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  #1  
Old 09-29-2008
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Default A Big Part Of why The Market Crashed

WHAT exactly does a "community organizer" do? Barack Obama's rise has left many Americans asking themselves that question. Here's a big part of the answer: Community organizers intimidate banks into making high-risk loans to customers with poor credit.

In the name of fairness to minorities, community organizers occupy private offices, chant inside bank lobbies, and confront executives at their homes - and thereby force financial institutions to direct hundreds of millions of dollars in mortgages to low-credit customers.

In other words, community organizers help to undermine the US economy by pushing the banking system into a sinkhole of bad loans. And Obama has spent years training and funding the organizers who do it.

THE seeds of today's financial meltdown lie in the Commu nity Reinvestment Act - a law passed in 1977 and made riskier by unwise amendments and regulatory rulings in later decades.

CRA was meant to encourage banks to make loans to high-risk borrowers, often minorities living in unstable neighborhoods. That has provided an opening to radical groups like ACORN (the Association of Community Organizations for Reform Now) to abuse the law by forcing banks to make hundreds of millions of dollars in "subprime" loans to often uncreditworthy poor and minority customers.

Any bank that wants to expand or merge with another has to show it has complied with CRA - and approval can be held up by complaints filed by groups like ACORN.

In fact, intimidation tactics, public charges of racism and threats to use CRA to block business expansion have enabled ACORN to extract hundreds of millions of dollars in loans and contributions from America's financial institutions.

Banks already overexposed by these shaky loans were pushed still further in the wrong direction when government-sponsored Fannie Mae and Freddie Mac began buying up their bad loans and offering them for sale on world markets.

Fannie and Freddie acted in response to Clinton administration pressure to boost homeownership rates among minorities and the poor. However compassionate the motive, the result of this systematic disregard for normal credit standards has been financial disaster.

ONE key pioneer of ACORN's subprime-loan shakedown racket was Madeline Talbott - an activist with extensive ties to Barack Obama. She was also in on the ground floor of the disastrous turn in Fannie Mae's mortgage policies.

Long the director of Chicago ACORN, Talbott is a specialist in "direct action" - organizers' term for their militant tactics of intimidation and disruption. Perhaps her most famous stunt was leading a group of ACORN protesters breaking into a meeting of the Chicago City Council to push for a "living wage" law, shouting in defiance as she was arrested for mob action and disorderly conduct. But her real legacy may be her drive to push banks into making risky mortgage loans.

Link:
O'S DANGEROUS PALS - New York Post


I did not write this article I am just posting a view on why the market is crashing.

Last edited by smile; 09-29-2008 at 05:56 PM.
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  #2  
Old 09-30-2008
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This explains it

Democratic Central:: George W. Bush is a Reptilian Humanoid
The UWM Post - John McCain found to be Reptilian
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Old 09-30-2008
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Both parties are to blame here
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Yup Smile. The Entire government is to be blamed, both Bush, Republicans, and Democrats.

Im about to hop on the bandwagon for semi socialism. Bail the tax paying citizens out not the huge corporations.

My company I think is about to go offshore through a Panamian IBC if our government does not make the right decisions.
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Old 09-30-2008
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Speaking of "semi socialism", I don't know why the Republicans are so dead set against publicly funded (not socialized) health care. The term "socialized medicine" is primarily used in the US - and mostly by politicians.

McCain rails about saying that it doesn't give citizens a choice. Living here in Canada, I can walk into any local clinic and be seen without an appointment. All I need to do is show my health care card and, after the visit is over, I simply leave. No bills to pay. If I ever need to go to the hospital, I simply go. Again, all I need to provide is my health care card and, when I'm ready to leave, I leave. Again, no worries about bills. No needing to go bankrupt because I can't afford to pay bills due to overcharging by the health care system. It seems like the old, familiar dictum "First, do no harm" has been changed in the US to "First, do no harm - there's enough time for that later"
If I choose to have a personal doctor, I make the choice of who I want.

The biggest health care problem we currently have is that a lot of our medical personnel want to head south, across the border, because they can "make a killing" in the US.

The health care industry (and it is an industry) in the US is geared towards making insurance companies and drug companies wealthy. Period. Oh... I guess that explains why the Republicans are against it.

If you have not seen Michael Moore's "Sicko", take some time and watch it. It's a real eye opener.

Last edited by Quasi_Mojo; 09-30-2008 at 05:51 PM.
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Hey Smile,

Do a little research on the "up-tick" rule and the "account to market" rule in the Sarbanes Oxley bill. Only an, well lets say intellectually lazy, public would blame one party over the other.

The US has gotten so mind numbing lazy in actually analyzing the issues, its not even funny. This is why Rush Limbaugh ans Sean Hannity are so popular. No one wants to look at the whole issue, but instead blame the other party. I know, I have heard it all before, Democrat BAD, Republican GOOD. Bush angel, Clinton devil....

Plenty of blame to go around. I bet if you check the pockets of your hero politicians, you will find plenty of Fannie and Freddie lobbyists' money. After all, when that devil Clinton was President, did he not have to go through a Republican congress?

