Query by a bush household member: Considering that The Financial Mess Was Created By Obama And Other Democrat Politicians, Must They Give Up..?
their salaries, and function for cost-free? Like the way they want automakers’ CEOs to do?
1) The final Democrat president designed the housing bubble which is now collapsing. http://www.frbsf.org/publications/economics/letter/2006/el2006-30a.gif (non biased U.S. Federal Reserve web site)
2) Democrats triggered the housing bubble to collapse by lowering customer confidence (adverse campaigning) and by encouraging home builders to overbuild by employing illegal immgrant labor to generate 100% to 400% earnings. ( Democrats blocked huge efforts created by President Bush to fine employers of illegal immigrants.)
3) Clinton ignored a government report that stated bank derivatives had been dangerous to the economy. He also threatened to fine banks that had been not giving loans to poor individuals.
4) Clinton, ACORN, OBama, and Rubin pushed for changing laws to offer a lot more risky loans.
6) Obama and other Democrats voted for weak border handle which decreases wages, increases joblessness, lowers the normal of living, etc.
7) Democrats blocked President Bush’s GSE reform (Fannie Mae and Freddie Mac reform) by filibustering in congress..
8) $ 700 billion was spent to repair Clinton’s bank derivatives issue.
9) Democrats elevated our dependence on foreign oil. That increases gas bills, hurt the economy, decreased national security, and is providing other countries hundreds of billions of dollars yearly. Also, it als financially aids numerous countries which do not have our best interests in mind.
Because 2001, President Bush warned of the issue and put forward plans to fix Fannie Mae and Freddie Mac:
http://www.whitehouse.gov/news/releases/2008/09/20080919-15.html
In 2003, “Spurred by worries that Fannie and Freddie had been cooking their books and taking as well many risks, Treasury Secretary John Snow proposed putting the businesses beneath Treasury oversight with strict controls more than threat and capital reserves. The NYT labeled the proposal “the most substantial regulatory overhaul in the housing finance business because the savings and loan crisis a decade ago””
http://www.usnews.com/blogs/sam-dealey/2008/9/10/barney-franks-fannie-and-freddie-muddle.html
In 1997 Clinton “actively sponsored ” risky home loans :
“”…speedy development in affordable-loan programs and subprime lending…”
“The development in these [specific loan] programs has been actively sponsored by the Clinton administration ”
“The presently robust housing industry is due in part to the initiation of a wide assortment of cost-effective home-loan programs. These programs are intended to advantage low-earnings and minority households and neighborhoods by way of much more versatile underwriting policies. These policies consist of low-downpayment specifications, larger acceptable ratios of debt payment to revenue, the use of option credit history information such as records of payments for rent and utilities, versatile employment standards, and decreased cash reserve needs. The development in these programs has been actively sponsored by the *** Clinton administration *** in a concerted effort to raise home-ownership rates.”
Mortgage Banking [News] – Aug 1, 1997
One particular of Clinton’s Freddie Mac changes:
“Freddie Mac, one particular of the primary government-sponsored enterprises involved in the obtain of mortgages, not too long ago announced plans to enter the secondary marketplace in subprime loans by purchasing substantial numbers of “A minus” subprime mortgages by 1998 and the higher-threat “B and C” loans by 1999.(20) ”
1 of Clinton’s modifications to foreclosure insurance coverage ( that protected banks ).
“On June 6, 1996, President Clinton announced that he had directed FHA to decrease the up-front mortgage insurance premium (UFMIP) for 1st-time homebuyers who obtain housing counseling”
Democrats’ response to President Bush’s reform of Fannie Mae And Freddie Mac.
“These two entities—Fannie Mae and Freddie Mac—are not facing any kind of monetary crisis,” mentioned Representative Barney Frank of Massachusetts, the ranking Democrat on the Economic Services Committee. “The much more men and women exaggerate these troubles, the much more stress there is on these companies, the much less we will see in terms of affordable housing.”
http://www.usnews.com/blogs/sam-dealey/2008/9/10/barney-franks-fannie-and-freddie-muddle.html
Democrat Barney Frank: In April 2004, Fannie announced a multibillion-dollar financial “misstatement” of its own. Mr. Frank was back for the defense. Fannie and Freddie posed no danger to taxpayers, [ Barney Frank ] said, adding that “I consider Wall Street will get over it” if the two collapsed. Yes, they are undoubtedly “over it” on the Street now that Uncle Sam is guaranteeing their Fannie paper, and even Fannie’s subordinated debt.
http://www.wsj.com/write-up/SB122091796187012529.html?mod=article-outset-box
[ Democrat Barney] “Frank was publicly arguing for an increase in the size of their combined $ 1.4 trillion portfolios right up to the day they had been bailed out. Even now, following he’s been proven wrong about a taxpayer guarantee, he opposes Treasury’s planned reduction in the size of the portfolios starting in 2010, according to a quote attributed to him in this newspaper last week. “Great luck on that,” he reportedly said. Mr. Frank’s spokeswoman hung up the phone when we sought confirmation Tuesday” … “For years, Mr. Frank and other pals of Fan and Fred opposed not only bills written to limit the size of their portfolios”
Wall Street Journal.
http://www.wsj.com/post/SB122161010874845645.html?mod=article-outset-box
Ideal answer:
Answer by how is babby formed
Do they want the CEOs to function for cost-free or do they want them to give up their private jets?
Add your personal answer in the comments!
