The video every American must see.

[MetalHead]

Show this to everyone you know.
You cannot defend the undefendable.
you cannot elect the unelectable.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

[MetalHead]

Leave it to me and I'll bump this sucker into Kingdom come.

[Hostile]

That was interesting.

[zrinkill]

Wow ....

[MetalHead]

Wow ....

Pass it on.
That video is Kryptonite to the Obama camp.

[ninja]

Your typical Obama voter a) can't understand the video and b) doesn't care.

Truth means nothing to the Obama/Democrat supporter. Only what's in it for them financially.

[CowboyPrincess]

I'm with Zrinkill... WOW


I really can't say any more than that

[jrumann59]

Remember if you say anyhting bad about Obama you are a Racist

[MetalHead]

Remember if you say anyhting bad about Obama you are a Racist

I'm a nice tanned dominican who came to this country,served honorably in the US Army and now I'm a homeowner(not sub prime),husband and father.
I love this country and hate those who disguise themselves as agents of "change".
I think I can handle it.

[bbgun]

Been on the Net for a few days now. I thought it was already posted. This is why I roll my eyes when the Dems scream that the crisis was borne out of lack of regulation or government oversight. The Republicans on that committee were BEGGING for stricter regulation and oversight of Fannie Mae/Mac. That poor, prescient regulator who was reviled and defamed is likewise owed an apology.

[MetalHead]

Been on the Net for a few days now. I thought it was already posted. This is why I roll my eyes when the Dems scream that the crisis was borne out lack of regulation or government oversight. The Republicans on that committee were BEGGING for stricter regulation and oversight of Fannie Mae/Mac. That poor, prescient regulator who was reviled and defamed is likewise owed an apology.

Apology?
How about a promotion?
His name is Armando Falcon
Ask any liberal who he is and they may tell you he is a Latin American dictator.

[Danny White]

Great post and video.

Unfortunately 8 minutes is more than most people can pay attention to anything.

Do you know when these hearings were?

[MetalHead]

Great post and video.

Unfortunately 8 minutes is more than most people can pay attention to anything.

Do you know when these hearings were?

2004.
And yes,there are shorter versions of it.

[bbgun]

Somebody needs to explain to me how and why non-ideological lenders like Fannie Mae/Mac became wholly owned subsidiaries of the Democratic Party, not unlike the teachers' unions. Because they specialize in loans to poor people?

[MetalHead]

Somebody needs to explain to me how and why non-ideological lenders like Fannie Mae/Mac became wholly owned subsidiaries of the Democratic Party, not unlike the teachers' unions. Because they specialize in loans to poor people?

Ask Obama.
In 1994 he was a lawyer.
Take it from there.
ACORN
Ayers
Alinsky
(he likes A's!)
But he's a C(as in communist)

[Danny White]

Somebody needs to explain to me how and why non-ideological lenders like Fannie Mae/Mac became wholly owned subsidiaries of the Democratic Party, not unlike the teachers' unions. Because they specialize in loans to poor people?

I think that's pretty much it.

[MetalHead]

I think that's pretty much it.

Wrong.
They gave loans to everybody.No appraisal,no income verification..nothing!
Normally,a 50% debt to income ratio would not get you anywhere near a home loan.Not even close.
Under the CRA and the sub prime lenders,people who had up to 68% debt to income ratio got home loans.
Loans they could not afford.
But the crooks got creative with 80-20 loans and crazy ARMs and Fannie and Freddie guaranteed them.
People defaulted,banks assumed the loans and here we are.

[Sasquatch]

Wrong.
They gave loans to everybody.No appraisal,no income verification..nothing!
Normally,a 50% debt to income ratio would not get you anywhere near a home loan.Not even close.
Under the CRA and the sub prime lenders,people who had up to 68% debt to income ratio got home loans.
Loans they could not afford.
But the crooks got creative with 80-20 loans and crazy ARMs and Fannie and Freddie guaranteed them.
People defaulted,banks assumed the loans and here we are.

So is James Galbraith, a professor of economics at UT Austin, being factually inaccurate when he states:

There’s a Republican talking point going around that lays the blame on Fannie Mae and Freddie Mac, and hence the Democrats. There were big problems in the way Fannie and Freddie were run, but they were very small players in the subprime market. And Fannie and Freddy had standards. They checked on borrowers’ credit and they weren’t giving out subprime, low-doc, or no-doc inflated appraisal loans. The overwhelming responsibility for the crisis is the failure to regulate financial markets, and that is a failure of the Bush Administration. They sent very clear signals that they were in favor of deregulating the industry. All of three weeks ago, Mitt Romney said at the Republican convention that we should take a weed whacker to regulation. Two weeks ago, Governor Palin told Charles Gibson of ABC that her philosophy of economic policy was to “get government out of our hair.” A few months ago, ancient history by now, McCain said, “I’m a deregulator.” That’s been a consistent Republican theme.

