Author Topic: I have benn sending this to members of our Government  (Read 7829 times)

Offline Gene_SC

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RE: I have benn sending this to members of our Government
« Reply #15 on: March 05, 2009, 05:50:39 PM »
Tommy is right......... Open your eyes folks and look around. It does not take a degree in economics to see what is happening.. We are going into what my folks had to endure. DEPRESSION But we will never recover.
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Offline johncedarhill

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Re: I have benn sending this to members of our Government
« Reply #16 on: March 06, 2009, 01:22:46 AM »
I am surprised that no one has laid any blame on Greenspan.  By keeping rates low and ballooning the money supply greenspan fueled l the problems.  A reasonable rate of return could have helped to increase savings and decrease speculation.  The biggest problems were generated by loaning money for second mortages to fund the down payment.  When I found out that home buyers had no equity in the home, I told my wife this can't last. I said people can just walk away from their mortgages.   Municipalities reveled in the free money and made no contingent plans for the possibility of reduced receipts if the housing bubble broke. With respect to earmarks Obama campaigned on the issue of cutting them out.  What is even worse about earmarks is the fact that MO senator does not support them so the state gets back nothing from her. Then again she kept losing but running for a higher office the next time and got lucky to be elected a senator. BTW if your area has laws causing excessive testing for lead she authored it. Second hand stores have closed here as a result.  Funny thing is that we never let our kids eat their clothes or their bicycles etc.   Make nomistake this was a world wide bubble and the problems and solutions are worldwide. For me the honeymoon ended on election day.  I had hoped that if he were only half as bad as i expected we could survive. He has exceeded my expectations by far.  I could go on an on but the real answer is there is a congressional election in 2010 if we can survive that long.  TERM LIMITS EXIST--THEY ARE CALLED THE BALLOT BOX.
John
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Remember 9/11!
God bless the troops and the USA!

Offline billharmon2

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Re: I have benn sending this to members of our Government
« Reply #17 on: March 06, 2009, 02:03:41 AM »
This is from Congressman Franks website.
Claims that the Community Reinvestment Act of 1977 (CRA) forces banks to lend to unqualified minorities and low-income borrowers and is therefore a major cause of the mortgage crisis are contradicted by facts.  CRA does not require banks to make loans to risky borrowers, it only encourages them to serve their communities and qualified low-income borrowers, consistent with safety and soundness.   In fact, the great percentage of troubled, subprime loans (85%) were made by lenders who are not subject to CRA and who have no federal obligation to make loans to low or moderate-income or minority borrowers.  Default rates on loans by CRA lenders are much lower than default rates on subprime loans, and are comparable to prime loans.  Studies by the Treasury Department and Federal Reserve have shown that CRA has actually increased the volume of responsible lending to low and moderate income borrowers without negatively impacting the safety and soundness of financial institutions

Offline johncedarhill

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Re: I have benn sending this to members of our Government
« Reply #18 on: March 06, 2009, 02:07:42 AM »
What would you expect a government study to show?
John
Proud sponsor of more Boston Tea Parties
Remember 9/11!
God bless the troops and the USA!

Offline billharmon2

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Re: I have benn sending this to members of our Government
« Reply #19 on: March 06, 2009, 02:09:25 AM »
Take it for what it is worth but it is fact.

Offline johncedarhill

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Re: I have benn sending this to members of our Government
« Reply #20 on: March 06, 2009, 02:19:08 AM »
Worthless.
John
Proud sponsor of more Boston Tea Parties
Remember 9/11!
God bless the troops and the USA!

Offline billharmon2

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Re: I have benn sending this to members of our Government
« Reply #21 on: March 06, 2009, 02:24:24 AM »
Read this and form your own conclusion. I am not saying it is right or wrong or that I support it. But I did ind it interesting.
http://www.house.gov/frank/economiccrisis101108.html

Offline johncedarhill

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Re: I have benn sending this to members of our Government
« Reply #22 on: March 06, 2009, 02:47:26 AM »
With all due respect I can only assume that when you post it it reflects who you are and you beliefs. Remembet the old saying "you can't believe what you read in the newpaper?" Well the internet is worse. Of course I am participating in it but it has become more of a self defense issue. Everyone is now an expert with a generally unfounded opinion who if he or she takes the time can find something to support their opinion. However, I suggest most people don't do their homework-internetwork.
John
Proud sponsor of more Boston Tea Parties
Remember 9/11!
God bless the troops and the USA!

