How much power did the lefties have after '93?

 

The GOP took over the Congress in '94's elections. They did not lose it again until '06. That is 12 years that this was happening. If it started in '93, how can it be the lefties' fault if for 12 of those years Congress was controlled by the Righties who oversaw Fannie and company? :popcorn:

You can put the popcorn down, just take a look at the organizations that I'm talking about. I didn't say government, I just said Lefties. You can include the Media in that.

You can put the popcorn down, just take a look at the organizations that I'm talking about. I didn't say government, I just said Lefties. You can include the Media in that.

 

:lol:

 

I never knew there was such pull. When I applied for a mortgage, I should have called the media to push for me a better rate. :lol:

:lol:

 

I never knew there was such pull. When I applied for a mortgage, I should have called the media to push for me a better rate. :lol:

You need to do some research. What exactly do you think organizations like ACORN are all about? Still laughing? Ever hear of White Guilt? How about people like Jesse Jackson? Still funny? How about Al Sharpton? Forgetful of how these people and many like them do everything to go after corporations, banks included ,and create the kind of problems we're talking about here? :sssh:

You need to do some research. What exactly do you think organizations like ACORN are all about? Still laughing? Ever hear of White Guilt? How about people like Jesse Jackson? Still funny? How about Al Sharpton? Forgetful of how these people and many like them do everything to go after corporations, banks included ,and create the kind of problems we're talking about here? :sssh:

 

 

And you need a chill pill.

 

The truth is you insinuated that lefties brought on this crisis with mortgages to minorities. It's already been pointed out that this represents very little of the # of mortgages let alone the # of defaulted mortgages.

 

The reality is that there have been many more non-minorities that have defaulted than minorities so your original premise holds nothing.

 

I find it amusing and sad that you state it's the lefties since '93 and then decide to bring in some outside pressures that were brought to influence banks. Yet the people who had legislative oversight of the Fed loans were held in control by the righties.

 

The truth is that banks, like Mr. Network pointed out, were caught up in trying to get money out there and put it to work while others were willing to take it who could not afford it. It has NOTHING to do with race or your assertion. It has everything to do with willing givers meeting willing receivers. Your attempt to paint this as a left vs. right or even worse, a minority cause makes me want to :puke:

And you need a chill pill.

 

The truth is you insinuated that lefties brought on this crisis with mortgages to minorities. It's already been pointed out that this represents very little of the # of mortgages let alone the # of defaulted mortgages.

 

The reality is that there have been many more non-minorities that have defaulted than minorities so your original premise holds nothing.

 

I find it amusing and sad that you state it's the lefties since '93 and then decide to bring in some outside pressures that were brought to influence banks. Yet the people who had legislative oversight of the Fed loans were held in control by the righties.

 

The truth is that banks, like Mr. Network pointed out, were caught up in trying to get money out there and put it to work while others were willing to take it who could not afford it. It has NOTHING to do with race or your assertion. It has everything to do with willing givers meeting willing receivers. Your attempt to paint this as a left vs. right or even worse, a minority cause makes me want to :puke:

Everything I've said has either gone right over your head, or in one ear out the other so, what's the point of continuing?

So, you and I have no responsibility if we make poor financial decisions for ourselves and get ourselves into poor financial position.

 

I say both are at fault.

People for not being responsible.

Banks for not making good business decisions.

Both should have some negative consequences for the bad decisions and not get totally bailed out.

 

There is an old saying pain is nature's way of saying "Don't do that." If there is no pain to what is going on, then we are doomed to repeat it as a country.

 

 

I am saying if the bank is loaning money to folks that are below their standards what do they expect is going to happen?

 

I agree if you get the loan you should pay.

Apparently, I need to make a clarification about this thread. There are at least 3 posters that are confused as to what this thread is about, so I’m going to clarify. This is NOT about the poor ruining the banks or our economy. It IS about those that push for agendas such as loaning money to people that couldn’t have possibly paid it back. No hatred for the poor here, just distain for those that force the hand of the institutions to practice bad lending and in essence help cause the quagmire we’re in. I hope this clears thing up a bit.

The problem was caused by lending money to people who had neither the ability nor the inclination to repay the loan. It was completely and entirely fueled by the necessity to put money to work. Call it greed if you want, but things were so good in the economy that people thought the risk was worth the reward with investing in Mortgage Backed Securities.

 

Hindsight is always 20/20 but most bankers and experts saw this result coming.

Bravo. :clap: :clap:

Minorities getting loans did not cause this.

 

Unworthy people getting that much credit did.......and greedy, unworthy people running financial institutions.

 

 

Section 8 housing DOES ruin neighborhoods though.

From my Dave Ramsey class tonight on dumping debt.

 

More college students filed for bankruptcy than graduated from college.

Colleges are losing students more to financial problems leading to them dropping out to pay off debt (mostly credit card) than they are to academic failure.

From my Dave Ramsey class tonight on dumping debt.

 

More college students filed for bankruptcy than graduated from college.

Colleges are losing students more to financial problems leading to them dropping out to pay off debt (mostly credit card) than they are to academic failure.

I do know some people (in college) that have taken out $20,000 loans just to have some money.