Just food for thought.....lets all take it with a grain of salt....
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TMiles2564

I know all about and studied it.
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Old 10-01-2008
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The parties have gotten about the same now. Obama and McCain now both just want to take trillions of taxpayer dollars and give them all to rich CEOs who caused their companies to go bankrupt. That money won't spur the economy, but will just go to the million dollar a day sallaries of these people. About the only one in the government who opposes it is Ron Paul.
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Old 10-02-2008
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o yeh thats why we don't need the federal reverse. thats why you guys should have voted for Ron Paul instead of McCain and Obama. It blows me away that people that think Obama is a guy good guy. gezz you guys... ok ok go to google and type up 'Obama foreign policy and you will see that Obama is going to invade pakistan and afghanistan even more. McCain and Obama has the same foreign policy. people you gotta wake up... the Revolution is NOW!!!
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Old 10-02-2008
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Every one in here thinks obama is god and is going to fix and save all of us here in the usa . Hes a lier and a thug and all his south side chicago crooked buddys
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Old 10-02-2008
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I think it is crazy how the American political system is changing before our eyes. I think we have fallen far from our origins of being a nation that is "for the people," a nation of freedom and liberty. It seems our nation is no longer a democracy but rather more like a bureaucracy in a since. All these Congressmen and high powered political figures seem to thug their way in office and continue to pocket tax money and get away with it. This nation needs change and a positive change fast or we are doomed!!
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Quote:
Originally Posted by flash2782 View Post
Every one in here thinks obama is god and is going to fix and save all of us here in the usa . Hes a lier and a thug and all his south side chicago crooked buddys
im with you all the way on this one
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Old 10-04-2008
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My mattress factory shares are booming!
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Quote:
Originally Posted by flash2782 View Post
Every one in here thinks obama is god and is going to fix and save all of us here in the usa . Hes a lier and a thug and all his south side chicago crooked buddys

Did you mean all the Op's? Or a generalization for the whole forum? I think that here is no single candidate for the USA election that has any skills to run the country.

The way things are politically in the USA, UK and Australia, I am considering
moving to Antarctica. Politicians sux overall.
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Quote:
Originally Posted by Modee View Post
After each Bush, we have had recession!
well i think we going into depression soon so pull your socks up and be prepared. even if it doesn;t happened it doesn;t hurt to be prepared.
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Its going to take many years
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Old 10-16-2008
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Default Socialized medical care - Publicly funded - just words

Why is it that people in Canada who are on years long waiting lists for surgery because it is not a matter of life or death - come to the US and PAY to have it here? Why are all your doctors heading south? Of course they want to make more money! Wouldn't you?? Can anyone come up with a single industry that the US Govt. runs better and more efficiently that the Private sector? I will always have private health insurance - no matter the cost, because I want the best doctors and that is where they will be. I have never heard of a single American going to Canada because they want the best doctors and treatments and that is where to go. No, it is always the other way around. Yes, it is expensive. But getting the best health care is not really a universal right. The American people cannot afford to provide the best, most cutting edge health care to everyone. No country can. The wealthy will always get the best. Isn't that what Capitalism is all about?? I work hard and I resent the amount of taxes that I already pay. What is the tax rate in Canada? I have never heard that Canada is a model for "publicly funded" health care. How is this different than socialized health care? What if my good doctors do not want to participate in this "Publicly funded" health care? I will be given a list of doctors who do. Now which list do you think that the best and brightest doctors will be on? You go to medical school for 9 years, work your butt off and find a specialty. Do you really want the government telling you how much you can charge? No, the best doctors and hospitals will go private. Right now the US has the best medical care in the world. I would hate to see the standard of care lowered so that people who can't pay - and who would want to if they don't have to, are offered free care. This is the classic - NO FREE LUNCH scenario that they teach you in the first year of Business school.
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Quote:
Can anyone come up with a single industry that the US Govt. runs better and more efficiently that the Private sector?
Yes. The post office.
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Old 10-28-2008
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You want to know why the markets crashed? Look around folks, you might see it while you get your mail after parking your new suv into your garage at your nice house. However you might not realize it until you call your mother on your cell phone after checking your messages on your new computer. But then you might miss it still but surely you'll see it after watching a Blueray on your big screen. Unless you fell asleep on your leather couch after getting filled up on takeout. Surely you'll realize it when your woken in the morning by the sun shinning into your large picture window and you realize your late for work, but who cares you'll just take a pto. I mean why not you still have a few left after your week in the Caribbean you took last month. But then it might hit you when your sifting through the mail you got yesterday and you get your mortgage bill your suv payment phone bill cable bill cell phone bill water bill electric bill trash bill gas bill and credit card bills and open the bank statement that says "broke mo fo". But hey its ok you got another credit card offer. WHEW!! that was close
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I can't agree with you more. I cringe when people say I just bought a new car, house, its mine!. Its not yours, its the banks. It will be your after 30 years of $1000 payments. We have a lot of crap, and we don't now it. It was bought on credit. And those people who do that, most people, can't even pay their cell phone bill when they get fired. Thats cuz they live paycheck to paycheck. No one ever saves anything in this country. Now we are getting what we deserve for all those years living worry free on credit and driving around 5mpg tanks which seats 15 people but the only person ever to sit in it is you....
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Old 10-28-2008
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Want to know the secret? Spend less then what you make and you'll never be broke.

Or if that doesn't work, earn more.

*Don't hurt me.
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Hello Friends,

No body can say what will happen. Wait and watch.
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