Barack Obama Accused Bush for not taking Actions against Foreclosures »
Posted By altnrg 11 months, 3 weeks ago in NewsPresident-elect Obama criticized Bush of not implementing effective measures against foreclosures and vowed to take action immediately after taking office.
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engineer11 months, 3 weeks ago
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minnieh611 months, 3 weeks ago
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President Bush is not responsible for the mortgage company's errors and negligences. I am sure these are those responsible and should be forced to bail the morgagees out. That should be the concern of Our President elect. I honestly believe President knows this. which is why he refuses to take action for the companies. who is was and always has been the reasons for all deficit in everything.
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Endoscopy11 months, 3 weeks ago
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Obama is a hypocrite in this matter. He trained ACORN, sued Citicorp to make more bad loans under CRA. At that time Freddy and Fannie were not taking loans with less than 10% down. Therefore ACORN started lobbying Congress in 1990. In 1992 Congress passed the asked for changes to the CRA and other banking rules related to mortgages. In 1995 they went into effect. No money down, low starting ARM, no principal for years, No investigation for ability to pay, etc. Recipe for disaster. The housing boom took off and in 2006 it popped because the foreclosures had hit and there were too many houses on the market place. It is worse now. That caused the financial problem.
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Obama was there pushing for that reform by suing Citibank and helping ACORN. So now it is Bush's fault. Typical liberal. Impeach Obama now.
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nyquisttheorem0011 months, 3 weeks ago
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No one should bail the idiots out that are losing their homes. Since age 10, I knew not to purchase something I could not afford, unfortunately that caution on borrowing $ kept me from becoming a Radiologist. I was told you borrow, you pay back. We live in a society of losers who have children they cannot afford with multiple fathers. I refinanced my home when rates dropped even though it cost me more $, but I knew from common sense, I needed a fixed rate loan. Bank tried to get me to take more since I paid down a great deal on my home over the years, I fantasized about it but cautiously declined.... If you got in financial trouble it is your fault. Send illegal immigrants back and make them wait their turn like I did.
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orndorffter11 months, 3 weeks ago
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So your telling me just let them lose their homes,no matter if they have little children or not? well maybe some people arn't as lucky as tou are. people have no JOBS- you are heartless.And one other thing these children your talking about, did not ask to be brought into this world with people of your attitude. You Shame me,I dont care how many fathers they have. Its not for you to say, I have saw parents who have lost their jobs and getting no help from the Goverment. So its great things are going okay for you, but when you start on those you no nothing about and the children,thats where it stops, you are as low down as any scum of of the earth, leave the kids out of it.and I dont mean maybe Baby, thats what I do I work with kids and I have kids and grandkids.thrie parents may not have what you have, but I'll bet you their a hell of a lot smarter then you. dont get me started because kids our the world to me.
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dixiechicken16711 months, 3 weeks ago
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Ny, You are so right, send illegal immigrants back and frankly, I wouldn't allow immigration at this time in our history. We need to take care of our American people.
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Any idea how many refugees are here living off welfare? I know one man now who is a Somalian Refugee. He has 4 kids under 4 and 1 in the oven. Welfare, food stamps, health care. He claims his kiddies are a blessing. Ya, I bet. Now he's unemployed. I don't feel sorry for that type of poverty.
And you're right, we do live in society of losers who have children with multiple fathers. Its more welfare!!!
Due to 911, I wouldn't allow any new immigrants here. We trained these people to fly into the World Trade Center. Our boarders should have closed a long time ago. -
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Jeboba11 months, 3 weeks ago
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It's not all people that bought something they couldn't afford! Ever hear of someone losing their job? Hmmmm? There are MILLIONS out of work since wonder boy Bush has been running the show! Nothing to do with bad mortgages, etc.
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Wake up! It COULD happen to you too!
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MILITA11 months, 3 weeks ago
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This may be a ploy of Obama to take the heat off
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him, what with the press on his politics in
Chicago, his birth certificate in question, his
association with a 60's terrorist and other
questionable people. President Bush is a man
of integrity but this fellow Obama I don't know
about. I have reservations about him.
Phyllis Kunz-
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mark-stevens11 months, 3 weeks ago
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If Obama was white, would there be talk of him being American, or his religion, or being corrupt get mentioned, I more than doubt it. Bush and his family have a questionable background, and was never brought up.
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Bush was involved in the savings scandal, the Texas Rangers stadium tax scam, and so on -
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dixiechicken16711 months, 3 weeks ago
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MILITA, I think you're right about this. TAKE A LOOK AT HIS AUNT WHO HAS BEEN HERE ILLEGALLY LIVING OFF PUBLIC HOUSING. Meaning living off tax payers and she isn't legal. I'd like to know how much federal and state taxes she's paid through the years. Good question.
