View Poll Results: Is obama insane, stupid or trying to destroy America?

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  • insane

    5 9.26%
  • stupid

    12 22.22%
  • trying to destroy America

    37 68.52%
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Thread: Is obama insane, stupid or malicious?

  1. #121
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    Re: Is obama insane, stupid or malicious?

    Quote Originally Posted by sawyerloggingon View Post
    That would be a very dangerous roll of the dice. Qualifying the unqualified to buy houses AGAIN is a Hail Mary pass and if things are that desperate God help us.
    I don't know to what degree they're encouraging subprime again. It may be at a much higher level and they're probably not allowing all of the swapping that occurred before. That was a big part of the process that caused the market to react so negatively.
    Einstein, "science without religion is lame, religion without science is blind."

  2. #122
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    Re: Is obama insane, stupid or malicious?

    Quote Originally Posted by sawyerloggingon View Post
    Your revisionist history is astounding.

    <quotes from link>

    Did Fannie and Freddie Cause Mortgage Crisis

    So the banks made "illegal" loans huh.

    [B]"The government set them up this way to allow them to buy qualified mortgages, insure them and resell them to investors, thus freeing up funds for banks to make new mortgages

    As you see this is "dejavu all over again."
    Try taking the time to read some REAL reports about the mortgage meltdown instead of a quick Google search and get back to me in a few days when you've studied them. Somewhere out there is a bipartisan report about 250 pages long that goes into great detail about the possible causes of the Meltdown. Government backed loans isn't one of them.

    Or maybe you should just read your own reference:
    "Fannie and Freddie Held Fewer Toxic Loans than Most Banks"


    You are also showing your continuing problems with reading comprehension. They were illegally selling their loans, not making illegal loans. ((As far as I know there is no such thing as an 'illegal' loan from a bank unless the APR is too high or their reserve deposits aren't big enough.)) They were paying rating agencies like Standards & Poor to over-rate derivatives that contained what the banks and rating agencies knew to be poor investments.

    S&P expects U.S. lawsuit over pre-crisis credit ratings | Reuters
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  3. #123
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    Re: Is obama insane, stupid or malicious?

    Quote Originally Posted by ecofarm View Post
    I wonder if people who were Bush bashers and are now Obama supporters remember what it feels like to be on the attacking side.


    Some do, some don't.

  4. #124
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    Re: Is obama insane, stupid or malicious?

    Quote Originally Posted by MoSurveyor View Post
    Try taking the time to read some REAL reports about the mortgage meltdown instead of a quick Google search and get back to me in a few days when you've studied them. Somewhere out there is a bipartisan report about 250 pages long that goes into great detail about the possible causes of the Meltdown. Government backed loans isn't one of them.

    Or maybe you should just read your own reference:
    "Fannie and Freddie Held Fewer Toxic Loans than Most Banks"


    You are also showing your continuing problems with reading comprehension. They were illegally selling their loans, not making illegal loans. ((As far as I know there is no such thing as an 'illegal' loan from a bank unless the APR is too high or their reserve deposits aren't big enough.)) They were paying rating agencies like Standards & Poor to over-rate derivatives that contained what the banks and rating agencies knew to be poor investments.

    S&P expects U.S. lawsuit over pre-crisis credit ratings | Reuters
    What you are not grasping is WHY banks held toxic loans.

  5. #125
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    Re: Is obama insane, stupid or malicious?

    Quote Originally Posted by iguanaman View Post
    Except that is about repeating his mortgage meltdown. You don't remember that it was on his watch? How convenient.


    It's the way their minds work.

  6. #126
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    Is obama insane, stupid or malicious?

    Quote Originally Posted by iguanaman View Post
    Except that is about repeating his mortgage meltdown. You don't remember that it was on his watch? How convenient.
    Unless you accept that Barrack Obama is a complete and total mindless ****ing moron that lacks the capacity to do anything more than follow Bush's every word action and deed, then you must accept that Obama's actions are his own. He is not insane. He is not stupid. He is not attempting to destroy the country. He is incompetent. You obviously feel Bush was as well. Fine. But for you and people like you to blame Obamas incompetence on someone else...that is beyond pathetic.

  7. #127
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    Re: Is obama insane, stupid or malicious?

    Couldn't answer because mine wasn't up there: ignorance.
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
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  8. #128
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    Re: Is obama insane, stupid or malicious?

    None of the above.
    "Human kindness has never weakened the stamina or softened the fiber of a free people. A nation does not have to be cruel to be tough."
    -FDR

  9. #129
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    Re: Is obama insane, stupid or malicious?

    Quote Originally Posted by sawyerloggingon View Post
    What you are not grasping is WHY banks held toxic loans.
    Because they were getting $1200+ a pop just in origination fees? And that doesn't count what they charged for the assessment fees, the payments to cut points off the APR, and their ties to mortgage insurance companies. LOL! Don't kid yourself - banks are in the business of making money and no one has to twist their arm to do it. If you believe otherwise you should check yourself in.
    Mt. Rushmore: Three surveyors and some other guy.
    Life goes on within you and without you. -Harrison
    Hear the echoes of the centuries, Power isn't all that money buys. -Peart
    After you learn quantum mechanics you're never really the same again. -Weinberg

  10. #130
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    Re: Is obama insane, stupid or malicious?

    We weren’t in a position to take advantage of the Reagan screw-up with the S&Ls to make investment home purchases even though the S&L that made the news was just down the street from us. Actually it was just for insiders at the S&L. But I and my relator neighbor saw the Bush screw-up coming. As I posted months ago: 12 Years ago I was advised, by someone that couldn’t see the danger, to buy an investment home in North Scottsdale before it was built so it would increase in price while it was being built, then sell it when it was completed. The builders were making many profitable sales and buying large quantities of trusses, AC units, land, infrastructure, etc. predicting many more sales. About 11 years ago we had an opportunity to move to Grand Rapids MI and took it. Housing prices in MI had already taken a bit of a hit, buyers were few, and we found a neat water front home that was in financial distress since the owner bought a new home before selling his current one. (Who was president then?) We sold our Scottsdale home just as the bubble was busting. If I was faster with my remodel of it I might have made about $25,000 more, but we did very well. Then about 5 years ago we started looking for a winter home in the Phoenix market. About 3 years ago we bought one, a short sale. The sale price of comps in the area has gone up about 50%. Last year we bought another for a family member. There were 11 bids on the one we found. It had a one morning open house. Mostly investors were there to see it. Our bid was the highest, several thousand above asking. (Then the 2nd loan holder wanted a thousand more or wouldn’t accept. We ponied up.) In one year sale prices of comps have gone up about 60% over what we paid. We are getting ready to sell this one and move our family member into a condo, more appropriate than the house, we bought last month. We also bought another house last month in a better location than the one we use for a winter home. So, let’s see, we own one condo and 4 homes. The last 4 purchases were for cash. Gee, if Obama was able to make it possible for more people with jobs and reasonable credit to compete with us by allowing the banks preapprove people for mortgages we would have had some competition.
    We also think our risk is low since new construction costs and prices are well above what we paid and new homes are being built near our ‘investment’ homes.
    Last edited by OhIsee.Then; 04-07-13 at 03:49 PM.

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