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Thread: America's Fed Up: Obama Approval Rating Hits All-Time Low, Poll Shows [W:256]

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    Re: America's Fed Up: Obama Approval Rating Hits All-Time Low, Poll Shows [W:256]

    Quote Originally Posted by Montecresto View Post
    Stii wrong!

    WASHINGTON — The 2008 financial crisis was an “avoidable” disaster caused by widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street, according to the conclusions of a federal inquiry.

    http://www.nytimes.com/2011/01/26/bu...26inquiry.html

    LOL !!

    I accuse you of posting talking points and you respond with....talking points.

    And te New York Times Op ed ? Are you friken kidding me ? Are you that lazy ?

    Why not just post Krugman's piece where he defended Fannie and Freddie for their unprecedented Securities fraud ?

    I can easily blow holes in that Oped too.

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    Re: America's Fed Up: Obama Approval Rating Hits All-Time Low, Poll Shows [W:256]

    Forgot this part! No oped.


    This conclusive report points to 30 years of deregulation of the financial sector was responsible for the 2007-2008 crisis, and you're quoting democrates to try to prove your point lol,

    http://www.gpo.gov/fdsys/pkg/GPO-FCIC/pdf/GPO-FCIC.pdf
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: America's Fed Up: Obama Approval Rating Hits All-Time Low, Poll Shows [W:256]

    Quote Originally Posted by Montecresto View Post
    Forgot this part! No oped.


    This conclusive report points to 30 years of deregulation of the financial sector was responsible for the 2007-2008 crisis, and you're quoting democrates to try to prove your point lol,

    http://www.gpo.gov/fdsys/pkg/GPO-FCIC/pdf/GPO-FCIC.pdf

    No I've sourced directly to the actual Policies that were put in place in the Mid 90s.

    Ive sourced to documentation contained within Clintons 1995 Homeowner-ship strategy.

    The HUD mandates that forced our GSEs to purchase 4 out of 10 and then 5 out of 10 subprime loans.

    The Federal push to target " racist lenders " that were not providing " equal credit " and I've sourced the consequences of all those new REGULATIONS.

    You ignored them.

    The Housing Bubble was born out of Regulations that forced lenders to provide equal credit by lowering their standards.

    The Financial crisis was born out of Clintons GSE Regulations that forced them to buy, bundle and sell off crap securities YEARS BEFORE private investment banks started to create their own MBSs.

    You ignored that too.

    Again, it was REGULATIONS that were at the heart of the crisis.

    I guess you would also ignore the fact that banks had been making mortgages for DECADES without creating a systemic bubble.

    Government intervention lowered their standards via the threat of DOJ action and the rest is History

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    Re: America's Fed Up: Obama Approval Rating Hits All-Time Low, Poll Shows [W:256]

    The government report I sourced, sunk your argument to the bottom of the ocean. We had best be about regulating our financial markets better, or we'll see more of the same.
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: America's Fed Up: Obama Approval Rating Hits All-Time Low, Poll Shows [W:256]

    Quote Originally Posted by Conservative View Post
    Sorry if I don't accept your so called standards as the norm
    They are what they are regardless of what you say or do.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: America's Fed Up: Obama Approval Rating Hits All-Time Low, Poll Shows [W:256]

    Quote Originally Posted by eohrnberger View Post
    So you are saying the monkey Bush face is more attached to real events then?
    How about the Bush/Hitler?
    Or maybe the vampire? Or the devil?

    Really! Such rubbish!

    How quickly you forget how all the progressives / liberals / Democrats turned on Bush in the most vehement, despicable and crude ways.

    Of the criticism that is worth of any real attention, it all came far too late in the case of Obama.
    From the time the Biased Lame Stream Media went sweet on Obama to only recently, any legitimate criticism of Obama and his policies was met with cries of 'Racist' and 'Racism'.

    If anything, you object to the now lost outright protection, favoritism and nothing but positive reporting the Biased Lame Stream Media condoned on Obama.


    Search your feeling and your memories. You know it to be true.
    yes, quite different. No he's not a citizen. No socialist, communist, fascist, Muslim, terrorist, witch doctor, nonsense. Cmpared to what Obama has faced, Bush's nutters were light humor.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: America's Fed Up: Obama Approval Rating Hits All-Time Low, Poll Shows [W:256]

    Quote Originally Posted by Boo Radley View Post
    yes, quite different. No he's not a citizen. No socialist, communist, fascist, Muslim, terrorist, witch doctor, nonsense. Cmpared to what Obama has faced, Bush's nutters were light humor.
    In your mind's eye, through your rose colored glasses, from your memory, yes, I'm sure you see it that way. Kant kinda says that 'it's not really the thing itself'. I'm thinking that I'm a bit closer to the truth than you are on this one.
    the Fix-is-in Bureau of Investigation

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    Re: America's Fed Up: Obama Approval Rating Hits All-Time Low, Poll Shows [W:256]

    Quote Originally Posted by Boo Radley View Post
    yes, quite different. No he's not a citizen. No socialist, communist, fascist, Muslim, terrorist, witch doctor, nonsense. Cmpared to what Obama has faced, Bush's nutters were light humor.
    You have a very selective memory that is also very short term challenged.

