0
   

They gave your mortgage to a less qualified minority...

 
 
gungasnake
 
  3  
Reply Sun 28 Sep, 2008 09:28 pm
@joefromchicago,
Apaprently McCain was "implicated(TM)" in the Keating scandal because the dems needed one pubbie in the picture to prevent the picture looking like what it was. Every account I've ever read about the thing indicates that McCain was totally innocent.
cicerone imposter
 
  3  
Reply Sun 28 Sep, 2008 09:50 pm
@gungasnake,
This is what Wiki says about McCain:

Quote:
"...cleared of impropriety but criticized for poor judgment..."


Yeah, that's all we need, a president with "poor judgment."
gungasnake
 
  1  
Reply Sun 28 Sep, 2008 09:54 pm
@cicerone imposter,
Wikipedia is utterly worthless for any topic involving any sort of controversy. It's useful for things like "How does a steam engine work?" or "When were cannons first used in warfare?"
0 Replies
 
Finn dAbuzz
 
  2  
Reply Sun 28 Sep, 2008 10:17 pm
@cicerone imposter,
Quote:
"...cleared of impropriety but criticized for poor judgment..."


Actually, that's pretty accurate.

Look up what the ethics committee found about the four Democrats - particularly Alan Cranston who was retiring that year.

Who hasn't been guilty of poor judgment?

Obama?

The fact of the matter is that Repulicans, including McCain, heeded Greenspan's warning and sought to increase regulation of Fannie Mae and Freddie Mac, but were stymied by Democrats led by Frank, Dodd and Schumer.

Obama didn't vote on the measure. He wasn't present.

barackman28
 
  1  
Reply Mon 29 Sep, 2008 12:33 am
@joefromchicago,
Of course, he was implicated in the Keating Five Scandal. Everyone knows about that but those who have watched carefully have seen the Republican Slime Machine attempt to link Senator Obama to the convicted scum bag Rezko.
That is a ploy right out of the McCarthy era. Just because Rezko happened to buy a property near Senator Obama's house, the smear merchants cry foul.
The Republicans will lie repeatedly to smear Senator Obama. So Senator Obama knew Rezko. So did five thousand other Chicagoans!
0 Replies
 
gungasnake
 
  1  
Reply Mon 29 Sep, 2008 03:02 am
SlicKKK's take on the subject.......

http://www.freerepublic.com/focus/f-news/2092918/posts

Quote:

Going very much against the media meme that the current financial crisis is all George W. Bush and the Republicans’ fault, Bill Clinton on Thursday told ABC’s Chris Cuomo that Democrats for years have been “resisting any efforts by Republicans in the Congress or by me when I was President to put some standards and tighten up a little on Fannie Mae and Freddie Mac” True. President Bush warned about reforming Freddie Mac and Fannie Mae 17 times this year alone. John McCain’s reform bill was blocked by dems in 2005. Thank you, Bill Clinton!


0 Replies
 
joefromchicago
 
  1  
Reply Mon 29 Sep, 2008 06:26 am
@gungasnake,
gungasnake wrote:
Every account I've ever read about the thing indicates that McCain was totally innocent.

... says the guy who reads anncoulter.com.
0 Replies
 
OmSigDAVID
 
  1  
Reply Mon 29 Sep, 2008 06:44 am
@gungasnake,
I 'm glad I don 't have any outstanding mortgages.
0 Replies
 
joefromchicago
 
  2  
Reply Mon 29 Sep, 2008 09:58 am
Quote:
Before I turn to potential interventions, I want to make one final point. There has been a tendency to conflate the current problems in the subprime market with CRA-motivated lending, or with lending to low-income families in general. I believe it is very important to make a distinction between the two. Most of the loans made by depository institutions examined under the CRA have not been higher-priced loans, and studies have shown that the CRA has increased the volume of responsible lending to low- and moderate-income households. We should not view the current foreclosure trends as justification to abandon the goal of expanding access to credit among low-income households, since access to credit, and the subsequent ability to buy a home, remains one of the most important mechanisms we have to help low-income families build wealth over the long term.

