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Thread: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Lord Tammerlain View Post
    Not the CRA again

    The largest subprime mortgage lenders were not subject to the CRA, Countrywide was not subject to the CRA and originated 20% of the mortgages in the US in 2006. New Century was the second biggest subprime lender and was not subject to the CRA.
    Where does personal responsibility rest in the liberal world? Apparently there are no consequences for individual failures. No one held a gun to the head of people forcing them to buy homes that they could not afford. Barack Obama was elected to fix the problem and here we are 2 1/2 years later and the results are worse.

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Conservative View Post
    Where does personal responsibility rest in the liberal world? Apparently there are no consequences for individual failures.
    Wall Street would agree with you.
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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Conservative View Post
    Where does personal responsibility rest in the liberal world? Apparently there are no consequences for individual failures. No one held a gun to the head of people forcing them to buy homes that they could not afford. Barack Obama was elected to fix the problem and here we are 2 1/2 years later and the results are worse.
    And just where did I state people taking out mortgages were not responsible for taking out mortgages

    I pointed out that the majority of subprime loans were not subject to the CRA,


    No gun was held to companies like Countrywide to make bad loans (in fact countrywide didnt care if it did or no),
    Last edited by Lord Tammerlain; 07-09-11 at 12:04 PM.
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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Lord Tammerlain View Post
    And just where did I state people taking out mortgages were not responsible for taking out mortgages

    I pointed out that the majority of subprime loans were not subject to the CRA,


    No gun was held to companies like Countrywide to make bad loans (in fact countrywide didnt care if it did or no),
    ACORN held a racial gun to the head of lenders but we continue to get way off track here as usual. Barack Obama has been in office 2 1/2 years and is still blaming others for his own failures. We have seen the results of that Harvard faculty room economic policies and they have failed. The results today are worse than they were when he took office and worse that Reagan's 2 years after the end of a recession that I believe was worse than this one. A good pro growth President wouldn't have the results we have today, Reagan took over an economy that had a misery index over 20 and stimulated job growth and two years after the end of that recession we were growing jobs, not still shedding them.

    These are the Obama results, TODAY, notice that, 2 1/2 years later

    Obama record, 15.1 million officially unemployed TODAY 2 1/2 years later, 16.2% total unemployment or over 20 million TODAY, 4 trillion added to the debt as of the end of fiscal year 2011, and a rising misery index.

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Conservative View Post
    ACORN held a racial gun to the head of lenders but we continue to get way off track here as usual. Barack Obama has been in office 2 1/2 years and is still blaming others for his own failures. We have seen the results of that Harvard faculty room economic policies and they have failed. The results today are worse than they were when he took office and worse that Reagan's 2 years after the end of a recession that I believe was worse than this one. A good pro growth President wouldn't have the results we have today, Reagan took over an economy that had a misery index over 20 and stimulated job growth and two years after the end of that recession we were growing jobs, not still shedding them.

    These are the Obama results, TODAY, notice that, 2 1/2 years later

    Obama record, 15.1 million officially unemployed TODAY 2 1/2 years later, 16.2% total unemployment or over 20 million TODAY, 4 trillion added to the debt as of the end of fiscal year 2011, and a rising misery index.
    Did you not just read that Countrywide, the originator of 20 % of all morgages in 2006 was not subject to the CRA. As such Acorn had zero racial gun pull on Countrywide or similar companies

    Overall how many mortgages were made due to the CRA, I am looking for hard numbers here not subjective gut feeling, and how many of those loans went bad
    Last edited by Lord Tammerlain; 07-09-11 at 12:13 PM.
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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by haymarket View Post
    Wall Street would agree with you.
    Obama's Wall Street cabinet

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Lord Tammerlain View Post
    Did you not just read that Countrywide, the originator of 20 % of all morgages in 2006 was not subject to the CRA. As such Acorn had zero racial gun pull on Countrywide or similar companies
    And how does this relate to the thread topic? There is plenty of blame to go around regarding the housing bubble but too many here simply want to blame Bush. Think the Democrats didn't want home ownership for minorities and didn't think home ownership was a civic right.

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Conservative View Post
    And how does this relate to the thread topic? There is plenty of blame to go around regarding the housing bubble but too many here simply want to blame Bush. Think the Democrats didn't want home ownership for minorities and didn't think home ownership was a civic right.
    So you accept the fact that the CRA was not the driving factor behind the housing bubble then
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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Lord Tammerlain View Post
    So you accept the fact that the CRA was not the driving factor behind the housing bubble then
    what was the driving factor behind the housing bubble but again this is off thread topic?

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Conservative View Post
    Where does personal responsibility rest in the liberal world? Apparently there are no consequences for individual failures. No one held a gun to the head of people forcing them to buy homes that they could not afford. Barack Obama was elected to fix the problem and here we are 2 1/2 years later and the results are worse.
    I'm an airplane mechanic. In being one, we have a mechanic's motto: Don't give the plane back to the owner with more problems than it came to you with.

    Basically, Obama was given an airplane that didn't fly very well and was underpowered. He's given us back a plane without a propeller and a few thousand pounds overweight.

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