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Thread: U.S. Initial Jobless Claims Rose 25,000 to 410,000 Last Week

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    Re: U.S. Initial Jobless Claims Rose 25,000 to 410,000 Last Week

    Fannie and Freddie were not the cause of the housing bubble or it's collapse. They were victims of it. Just like the rest of us. Greed in the financial sector created the economic disaster. Nobody was forced to lend money. Nobody was forced to buy risky securities. That is a lie to try to shift blame. That is all.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: U.S. Initial Jobless Claims Rose 25,000 to 410,000 Last Week

    Quote Originally Posted by USA_1 View Post
    Fannie and Freddie were not the cause of the housing bubble or it's collapse. They were victims of it. Just like the rest of us. Greed in the financial sector created the economic disaster. Nobody was forced to lend money. Nobody was forced to buy risky securities. That is a lie to try to shift blame. That is all.
    Fannie and Freddie contributed to it and encouraged the meltdown, if not hastened it.
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: U.S. Initial Jobless Claims Rose 25,000 to 410,000 Last Week

    Quote Originally Posted by USA_1 View Post
    Fannie and Freddie were not the cause of the housing bubble or it's collapse. They were victims of it. Just like the rest of us. Greed in the financial sector created the economic disaster. Nobody was forced to lend money. Nobody was forced to buy risky securities. That is a lie to try to shift blame. That is all.
    So, owning half the bad loans makes them a victim? Oh puhleese!
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: U.S. Initial Jobless Claims Rose 25,000 to 410,000 Last Week

    Our country thrived most when our industrial base was strong. Reduced dependence on government spending, people willing to work menial jobs, labor and industry negotiating viable salaries and solutions, smaller federal government with a paid down debt...those are some of the things that will contribute to revitalizing the economy.

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    Re: U.S. Initial Jobless Claims Rose 25,000 to 410,000 Last Week

    Quote Originally Posted by VanceMack View Post
    Our country thrived most when our industrial base was strong. Reduced dependence on government spending, people willing to work menial jobs, labor and industry negotiating viable salaries and solutions, smaller federal government with a paid down debt...those are some of the things that will contribute to revitalizing the economy.
    sometimes you make way too much sense.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: U.S. Initial Jobless Claims Rose 25,000 to 410,000 Last Week

    Quote Originally Posted by liblady View Post
    sometimes you make way too much sense.
    Like...3% of the time..no...2%...

    Its not about dem or rep...when I see that crap starting up it makes my brain ache.

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    Re: U.S. Initial Jobless Claims Rose 25,000 to 410,000 Last Week

    Quote Originally Posted by apdst View Post
    So, owning half the bad loans makes them a victim? Oh puhleese!
    They would have been fine owning the loans had the housing bubble not burst. They got hosed just like every bank in the country.

    These are the companies that created the mess:
    http://www.huffingtonpost.com/2011/0..._n_813708.html

    Countrywide had been the nation's largest home loan originator before the housing market collapse left many of its borrowers unable to repay mortgages that in many cases required no proof of income or down payment.

    http://www.washingtonpost.com/wp-dyn...021106210.html



    According to the SEC, former chief executive Michael Perry and former chief financial officers Scott Keys and Blair Abernathy knew that the lender was running short of the cash it needed to offset risky loans in 2007 and 2008 but failed to inform shareholders. The FDIC took control of IndyMac in July 2008, and it filed for bankruptcy months later

    http://money.cnn.com/2010/07/16/news...tune/index.htm

    The statement reads in part, "The settlement resolves allegations of AIG's wide-ranging fraud from October 1999 to April 2005 involving anti-competitive market division, accounting violations and stock price manipulation, and brings total expected recovery for AIG shareholders to over $1 billion. The settlement is subject to court approval."

    http://www.cranedata.com/archives/all-articles/3314/
    Last edited by USA_1; 02-17-11 at 03:35 PM.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: U.S. Initial Jobless Claims Rose 25,000 to 410,000 Last Week

    Quote Originally Posted by USA_1 View Post
    They would have been fine owning the loans had the housing bubble not burst. They got hosed just like ever bank in the country.

    These are the companies that created the mess:
    Bank of America's Countrywide Accused Of 'Massive Fraud' By Investors' Suit

    Countrywide had been the nation's largest home loan originator before the housing market collapse left many of its borrowers unable to repay mortgages that in many cases required no proof of income or down payment.

    SEC charges former IndyMac executives with fraud

    According to the SEC, former chief executive Michael Perry and former chief financial officers Scott Keys and Blair Abernathy knew that the lender was running short of the cash it needed to offset risky loans in 2007 and 2008 but failed to inform shareholders. The FDIC took control of IndyMac in July 2008, and it filed for bankruptcy months later

    AIG settles fraud cases for $1 billion - Jul. 16, 2010
    OMG! You didn't just say that!
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: U.S. Initial Jobless Claims Rose 25,000 to 410,000 Last Week

    Quote Originally Posted by apdst View Post
    OMG! You didn't just say that!
    Fact. The creation of the housing bubble by the FED and Bush's homeownership policies and it's collapse led to the financial meltdown.
    Had there been no bubble Fannie and Freddie would not have lost money. They were victims of the housing bubble.
    Had home prices continued to rise or at least remain constant there would not have been a problem.

    http://www.tribunact.com/news/2011-0..._crisis_s.html

    Critics charged that the CRA forced banks to approve mortgages for poor, unqualified buyers who could not maintain payments and went into default or foreclosure, causing the housing market to collapse. That charge was also leveled often at the affordable-housing goals of Fannie Mae and Freddie Mac, federally sponsored enterprises that buy mortgages made by private lenders.

    But the Financial Crisis Inquiry Commission established by Congress concluded in January that the 1977 law designed to prevent redlining was “not a significant factor in subprime lending or the crisis.” Ben Bernanke, chair of the Federal Reserve, had made a similar statement two years ago, but the criticism continue
    Last edited by USA_1; 02-17-11 at 03:42 PM.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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