this is for all the Bush blamimg boobs (Page 2): You are missing the real point, Yes our legislators passed the laws but it was the "Banks" that were responsible. The all powerful...

eskiles Loc: Palmer Alaska

You are missing the real point, Yes our legislators passed the laws but it was the "Banks" that were responsible. The all powerful Banking system are the controllers of the worlds money supply. They love to put everyone behind the debt ball. Who gets the interest from debt? The Banks. They love it when a country is indebted to them. They pull the strings and we dance!

travlnman46 wrote:

bugseye wrote:

This tells the story, why Bush was so bad at the end of his term.

Some people aren't aware of all of this. Don't just skim over this, please read it slowly and let it sink in. If in doubt, check it out.
The day the democrats took over was not January 22nd 2009, it was actually January 3, 2007... the day the Democrats took over the House of Representatives and the Senate, at the very start of the 110th Congress.
The Democrat Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.
For those who are listening to the liberals propagating the fallacy that everything is "Bush's Fault", think about this:
The DOW Jones closed at 12,621.77 The GDP for the previous quarter was 3.5% The Unemployment rate was 4.6%
George Bush's Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB GROWTH Remember the day...January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.
The economic meltdown that happened 15 months later was in what part of the economy? BANKING AND FINANCIAL SERVICES!
Unemployment... to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOES!
Bush asked Congress 17 TIMES to stop Fannie & Freddie - starting in 2001 because it was financially risky for the US economy.
And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac?
OBAMA
And who fought against reform of Fannie and Freddie? OBAMA and the Democrat Congress So when someone tries to blame Bush..
REMEMBER JANUARY 3rd, 2007.... THE DAY THE DEMOCRATS TOOK OVER!" Budgets do not come from the White House. They come from Congress, and the party that controlled Congress since January 2007 is the Democrat Party.
Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 & 2011. In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.
For 2009 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the 2009 budgets.
And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete 2009.

This tells the story, why Bush was so bad at the e... (show quote)

Hi bugseye: Don't you just hate it when people are given the facts and say it isn't true. Barny Frank was the driving force that pushed the banks to give housing loans to people who could not under regular requirements qualify for a loan. What a surprise when they can't pay the money back and then claims the financial crisis was none of his doing.

quote=bugseye This tells the story, why Bush was ... (show quote)

RichardSM Loc: Back in Texas

Truth be Told is hard to except is it not ole sarg

ole sarg wrote:

Bugeye:

If you will excuse me:

BULLSHIT

ole sarg Loc: south florida

I believe your argument was dismissed earlier. So the shout still stands.

docrob Loc: Durango, Colorado

[

Hi bugseye: Don't you just hate it when people are given the facts and say it isn't true. Barny Frank was the driving force that pushed the banks to give housing loans to people who could not under regular requirements qualify for a loan. What a surprise when they can't pay the money back and then claims the financial crisis was none of his doing.[/quote]

hey there traveling man - got news for ya - Did you notice last month Wells Fargo paid 517 million to say "we did nothing wrong" in steering people of color into subprime mortage loans even though they qualified for standard loans......."but hey we did nothing wrong we just don't want the hassle of proving it in court so yeah will pony up half a billion dollars to say "we did nothing wrong."

Interesting what "truths" selective memory and lots of money can do for ya!

eskiles Loc: Palmer Alaska

All that hot air!

snydersnapshots wrote:

Interesting. I'd never really thought about it, but I think you're right on target...

And on top of all that, don't you just love the way those terrible Republicans steered the hurricane AWAY from Tampa and OVER New Orleans (spelled--Obama supporters) so as not to disrupt the convention?

bugseye

ole sarg wrote:

Bugeye:

If you will excuse me:

BULLSHIT

yeah ole sarge it's all bullshit! don't bother checking it out! keep on living in your little tube! its safe in there

eskiles Loc: Palmer Alaska

The Banking fiasco is happening worldwide. The housing problems were an act of collusion between the banks and realtors! It is called greed and like Michael Douglas said in the movie "Wall Street" "Greed is good" for the realtors and bankers. Realtors wanted to get their comission, the banks wanted their loan initiation fees and interest, both parties took the money and left the poor Sap holding the bag because they knew if the homeowner defaulted the banks would be able to take the property and start the process all over again. The only loser is the poor Sap that just wanted to have a home. Don't believe for a moment that the banks don't like foreclosure.

ole sarg Loc: south florida

ACtually it was the banks saying to others I have mortgages to secure loans - derivitives - that are worth X dollars that is the value of the loan upon being paid off. These loans were backed by insurance supplied by AIG. Well it appears that some international holders said I am calling in the loan and when the banks tried to resell the loans no one would buy them, and the insurance had to kick in and their was not enough in the insurance pool. Down goes AIG the insurer of last resort. Down goes Lehman Brothers and the entire banking system is about to go down when GW has to step in to save the worlds economy from collapse. But the banks have us over a barrel because if we try to put any constraints on them they say they will walk away. It was not that the banks were to big to fail. It was that the bankers were too rich and didn't give a damn if the banks failed or not!

