President Barack Obama offered mortgage relief on Monday to hundreds of thousands of Americans, his latest attempt to ease the economic and political fallout…
Query by Stephanie S: Obama referred to as it a tax cut, but who do you think will spend for all of his “silly projects”? US….dah!?
WE WILL spend dearly for his so known as “stimulus” plan. Give me a break folks. All who answered that I did not know what I was talking about have been brain washed by his smooth talk. Feel about it. Income doesn’t grow on trees. Wait and see, you naive men and women. Do you realize that you lefties are the ones that got us in this mess in the initial location. Did not your parents teach you to reside within your indicates, or do you not realize that comment?
Best answer:
Answer by The Breeze
Yeah, do not you just hate it when a President rolls up deficits so huge our fantastic-wonderful-great-wonderful grandchildren will nevertheless be paying for them?
How come I never heard you complain when your demigod Bush was carrying out this?
Add your personal answer in the comments!
Query by asuku t: Blame Obama guys – Was stimulus package implemented by only the USA?
I recognize other nations like Britain, Germany and France and so on did the stimulus thing.
What would have occurred if Obama did not stimulate the American economy?
Has any of your private billionaires (Oprah, Bill Gate, Warren Buffet and so on) you so considerably supported come out with their hoarded cash to stimulate the Economy?
Why fight Obama for private firms/organizations that take away your jobs abroad in the interest of producing far more profit?
Do you actually consider greedy businessmen care a damn about ordinary Americans?
The huge organization got Bush tax cuts going on. How has that produced them to give you more jobs?
When did you ever see big company return money to the government or to employee in challenging times?
You preserve becoming greedy hoping to recognize your American dream and supporting rotten greedy intense capitalism(greedism) for that purpose.
Do you understand that capitalism is not meant to offer every person jobs/riches?
If you support other people to be billionaires (by them monopolizing the economy), how will earning peanuts from the super rich make you wealthy/pleased?
Did you know that the single factor most accountable for all human economic problems is GREED?
DO YOU Check ON YOUR Personal GREED?
Very best answer:
Answer by SayAgain
The stimulus didn’t stimulate anything so your query is pointless.
Give your answer to this query below!
Query by Green Eyed Gila: Obama supporters why do you blame the Republicans for the financial situation when it was the Democrats who ?
voted against legislation in 2005 that would have prevented some of the mess we see right now?
“I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for fast passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the huge threat that Fannie Mae and Freddie Mac pose to the housing market place, the all round financial program, and the economy as a complete.”
(A bill that attempted to fix the fiasco signed into legislation in 1992)
And do the folks who took out mortgages for loans they could not afford also not bare any responsibility?
http://www.govtrack.us/congress/bill.xpd?bill=s109-190&tab=summary
Ten Points to the first Democrat that tells me which Republican said the above quote.
Ideal answer:
Answer by John McCain
You tell em boy! Like I said, the fundamentals of the Economy is robust! I’ve got 7 property to prove it!
Ohhhhh Ciiiiiiiiiindy… Will ya bring me the Ben-Gay please. I’ve got an ache in my shoulder that is hurtin like a son of a B*&%$ @!
Give your answer to this query below!
Query by SupaStar: Why is the GOP ‘smart’ adequate to figure out NASCAR, but as well dumb to understand Obama is way ahead on points?
Other than the actual election, this is the only poll that matters:
(270 votes necessary to win the Presidency)
Robust Dem (253)
Weak Dem (32)
Barely Dem (73)
total: 358
Exactly tied ()
Barely GOP (13)
Weak GOP (42)
Powerful GOP (125)
total: 180
http://electoral-vote.com/
Very best answer:
Answer by Michael
polls are worthless and the numbers are hardly ever fair.
-1 for getting a mindless lemming
Know greater? Leave your personal answer in the comments!
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!
Question by Julius S: Should Obama replace Timothy Geithner with Paul Krugman as Treasury Secretary?
In the deregulation-minded Reagan era, old-fashioned banking was increasingly replaced by wheeling and dealing on a grand scale. The new system was much bigger than the old regime: On the eve of the current crisis, finance and insurance accounted for 8 percent of G.D.P., more than twice their share in the 1960s. By early last year, the Dow contained five financial companies — giants like A.I.G., Citigroup and Bank of America.
And finance became anything but boring. It attracted many of our sharpest minds and made a select few immensely rich.
Underlying the glamorous new world of finance was the process of securitization. Loans no longer stayed with the lender. Instead, they were sold on to others, who sliced, diced and puréed individual debts to synthesize new assets. Sub-prime mortgages, credit card debts, car loans — all went into the financial system’s juicer. Out the other end, supposedly, came sweet-tasting AAA investments. And financial wizards were lavishly rewarded for overseeing the process.
But the wizards were frauds, whether they knew it or not, and their magic turned out to be no more than a collection of cheap stage tricks. Above all, the key promise of securitization — that it would make the financial system more robust by spreading risk more widely — turned out to be a lie. Banks used securitization to increase their risk, not reduce it, and in the process they made the economy more, not less, vulnerable to financial disruption.
http://www.alternet.org/workplace/133775/krugman%3A_the_market_wizards_were_exposed_as_frauds_–_too_bad_obama%27s_team_still_believes_in_their_magic/
Attention Ditto Heads: This is a serious question, so please treat it as such. I recognize that Lush Rimbaugh has been trashing Timothy Geithner, but Lush is negative for negative sake, not because he wants to make America better.
Attention: Obamabots, Barack Obama has shown that his Wall Street buddies are more important than America’s best interest. If that weren’t true, Barack Obama would not have waited almost 3 months: to propose regulating credit default swaps that were specifically unregulated by Phil Gramm and the Republican Cabal of Reagan Devolutionists; to reinstate the 70 year old SEC Uptick Rule requiring shortseller stock market manipulators to sell at higher stock prices; to return the power to bankruptcy court judges to renegotiate first mortgages and cram down sub-prime mortgages and underwater mortgages for all honest Americans.
Best answer:
Answer by Isabella
Debate it on disagreewithobama.com
Add your own answer in the comments!
Question by Iceman: has Obama repealed the Community Reinvestment Act yet, since it is what caused the crisis?
It is the biggest thing. The subprime mortgage crisis was the foundation for this mess.
future fate – obviously you know nothing about the Community Reinvestment Act. Several economic experts point to this forcing banks to give out bad loans.
Best answer:
Answer by Believe in Possibilities
I wish it were that simple, but it is not what caused the crisis. That is right-wing propaganda.
Know better? Leave your own answer in the comments!
Question by Jim R: Why is Obama blaming Wall Street executives for the economic crisis ?
For the most part, Wall Street was playing by the rules which were set and/or mandated by Congress. Why are Barney Frank, Chris Dodd, the Carter/Clinton Community Reinvestment Act, etc held blameless by this President-Elect? Moreover, why should we trust/allow these same politicians who helped to create the crisis to be tasked with solving the issue?
Best answer:
Answer by The Breeze
uh, maybe because they caused it and now they are flying to Washington DC on their private Lear jets, begging for handouts? Duh…
Add your own answer in the comments!