What exactly is the Obama connection anyway?

[ScipioCowboy]

Jeffrey Miron is the senior lecturer for the Harvard University Department of Economics.

BECK: Jeff, why can`t we use the airplane model?

JEFFREY MIRON, HARVARD UNIVERSITY: I don`t see why we can`t. I think we should. I think it`s a much better model than the government bailout.

BECK: So is there -- I didn`t expect that answer, like, yes, we should. I mean, what is different between a bailout and chapter 11 that we`re missing here? Or that our Congress is missing?

MIRON: There are a couple of crucial differences. First of all, if it`s chapter 11, then the people who pay are the shareholders and the bond holders of these investment banks. If it`s a bailout, then it`s the taxpayers that pay. So that`s one crucial difference.

The second crucial difference is the government comes in and does the bailout, it is going to be able to claim that this was all due to private greed and the government came in and fixed it and we always need government to fix everything.

If we let it happen via bankruptcy, there`s at least a chance people will recognize that, one, markets can right themselves, but two, even more importantly, the government created this mess in the first place.

BECK: Oh, thank you for saying that.

MIRON: The government created it with Fannie and Freddie Mac and by pushing them to make enormous amounts of sub-prime loans which should never have been made in the first place.

BECK: I have to tell you, I think the media on this story is almost criminally negligent on the message that they`re sending. They`re not talking about the community reinvestment act or the fact that our government pressured people for political purposes to make these kinds of loans. And then when they give up and they`re like, whatever, then also on top of it, banks got greedy and the people down at the bottom got greedy.

MIRON: Absolutely. So there`s plenty of blame to go around.

Certainly the borrowers who took out loans they should have reasonably known were just too good to be true, should bear some responsibility. The congressmen from Bill Clinton to Barney Frank, to people on both sides of the aisle who put huge pressure to make more affordable loans, they have to bear a huge part of the responsibility. The American people, for wanting to indulge in the fantasy that everybody should be able to own their own homes, they have to bear at least a little bit of responsibility.

But first and foremost, if we have these stupid policies in place, then we`re going to get disasters like the current one.

BECK: You know, Al Gore tells us we should listen to tweed jackets and we should listen to all these experts because the science is settled.

Yet nobody is listening to people like you, nobody is listening to the 165 economic geniuses that are saying, this is really bad stuff.

Correct me if I`m wrong, Jeff, but I am not an economic expert, but I am a thinker. I do try to read history. We`re going down the same road, and we`re making the same mistakes that we made in the 1930s that prolonged the Depression. We have government getting their hands in it, and they`re like, oh, I don`t know, let`s try this one, what happens when we turn this knob?

Are we not?

MIRON: I agree. Government played a huge role in the downturn from `29 to `33. It played a huge role in a new recession that occurred in `37- `38. It engaged in all manner of attempted engineering which was not especially successful through the 1930s.

Not to mention other bailouts that have occurred for exactly the same reasons the government put the wrong incentives in front of the financial sector. The financial sector responded in a way that was sensible given those incentives.

GLENN: Real quick, yes or no; if this bailout passes in its current form, is it going to work?

MIRON: I don`t think we know that for sure. We don`t know that they`re going to end up buying the illiquid but valuable assets and providing more liquidity or they`re just going to make it easy for banks to keep doing the same bad things.

GLENN: Ok, Jeff, thanks a lot.

MIRON: Thank you.

http://transcripts.cnn.com/TRANSCRIPTS/0810/01/gb.01.html

[Sasquatch]

Jeffrey Miron is the senior lecturer for the Harvard University Department of Economics.

So you're going with the Harvard guy over the UTA guy? Will wonders never cease.

[ScipioCowboy]

So you're going with the Harvard guy over the UTA guy? Will wonders never cease.

UT fashions itself "the Harvard of the Southwest," so we might as well just go to the original source.:D

In reality, both sides probably contain some element of truth.

[bbgun]

What they said about Fan and Fred

http://online.wsj.com/article/SB122290574391296381.html?mod=article-outset-box

[ABQCOWBOY]

In all honesty, I don't really care what Professors from Harverd or UT or really anywhere else have to say on this matter. I'm not paying them to tell me the truth or to make decisions that are best for me and my family. I care about the elected officials in that piece that are clearly lying. They protected those who are to blame and as such, are to blame themselves IMO.

That is the central issue IMO.

[Hoofbite]

So. Whos gonna mention the big elephant in the room?

[bbgun]

http://www.nypost.com/postopinion/ramirez/2008/10/10012008.jpg

[MetalHead]

http://www.nypost.com/postopinion/ramirez/2008/10/10012008.jpg

Pretty much.