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Now Obama want to lift sanctions with CUBA. In what way does he think its going to benefit the US. Buy their cigars and booze? Cuba, I don't think, has the money to trade anything with us. If anything, Cuba wants something from us. LIKE LET ME IN YOUR COUNTRY FOR WELFARE!!!
The writing is on the wall on this one.
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truthlady11 months, 3 weeks ago
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I think the ppl handling the bailouts are going about this all wrong! If they had givein us, the 470 million of us,that are over 18,say $250,000.00,we would pay off the mortgages,creditcards,and any other debts we have. that intern would take care of the toxic paper that the banks have,and we would start spending again. the dollar would become stronger.and IT certainly wouldn't be in the billions, we see ourselfs in now. But what do Iknow I'm just a stay athome mom.
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riverdog11 months, 3 weeks ago
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Trhthlady: I couldn't agree with you more, that's a perfect way out. As my own protest, I've torn up all credit cards, retired all debts with banks and will never use their services again. Thieves and liars, the whole bunch. They contribute nothing and enslave everyone. I don't need their 'products'.
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Ratskii11 months, 3 weeks ago
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Got to disagree with you Simon. Unrestrained free market capitalism has serious problems. The main one is that short term profit takes precedence over a long term sustainable economic policy. The main problem our economy has faced in the last eight years is a lack of keeping track of the corporations and keeping them honest.
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hoppy11 months, 3 weeks ago
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Pres.Bush, of you are reading this please do us one favor before leaving offfice,,,PARDON THOSE TWO BORDER PATROL AGENTS,Do a big favor for the hundreds of thousands who have been waiting for you to do this .Pardon them or submitt a reason why you won't do it.
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dixiechicken16711 months, 3 weeks ago
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OH HOPPY, you are so right!!!! Why weren't they pardoned? I know they lied and covered up what they did, but in truth, they we're scared. These are men who we're doing their jobs. Maybe they don't belong in law enforcement but they don't belong in prison either.
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DannyKk11 months, 3 weeks ago
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The truthlady is truthful and right on the mark! That is the easiest way out but the powers that be won't let that happens. Y? , because it may diminish their own Powers. The sad truth is when ones neighbor’s house is on fire, they have to be concern whether the neighbor was an idiot or not.
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lehavre711 months, 3 weeks ago
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I HAPPEN TO AGREE WITH Phyllis,THAT OBAMA IS DOING THIS,JUST TO TAKE THE HEAT OFF OF HIMSELF,IF YOU READ WHAT THE NATION IS SAYING ABOUT HIM,YOU WILL AGREE
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what with the press on his politics in
Chicago, his birth certificate in question, his
association with a 60's terrorist and other
questionable people. President Bush is a man
of integrity but this fellow Obama I don't know
about. I have reservations about him. -
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lehavre711 months, 3 weeks ago
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I HAVE GOT TO SAY WITH ALL THE RECENT THINGS THAT HAVE BEEN CIRCULATING ABOUT OBAMA,THIS COMES AS NO SURPRISE,HE IS TRYING VERY HARD FOR EVERYONE TO NOT THINK ABOUT THEM ALL--PRESS ON HIS POLITICS,ASSOCIATION WITH A TERROIST,COME ON EVERYBODY,THINK
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dorasdesign11 months, 3 weeks ago
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orndorffter11 months, 3 weeks ago
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You have already made your bed and you have to lie in it now, because you know that the Democraitc always has to clean up the rotten mess the Republicans made, so get ready, injoy your new President Elect Obama, the one who well do for the people who cares for the people.Counting down tell your Mr Bush is OUT:.
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coolcyn11 months, 3 weeks ago
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Whatever happened to accountability? Can the people who are responsible please stand up and stop blaming the government? No one forced a pen in their hand or forged their signature on these loan papers. They saw an opportunity, took it and never thought of the consequences. Whatever happened to living within our means? So all you people who bought homes or refinanced using those crazy revolving rates please stand up.
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GehlLady11 months, 3 weeks ago
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What about those of us that didn't sign crazy loans? That have always watched our budgets, never factoring in overtime when figuring the budget, that have paid the mortgage for 20 years, and now with 10 left to go have lost our income? No job in sight?
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Damn right I blame the government! The bipartison SOBs have shipped our jobs overseas, allowed 12 million illegals to dilute our wages and job opportunities, and created unfair trade agreements. This screwing took longer than 8 years to happen, and all this arguing between ourselves over party lines only takes the attention away from the real screwing coming.
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pretender976311 months, 3 weeks ago
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bush is not responiable for the foreclousre problems. when normal people started to use their home as a bank account. and raised the price over the amount common people can afford. it's a shame. when a newly married couple first home becomes their first nightmare. if you want to live in a nice neighborhood you will need a big pile of money. the neighborhood i live in is just right no homes over $75,000.00.