Janet L. Yellen, President and CEO, Federal Reserve Bank of San Francisco

Quote:
Put simply, the freezing up of the credit markets doesn’t have anything to do with either affirmative action or illegal immigration, and people who believe it does are on a par with the conspiracy theorists who think fluoridation is a Chicom plot.

When you look at the data, it’s true that minorities are slightly over-represented in the sub-prime mortgage market. Yet, whites (non-minorities) received 72.5% of subprime mortgages. Blacks got 16.2% of subprime mortgages, which isn’t all that different from the 12.4% of the general population that blacks comprise. The Hispanics about whom Malkin is so hysterical got only 6.2% of subprime mortgages, significantly less than their 14.8% of the general population. But you don’t find an analysis of that data at blogs like those of Malkin or Krikorian.

Stephen Bainbridge
cicerone imposter
 
  1  
Reply Mon 29 Sep, 2008 10:17 am
@Finn dAbuzz,
Finn, Are you trying to tie Obama to the Keating Five now? ROFL
0 Replies
 
barackman28
 
  2  
Reply Mon 29 Sep, 2008 05:14 pm
@joefromchicago,
Are you one of the Repbulican dogs who sniff at Madigan's heels? You are correct that, after President Clinton pressed the Congress to loosen up credit to buy homes more Hispanic and Black home buyers went into the market, but if you think that the greedy real estate firms did not press our people to take ARM's and buy with no money down, you are looney. I have a sheet listing the number of foreclosures in the fifty wards of Chicago. Guess where most of the foreclosures are? Not in Lincoln Park!!!!!
joefromchicago
 
  0  
Reply Mon 29 Sep, 2008 06:03 pm
@barackman28,
http://www.aphids.com/stan/blog/images/possum.jpg
0 Replies
 
barackman28
 
  1  
Reply Mon 29 Sep, 2008 09:27 pm
@joefromchicago,
I don't know if Joe from Chicago, who is supposed to be a lawyer, I think, wins any of his cases in the hallways of 22nd and California because his logic is non existent.

His source says that "MOST of the loans made by depository have not been higher-priced loans" What does MOST mean? 80%; 72%; 51%? The source is strangely silent on that score.

His other source says that "Blacks got 16.2 of sub-prime mortgages, which isn't all that different from the 12.4 of the general population that blacks comprise."

But the attorney doesn't make any distinctions between sub-prime mortgages.
That is a fatal error in his blurb. If he had access to mortgage activity in the city of Chicago( he should) he would find that Blacks and Hispanics had been coaxed by rapacious and greedy real estate agents to buy with no money down and then an additional bridge loan written up as an ARM to pay for the first year mortgage.

0 Replies
 
barackman28
 
  1  
Reply Tue 30 Sep, 2008 03:40 pm
@joefromchicago,
Joe from Chicago really should know better but since he is obviously unwilling to pin the blame on the greedy racist mortgage companies, he either does not know or does not want to know the following:

Crain's Chicago Business -June 24, 2008

"Illinois Attorney General Lisa Madigan is suing Countrywide Financial Corp. claiming that the company knowingly put borrowers in mortages they couldn't afford leading to thousands of residents losing their homes...the suit alleges that Countrywide Financial""engaged in unfair and deceptive practices including the loosening of underwriting standards, structuring unfair loan products with risky features, engaging in misleading marketing and sale techniques and incentivizing employees and brokers to sell more and more loans with risky features"

And who do you think were easy prey for those "practices--misleading marketing-- and risky features?

They were poor black and Hispanics who usually did not have the wherewithal to hire a lawyer to help them understand the contracts they were signing.

Maybe Joe from Chicago could help these people PROBONO!
0 Replies
 
 

Related Topics

Boooo To The University Of Ottawa - Discussion by djjd62
Did someone finally deck Ann Coulter? - Discussion by BumbleBeeBoogie
Ann Coulter's Next Book - Discussion by gungasnake
Ann Coulter Nails It - Discussion by cjhsa
Obama Hails A Unicorn - Discussion by Miller
Importing a Slave Class - Discussion by Miller
Ann Coulter's "Merry Imus"! - Discussion by Miller
 
Copyright © 2019 MadLab, LLC :: Terms of Service :: Privacy Policy :: Page generated in 0.03 seconds on 04/21/2019 at 04:05:21