To think some want to put the same kind of guy as the bankers in office as the President.

Amazing!

eskiles Loc: Palmer Alaska

Doesn't matter who is elected, The banks already have them in their pocket! AIG and Lehman weren't the big boys. The big boys let the little guys twist in the wind as scape goats.

ole sarg wrote:

ACtually it was the banks saying to others I have ... (show quote)

Vergil Loc: So, Cal.

If you get the chance watch "Inside Job" documentary. Both Rep and Dem need to see this, guarantee to get you mad ...

ole sarg Loc: south florida

AIG was not a little player. It was the largest insurer in the world.

madcapmagishion

ole sarg wrote:

AIG was not a little player. It was the largest insurer in the world.

Was being the operative word!

Bmac Loc: Long Island, NY

ole sarg wrote:

Bugeye:

If you will excuse me:

BULLSHIT

Excellent! What an intelligent response! :thumbup: :thumbup:

Wendy2 Loc: California

eskiles wrote:

The Banking fiasco is happening worldwide. The hou... (show quote)

Collusion between banks and Realtors??? Where did you EVER get that information? I have been a Realtor in California for 23 years. As the prices were escalating I wondered why buyers wanted to pay such ridiculous prices, why the appraisers were bringing in the appraisals when there was no foundation or justification for it. It made me sick. There were 10-50 offers on properties and often they would sell for $40,000-$100,000 and even more over asking price! They call it supply and demand. There was a shortage of homes for sale and many, many buyers competing against each other. Realtors had nothing to do with what happened to the prices of homes. The buyers and sellers were responsible. The sellers watched buyers clamoring to buy anything they could, so the sellers became greedy and started pushing for more money. The buyers became desperate as if there would never be another home available.

It's really hard to understand your strange take on Realtors. There are always bad apples in any profession, but most of the Realtors I know in my area are ethical and honest. Realtors DO NOT control the market nor the prices. Buyers and sellers do, along with the state of the economy.

Banks do not like foreclosures. They lose a ton of money in upkeep, costs of selling, often getting less than half of what they loaned to the buyers. That is not to say they didn't play a part in what happened. There were many entities that were greedy and dishonest, no question. And I guess they thought that they would never get caught. These entities did not think ahead because they were blinded by their greed. But they didn't set out to cause foreclosures. Foreclosing is a loss for banks, sellers and the economy.

eskiles Loc: Palmer Alaska

Wendy, as a realtor you are keenly aware of the situation of the seller trying to get the best price. The Realtor gets a comission on the sale so they are really trying to have the property sell for as much as possible. You may well be one that tried to be as fair as possible but there are as you say bad apples and the collusion between banks and realtors happen a lot. California is a prime example of over pricing properties. Bankers and realtors convincing buyers the properties will gain value over time. If the truth be known that is a valid theory, Rising population and the fact that there is a finite amount of land to build on means land will value over time but the amount of valuation is not unlimited.

Wendy2 wrote:

eskiles wrote:

The Banking fiasco is happening worldwide. The hou... (show quote)

Collusion between banks and Realtors??? Where did you EVER get that information? I have been a Realtor in California for 23 years. As the prices were escalating I wondered why buyers wanted to pay such ridiculous prices, why the appraisers were bringing in the appraisals when there was no foundation or justification for it. It made me sick. There were 10-50 offers on properties and often they would sell for $40,000-$100,000 and even more over asking price! They call it supply and demand. There was a shortage of homes for sale and many, many buyers competing against each other. Realtors had nothing to do with what happened to the prices of homes. The buyers and sellers were responsible. The sellers watched buyers clamoring to buy anything they could, so the sellers became greedy and started pushing for more money. The buyers became desperate as if there would never be another home available.

It's really hard to understand your strange take on Realtors. There are always bad apples in any profession, but most of the Realtors I know in my area are ethical and honest. Realtors DO NOT control the market nor the prices. Buyers and sellers do, along with the state of the economy.

Banks do not like foreclosures. They lose a ton of money in upkeep, costs of selling, often getting less than half of what they loaned to the buyers. That is not to say they didn't play a part in what happened. There were many entities that were greedy and dishonest, no question. And I guess they thought that they would never get caught. These entities did not think ahead because they were blinded by their greed. But they didn't set out to cause foreclosures. Foreclosing is a loss for banks, sellers and the economy.

quote=eskiles The Banking fiasco is happening wor... (show quote)