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jaern11 months, 3 weeks ago
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Bush is the same guy who has been saying our economy is just fine for the last year. You're finally in a recession and find out you've been in one for a year. My state's been in one for 5 years now. Bush is a do-nothing president. He's far too busy pardoning his buddies and figuring out a way to give a postdated pardons to himself, Rove, and Cheney.
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ChefEOD11 months, 3 weeks ago
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In general
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The democrats made it possible for people to borrow more than they could afford to pay back so they could keep those voters in their pockets.
The "poor" people saw a chance to "move on up" and grabbed it up without a thought to the consequences, hey its free money.
The republicans kept their mouths shut because they did not want to be the bad guys and risk losing votes.
Everyone involved is either guilty of the above or just stupid, and some are both. -
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saharadark11 months, 3 weeks ago
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These greedy self serving banks need to stop charging a default rate of 30% and other tricks to gut the average credit user. History will teach us of all the Republican/Bush mistakes and how NOT to run a government in a recession. Obama is the usa'S ONLY HOPE. HE WILL GOVERN WITH INTELLEGENCE AND INTEGRITY.
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saharadark11 months, 3 weeks ago
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The banks need to get real in this economy and stop overcharging for credit with usurious penalty rates of interest and short billing periods and other credit card tricks to rape the public. The same goes for the greedy self serving mortgage banks who do nothing unless "forced" to in this unregulated age of Republican/Bush doctrines. This period will serve to teach us in history of how NOT TO RUN A GOVERNMENT in recessionary times. Obama is our new hope.
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mayabelle110711 months, 3 weeks ago
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Scary the incoming president doesn't know that congress makes economic legislation. I believe it was Barney Frank, Chris Dodd and Harry Reid that rejected a 2005 Republican plan to overhaul Freddy and Fannie. Also I believe it was Bill Clinton who URGED banks to loosen requirements for low income and minority loans, in a vacant effort to divert attention from cheating on his wife with 21 year old intern in the same office that Abraham Lincoln signed the 16th amendment. Get ready for taxation without representation run amok.
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ybdogsct11 months, 3 weeks ago
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MAYABELLE:
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"Scary the incoming president doesn't know that congress makes economic legislation. I believe it was Barney Frank, Chris Dodd and Harry Reid that rejected a 2005 Republican plan to overhaul Freddy and Fannie."
The Democratic Party did NOT control Congress in 2005 when Republican Chuck Hagel and Democrat Paul Sarbanes introduced their regulatory legislation. Republicans controlled Congress, Republicans (Majority Leader Bill Frist) killed Chuck Hagel's bill in committee. Republicans (Richard Shelby) killed Paul Sarbanes regulatory bill in committee.
http://www.propeller.com/story/2008/12/07/how-fred...
"Freddie Mac and its sister company, Fannie Mae, are in financial collapse and under government control. Congress is investigating how it all happened.
Freddie Mac enlisted prominent conservatives, including Gingrich and former Justice Department official Viet Dinh, paying each $300,000 in 2006, according to internal records. In 2005, Freddie Mac hired Republican political consultant Frank Luntz.
Freddie Mac thwarted efforts to bring a tough regulatory bill sponsored by Senator Chuck Hagel by secretly paying a Republican consulting firm, Washington-based DCI Group, $2 million to kill Hagel's legislation. The covert lobbying campaign targeted Republican senators in 2005-06. According to the newly obtained records, DCI's deployment was part of a broader campaign that targeted mainly Republicans on Capitol Hill. The internal Freddie Mac documents show that 17 of the lobbying firms and consultants paid in 2006 were specifically directed to focus on Republicans and four on Democrats."
http://www.allbusiness.com/government/532756-1.htm...
"During deliberations, Senate Banking Committee Chairman Sen. Richard Shelby (R-Alabama) dismissed the alternative submitted by ranking member Sen. Paul Sarbanes (D-Maryland)."
http://www.msnbc.msn.com/id/27266607/
"Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press. The states and the senators targeted changed over time, but always stayed on the Republican side.
McCain’s campaign manager, Rick Davis, or his lobbying firm has taken more than $2 million from Fannie Mae and Freddie Mac dating to 2000. In December, Freddie Mac contributed $250,000 to last month’s GOP convention.
Before 2004, Fannie Mae and Freddie Mac were Democratic strongholds. After 2004, Republicans ran their political operations. McLoughlin, who joined Freddie Mac in 2004 as chief of staff, has given $32,250 to Republican candidates over the years, including $2,800 to McCain, and has given none to Democrats."
http://www.newsweek.com/id/161218
"A Freddie Mac Money Trail Catches Up With McCain: Last week, though, McCain's trust in his campaign manager Rick Davis was tested again amid disclosures that Freddie Mac, the troubled mortgage giant that was recently placed under federal conservatorship, paid his campaign manager's firm $15,000 a month between 2006 and August 2008."
Next time, get your facts straight.
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