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Thread: Obama announces his Candidacy for 2012.

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    Re: Obama announces his Candidacy for 2012.

    Quote Originally Posted by Sheik Yerbuti View Post
    Bush thinks it was Republican policies, what reason do we have to doubt him?

    "Thanks to our policies, home ownership in America is at an all- time high." ~ George Bush, 9.24.2004, to fellow Republicans.
    Guess you have a problem answering the questions I raised. Are you saying that Home ownership wasn't at an all time high? What did Bush do to create the sub prime loans and selling homes to individuals who couldn't afford them?

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    Re: Obama announces his Candidacy for 2012.

    So what is your point? How did Freddie and Fannie affect the mortgage market and where was their oversight? What does this have to do with the thread topic.

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    Re: Obama announces his Candidacy for 2012.

    Quote Originally Posted by Conservative View Post
    Guess you have a problem answering the questions I raised. Are you saying that Home ownership wasn't at an all time high? What did Bush do to create the sub prime loans and selling homes to individuals who couldn't afford them?
    see my post above yours

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    Re: Obama announces his Candidacy for 2012.

    Quote Originally Posted by Conservative View Post

    It really is hard dealing with kids who think they know it all. Do I need to type slower for you? I didn't make the claim, CBO made the claim and CBO always gets their information from the Congress or the Administration. Not sure how to make that clearer for you because some people just don't want to admit how wrong they are.
    You're lying, the CBO never said the stimulus cost us $228,000 per job. Here's the link you gave, nowhere in there do they make such a claim.

    Congressional Budget Office - Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October 2010 Through December 2010

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    Re: Obama announces his Candidacy for 2012.

    Quote Originally Posted by pbrauer View Post
    see my post above yours
    Saw your post and still wonder what that has to do with the questions I asked? You want so badly to believe it was Bush's fault when the fault lies with individuals, agencies including Freddie and Fannie.

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    Re: Obama announces his Candidacy for 2012.

    Quote Originally Posted by Sheik Yerbuti View Post
    You're lying, the CBO never said the stimulus cost us $228,000 per job. Here's the link you gave, nowhere in there do they make such a claim.

    Congressional Budget Office - Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October 2010 Through December 2010
    What was the cost of the Stimulus, how many jobs did the Administration claim it created or saved? All that is in the document. Now figure it out.

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    Re: Obama announces his Candidacy for 2012.

    Quote Originally Posted by Conservative View Post
    So what is your point? How did Freddie and Fannie affect the mortgage market and where was their oversight? What does this have to do with the thread topic.
    Bush tried to get Fannie and Freddie mac the number one culprits in the home mortgage meltdown reformed but the democrat controlled house and senate would hear none of it...and that most disgusting barney frank fought it like the mutt that he is

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    Re: Obama announces his Candidacy for 2012.

    Quote Originally Posted by Conservative View Post

    Guess you have a problem answering the questions I raised.
    No, I let Bush answer it for me. He took credit for creating the highest home ownership of all time, yet for some reason, you think he''s not responsible for the collapse that resulted.

    Quote Originally Posted by Conservative View Post

    Are you saying that Home ownership wasn't at an all time high?
    Didn't say that.

    Quote Originally Posted by Conservative View Post

    What did Bush do to create the sub prime loans and selling homes to individuals who couldn't afford them?
    Bush Minority Homeownership Plan Rests Heavily on Fannie and Freddie

    When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.

    But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.

    Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

    Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.

    Both corporations also announced specific plans to increase home purchases by African-Americans, Hispanics and immigrants. Fannie Mae, for example, pledged to create an entirely new mortgage product “designed to meet the unique needs of New Americans.” The new loan concept would include underwriting changes that remove some of the common barriers immigrants encounter here--denial of credit because of inadequate or short credit histories, reliance on communal funds for downpayment money, and language and cultural issues. Fannie also promised to establish 100 “outreach partnerships” with predominantly-minority churches, mosques and “other faith-based institutions” to fund mortgages for their congregations.

    Besides its $180 billion mortgage purchase commitment, Freddie Mac gave President Bush a promise to implement a 25-point program aimed at increasing minority homeownership. Some of the points were cutting-edge. For example, as part of an effort to remove the fear of financial loss from first-time minority home buyers, Freddie committed itself to “explor(e) the viability of equity assurance products to protect home values in economically distressed areas.”

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    Re: Obama announces his Candidacy for 2012.

    Quote Originally Posted by Conservative View Post

    What was the cost of the Stimulus, how many jobs did the Administration claim it created or saved? All that is in the document. Now figure it out.
    And you posted that number as being $228,000. That's what you believe each job cost us. That equates to 3.5 million jobs.

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    Re: Obama announces his Candidacy for 2012.

    Quote Originally Posted by Sheik Yerbuti View Post
    No, I let Bush answer it for me. He took credit for creating the highest home ownership of all time, yet for some reason, you think he''s not responsible for the collapse that resulted.


    Didn't say that.


    Bush Minority Homeownership Plan Rests Heavily on Fannie and Freddie

    When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.

    But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.

    Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

    Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.

    Both corporations also announced specific plans to increase home purchases by African-Americans, Hispanics and immigrants. Fannie Mae, for example, pledged to create an entirely new mortgage product “designed to meet the unique needs of New Americans.” The new loan concept would include underwriting changes that remove some of the common barriers immigrants encounter here--denial of credit because of inadequate or short credit histories, reliance on communal funds for downpayment money, and language and cultural issues. Fannie also promised to establish 100 “outreach partnerships” with predominantly-minority churches, mosques and “other faith-based institutions” to fund mortgages for their congregations.

    Besides its $180 billion mortgage purchase commitment, Freddie Mac gave President Bush a promise to implement a 25-point program aimed at increasing minority homeownership. Some of the points were cutting-edge. For example, as part of an effort to remove the fear of financial loss from first-time minority home buyers, Freddie committed itself to “explor(e) the viability of equity assurance products to protect home values in economically distressed areas.”
    Congratulations you have once again derailed a thread by bringing up the past that has nothing to do with the thread topic or the Obama economic results. Your hatred of GW Bush is nothing more than a sickness that needs to be treated, seek help. It certainly does divert from the Obama record which I am sure is your intent. If you want to address the Obama record, great, I will be happy to continue with you, if not, then you are going on ignore before I get another infraction for saying something I will be sorry for.

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