Who's to blame?

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B. W.
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Who's to blame?

#1

Post by B. W. » Thu Feb 26, 2009 7:00 am

Who is to blame for the economy?

Obama and the Progressive libs blame Bush and the past 8 years for the economy - however documented evidence proves other wise:
The New York Times, story by Steven Holmes, September 30th, 1999.

Headline: "'Fannie Mae Eases Credit To Aid Mortgage Lending' -

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders. The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring. Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

'''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. 'Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.' Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market. In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's."
Now we are to believe, without any dissent or discussion that it is in the Country's best interest to spend up to 4 trillion dollars. Where is the money going to come from?

This is like telling someone who owes 1000 dollars in debt that to get out of that debt they must borrow and spend a million dollars? Is this how you pay off your debts by getting into more debt?

Obama has a voice of a pied piper...and luring people into a dark cave whence they'll never return…

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Canuckster1127
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Re: Who's to blame?

#2

Post by Canuckster1127 » Thu Feb 26, 2009 7:55 am

Who is to blame for the economy?
I am. Thanks for giving me the opportunity to clear that up. :eugeek: :)
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Re: Who's to blame?

#3

Post by Cross.eyed » Thu Feb 26, 2009 8:27 am

Hi B.W.,I'm afraid your last sentence may very well be true.

This administration keeps referring to "the policies of the past eight years" seemingly to cover up anything that may put the dems in a bad light.

If we think just a little on the months after 911, Bush did a great job of keeping the economy alive even during the roller- coaster stockmarket.

The economics of the Bush administration in the form of tax breaks is what helped the most IMHO, even though they did spend like a drunken sailor with the pork stuff.
I am the wretch the song refers to.

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Re: Who's to blame?

#4

Post by Cross.eyed » Thu Feb 26, 2009 8:40 am

Canuckster1127 wrote:
Who is to blame for the economy?
I am. Thanks for giving me the opportunity to clear that up. :eugeek: :)
So...you're the one who got the trillions of dollars!
Last edited by Cross.eyed on Thu Feb 26, 2009 8:42 am, edited 1 time in total.
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Re: Who's to blame?

#5

Post by Canuckster1127 » Thu Feb 26, 2009 8:42 am

Cross.eyed wrote:
Canuckster1127 wrote:
Who is to blame for the economy?
I am. Thanks for giving me the opportunity to clear that up. :eugeek: :)
So...you're the one who got all the trillions!
I spent it on Chinese food and baseball cards.

It won't happen again. I promise.
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Re: Who's to blame?

#6

Post by Gman » Wed Mar 04, 2009 11:40 pm

Who's to blame? Everyone's is to blame.. So how is that???? :P
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Re: Who's to blame?

#7

Post by Furstentum Liechtenstein » Thu Mar 05, 2009 4:19 am

Relax, all of you.

I am planning a trip to Boston for one week at the end of April. The last time I spent time in the USA, your economy got a good boost from all the new money I injected. This time it should be even better as my wife and I will spend about 3 times as much as on our previous trip.

So just be patient. Things will turn around for you in one-and-a-half months.

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Re: Who's to blame?

#8

Post by cslewislover » Fri Mar 06, 2009 11:33 am

Fürstentum Liechtenstein wrote:Relax, all of you.

I am planning a trip to Boston for one week at the end of April. The last time I spent time in the USA, your economy got a good boost from all the new money I injected. This time it should be even better as my wife and I will spend about 3 times as much as on our previous trip.

So just be patient. Things will turn around for you in one-and-a-half months.

FL
I'm sure the trickle-down affect to the west coast will be tremendous. I can't wait! :lol:
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Re: Who's to blame?

#9

Post by zoegirl » Fri Mar 06, 2009 11:50 am

I'm just every day more and more disgusted at Obama's unwillingness to listen to sooo many economists who are essentailly screaming to stop thinking about health care.

He is just soooo socialist I actually dread where we are going.
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Re: Who's to blame?

#10

Post by Jac3510 » Fri Mar 06, 2009 11:52 am

zoegirl wrote:I'm just every day more and more disgusted at Obama's unwillingness to listen to sooo many economists who are essentailly screaming to stop thinking about health care.

He is just soooo socialist I actually dread where we are going.
I think Obama was guilty of underexageration when he said he was going to give us change . . . he MEANT he was going to give us TRILLIONS in deficits . . .

Of course, I guess you get enough change together you can get a few trillion dollars . . . hmm . . .
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Re: Who's to blame?

#11

Post by BavarianWheels » Fri Mar 06, 2009 12:00 pm

zoegirl wrote:He is just soooo socialist I actually dread where we are going.
Seriously? And yet we pray for Christ's soon coming? Seems slightly at odds, don't you think?
.
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Re: Who's to blame?

#12

Post by obsolete » Sat Mar 07, 2009 1:27 pm

Canuckster1127 wrote:
Cross.eyed wrote:
Canuckster1127 wrote:
Who is to blame for the economy?
I am. Thanks for giving me the opportunity to clear that up. :eugeek: :)
So...you're the one who got all the trillions!
I spent it on Chinese food and baseball cards.

It won't happen again. I promise.
I hope it was some REALLY good Chinese food!
Jesus died for ALL. End of story.

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Furstentum Liechtenstein
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Re: Who's to blame?

#13

Post by Furstentum Liechtenstein » Sun Mar 08, 2009 6:42 am

obsolete wrote:I hope it was some REALLY good Chinese food!
There is no such thing. The Chinese don't make anything really well.

FL
Hold everything lightly. If you don't, it will hurt when God pries your fingers loose as He takes it from you. -Corrie Ten Boom

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If they had a social gospel in the days of the prodigal son, somebody would have given him a bed and a sandwich and he never would have gone home.

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Re: Who's to blame?

#14

Post by obsolete » Sun Mar 08, 2009 7:29 am

Fürstentum Liechtenstein wrote:
obsolete wrote:I hope it was some REALLY good Chinese food!
There is no such thing. The Chinese don't make anything really well.

FL
Then you aparently have never been to China and eaten the non-comercialized food. Stuff you only find in places well off the beaten path.
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Re: Who's to blame?

#15

Post by Canuckster1127 » Sun Mar 08, 2009 7:57 am

For a trillion dollars you can have it delivered from Shang Hai or Beijing
Dogmatism is the comfortable intellectual framework of self-righteousness. Self-righteousness is more decadent than the worst sexual sin. ~ Dan Allender

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