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    Re: America's Fed Up: Obama Approval Rating Hits All-Time Low, Poll Shows [W:256]

    Quote Originally Posted by obvious Child View Post
    If that was so...why didn't the housing market collapse before that?

    You do realize you only need a fraction of houses with mortgages to go under before the securitization of those mortgages starts sending financial instruments into a domino right? With the push for reduced obstacles to home ownership along with bad policies towards F&F, that set the blocks for what really screwed us.

    Honestly, I don't think the problem itself was the bad loans. It was how Wall Street repackaged the securities under those loans that did us in along with the totally fraudulent rating systems. Bad loans were an issue, but housing itself as a total percent of the GDP is not enough to cause that level of damage.


    Had it not been for Fannie Mae and Freddie Mac, I think the bubble would have collapsed long before 2008.

    From 2000-2004 Fannie and Freddie purchased Trillions in Sub-prime securities and loans acting basically as a buffer while they stocked their portfolios full of junk debt. They were the primary consumer of CountryWides trash loans and the primary consumer of Securities backed by Sub-prime loans.

    The Freddie and Fannie foundation even bragged about CountryWide being one of their primary originators of loans that were made with little or no income information or verification.


    And on top of that they were being run like Enron on steroids and defended by Congress right up until they were declared insolvent.

    Their actions and their implicit Government guarantee produced demand for a product that was essentially worthless and their participation in the Market pushed the collapse into 2008 and allowed it to have systemic consequences as MBSs backed by Sub-prime debt found it's way into CDO tranches in Capital Markets all over the world.

    Fannie and Freddie haven't given a itemized account of their debt yet, but you can get some idea of their practices and the amount of trash they held thanks to Eric Holders actions post 2008 and the FEDs QE.

    First, our Fed has agreed to purchase 1.5 Trillion total in junk " AAA " rated securities from Fannie and Freddie through the Feds QE.

    Then FNMA's post 2008 lawsuit against multiple invest banks for selling Fannie Mae junk securities revealed the amount in purchases in Securities that Fannie alone willingly purchased.

    6 BILLION FROM BANK OF AMERICA...
    25 BILLION FROM MERYYL LYNCH
    27 BILLION FROM COUNTRYWIDE
    33 BILLION FROM JP MORGN
    30 BILLION FROM ROYAL BANK OF SCOTLAND
    14 BILLION FROM DEUTCHE BANK
    14 BILLION FROM CREDIT SUISSE
    11 BILLION FROM GOLDMAN SACHS
    10 BILLION FROM MORGAN STANLEY\
    6.2 BILLION FROM HSBC
    6 BILLION FROM ALLY
    5 BILLION FROM BARCLAYS
    4 BILLION FROM CITIGROUP
    2 BILLION FROM NOMURA

    Next is Holder's continued shakedown of Banks and Lenders who were following their CRA mandates. His lawsuit against Bank of America and Wells Fargo who chose to settle out of court rather than fight the US government.

    What the GSEs wound up with in their portfolios when they collapsed doesn't speak to the amount of " AAA " securities THEY distributed out into the markets. It wasn't just Fannie and Freddie that collapsed, Capital markets filled with CDOs tranches that were loaded with toxic MBSs collapsed around the world and the Real Estate Market still to this day sits in a massive sea of debt and foreclosures.

    All of those worthless securities were backed by worthless loans, and given the minimal Homeownership rates from 2000-2006 they couldn't of originated under Bush. At least not the majority of them.
    The New Democratic Party Slogan :

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    Re: America's Fed Up: Obama Approval Rating Hits All-Time Low, Poll Shows [W:256]

    Quote Originally Posted by Montecresto View Post
    The government report I sourced, sunk your argument to the bottom of the ocean. We had best be about regulating our financial markets better, or we'll see more of the same.
    It wasn't even relevant.

    Keep the Government out of the private sector, keep Liberal mandates to force " equity " out of the free market, or else you'll see more of the same.
    The New Democratic Party Slogan :

    " Return to Power By Any Means Necessary "

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