are so many.
If the Dems pushed the neocons, why did the GOPers let them into the club? Their sinister desires must have been as obvious then as they are now. They've killed the GOP in terms of credibility.
I didn't expect Barry to do anything about lobbyists - he can't. No presidents can. Lobbyists control the presidency. If he got too out of line, he'd probably end up like JFK. Going after the offshore tax dodging is a drop in the bucket...I have to believe something is being done to make up for it.
When have we ever not had the best congress money can buy?
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- #656 of 1003
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Re: AT least one true reporter isn't fooled... [gagrice]
by fintail
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Oct 20, 2009 (5:32 pm)
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Replying to: gagrice (Oct 20, 2009 5:00 pm)
Investigate and do what?
The economic terrorist
Just look at this piece of work
If Hunter has inside knowledge, he must be able to admit what a disaster these wars have been, not fought for American interests.
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