Offline billharmon2

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Re: I have benn sending this to members of our Government
« Reply #23 on: March 06, 2009, 02:58:00 AM »
I don't get what you are implying about me. I posted it as information. It does not reflect my views on anything about the economy.

Offline erskine

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Re: I have benn sending this to members of our Government
« Reply #24 on: March 06, 2009, 03:16:03 PM »


Bill,



It is *NOT* fact. It is a statement from Barney Frank's web site. It may or may not be true. As we have seen elsewhere, Barney Frank can not be trusted to tell the truth in all cases.



How do you feel about that fact?





Mike

Even a blind pig finds an acorn once in a while.
http://www.blindpig.org/micers/blog.html

Offline billharmon2

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Re: I have benn sending this to members of our Government
« Reply #25 on: March 06, 2009, 03:20:46 PM »
I am not supporting him. But most of what is said in there can be verified. I posted it simply for informational puposes.

Offline erskine

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RE: I have benn sending this to members of our Government
« Reply #26 on: March 06, 2009, 03:25:24 PM »


The Biggest Problems were caused by ...



This is where everyone wants to fill in the blank in their own way. This is MY way.



Greed.



Greed.



Greed.



Anyone who does not get that, will never get to the bottom of this problem.



We had thousands, maybe hundreds of thousands of people who took a subprime adjustable rate mortage to buy a house they intended to resell in a year or two for profit. We had banks that wanted them to take the loans. We had congressmen who encouraged it because it meant that EVERYONE was entitled to a home. Everyone won, in the short term.



Sure Greenspan was an idiot, but do you remember how many people fell at his feet, kissed his ass and pretended he was the Christ risen? Guess what, that is what some are doing with Obama. Trust me, that is equally stupid.



Greed. This is about GREED. This is about Americans of ALL STRIPES, wanting MORE.



This happened because we thought we could make more money. We thought we could turn a profit.



GREED, pure simple GREED



... and yes Barney Frank and Chris Dodd had their hands in it in a MAJOR way ...



... so did Fannie and Freddie ...



... so did a lot of plain old citizens ...



Even a blind pig finds an acorn once in a while.
http://www.blindpig.org/micers/blog.html

Offline TCups

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RE: I have benn sending this to members of our Government
« Reply #27 on: March 06, 2009, 05:18:47 PM »
Profit isn't the same as greed
Wealth isn't the same as dishonesty
Hard work, thrift, and productivity are good.  Accumulation of wealth and human capital are good and can be put to good and noble uses, independent of the government telling us how our wealth must be "redistributed".  Independence and wealth -- the pursuit of happiness, if you will -- is the American Dream.  It is freedom in action.

Please read Thomas Sowell or Fredrisch Hayek if you wish to come to grips with the basic principles of free market capitalism and its dismal alternatives.  If both the means of production and the accumulation of wealth are to be strictly regulated by any government, then the people are enslaved.  We have been screwed and our future generations have been sold into financial taxation slavery.  The current tax and spend entitlements are heavier chains than ever forged in the furnaces of Hell.  But don't worry!  Master Obama and the Democratic government will protect us from the excesses of greedy capitalists, and from global climate change, etc.

By the way, has anyone done the arithmetic?  I wonder -- for each 1,000 point drop in the Dow Jones Industrial Average, how many thousand Americans become unemployed? 8X? 10X?  but never mind -- don't worry.  Those greedy, rich bastards are getting what they deserve!  No more corporate jets.  No more resort conferences.  No more executive bonuses.  And the welfare state will be there to pick up what is left over after the deluge.  Who better than Obama and Frank and Pelosi and Reed to decide what is "fair" and appropriate for working, tax-paying Americans?

So fear not, Obama will take care of us!  We are entitled to nothing less!  Socialism.  Idiocy.  Reality.  We have done this to ourselves. No need to point the finger of blame at any one else.   Elections have consequences.  Sorry, kids.  Enjoy the ride and have a nice day.  

God help us, please.  Amen.



Offline billharmon2

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Re: I have benn sending this to members of our Government
« Reply #28 on: March 07, 2009, 12:18:44 AM »
Yes we are in trouble. We are stuck with the government we have for now. All the more reason for everyone here to get on the phone, use your computer or just a pen and papaer and let your congressman and the president know how you feel. Don't sit idle do something. Yes some of you may think it is a waste of time but at least you are doing something.
Every E-mail address you need is right here.
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Offline 3n00n

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