[Bob Sacamano]

I'm a nice tanned dominican who came to this country,served honorably in the US Army and now I'm a homeowner(not sub prime),husband and father.
I love this country and hate those who disguise themselves as agents of "change".
I think I can handle it.

I'm not saying you're a racist or anything, but don't Hispanics have a problem w/ African Americans?

[MetalHead]

I'm not saying you're a racist or anything, but don't Hispanics have a problem w/ African Americans?

HispaniKKKs?

[Big Dakota]

I'm not saying you're a racist or anything, but don't Hispanics have a problem w/ African Americans?


And beans and disease to you, too.

[Maikeru-sama]

Wrong.
They gave loans to everybody.No appraisal,no income verification..nothing!
Normally,a 50% debt to income ratio would not get you anywhere near a home loan.Not even close.
Under the CRA and the sub prime lenders,people who had up to 68% debt to income ratio got home loans.
Loans they could not afford.
But the crooks got creative with 80-20 loans and crazy ARMs and Fannie and Freddie guaranteed them.
People defaulted,banks assumed the loans and here we are.

:hammer:

Absolutely.

I worked for CTX Mortgage for 5 years, which is the A+ Credit lending arm of Centex Corporation. You couldn't get a loan through CTX Mortgage if you had bad credit and unverifiable income because for one we didn't service our loans, so they were heavily audited and two, Centex Corporation had a Sub Prime Lender called Centex Home Equity that was sold to Nationstar that they would send you too if you didn't qualify with us.

Anyway, I know for a fact one of the MAJOR problems was people lying about their primary place of residence because they were trying flip houses and when the economy tanked and they couldn't sell, they were stuck with several homes.

The CEO of our company said in several of our meetings that they were simply just handing over the keys and walking away.

So this myth that the poor (and of course we all know that the word poor can sometimes be a code word for minorities) are mainly resposnsible for this is mess is quite frankley that, a myth.

[dbair1967]

McCain and all the repubs running for election should use this as the center of their election strategy from now till election day. ALL of them should be hammering the dems on this.

Obama continues to hope it will just go away (like all his other junk) but this is one where if enough people speak out about it, he cant hide from it no matter how bad the mainstream media tries to help him.

And they should hammer Obama for being the person in DC getting the 2nd most money from FM and FM, even though he hasnt been there anywhere near as alot of others.

McCain needs to take the gloves off.

[burmafrd]

I wonder why outside of sasqie all the other libs have avoided this thread?

[MetalHead]

I wonder why outside of sasqie all the other libs have avoided this thread?

Many have viewed.
Not many dare to come and refute it.

[trickblue]

Many have viewed.
Not many dare to come and refute it.

I started this exact thread a few days ago...

All of them should go to jail, but it won't happen...

[neosapien23]

McCain and all the repubs running for election should use this as the center of their election strategy from now till election day. ALL of them should be hammering the dems on this.

Obama continues to hope it will just go away (like all his other junk) but this is one where if enough people speak out about it, he cant hide from it no matter how bad the mainstream media tries to help him.

And they should hammer Obama for being the person in DC getting the 2nd most money from FM and FM, even though he hasnt been there anywhere near as alot of others.

McCain needs to take the gloves off.

He won't and that will probably cost him the election. I never understood why McCain will not fight fire with fire. The Obama camp sure had no problem in going after Palin's daughter.

[MetalHead]

I started this exact thread a few days ago...

All of them should go to jail, but it won't happen...

Then we have to go back to 1789 France.

[bbgun]

McCain and all the repubs running for election should use this as the center of their election strategy from now till election day. ALL of them should be hammering the dems on this..

I turned on the TV tonight to see Palin do exactly that ( I mean, they have seen these devastating videos, right?), but she aped the Dems' talking points by blaming the credit fiasco on "greedy Wall Street lenders." Welcome to Phony Populism 101. It was as dishonest an answer as it was cowardly. I tuned her out the rest of the way (esp after her global warming response) and fell into a deep depression.

[MetalHead]

I turned on the TV tonight to see Palin do exactly that ( I mean, they have seen these devastating videos, right?), but she aped the Dems' talking points by blaming the credit fiasco on "greedy Wall Street lenders." Welcome to Phony Populism 101. It was as dishonest an answer as it was cowardly. I tuned her out the rest of the way (esp after her global warming response) and fell into a deep depression.

That is what I meant about having 2 chances to bury him and she did not.
Foolish McCain campaign.

[dbair1967]

McCain needs to take the gloves off.[/quote]

He won't and that will probably cost him the election. I never understood why McCain will not fight fire with fire. The Obama camp sure had no problem in going after Palin's daughter.

I dont understand it either.

He says he loves our country ns I believe him, but he needs to say what needs to be said to save us from the communist.

[dbair1967]

I started this exact thread a few days ago...

All of them should go to jail, but it won't happen...

at the very least none of the democrats who spoke in this video should ever see re-election. That probably wont happen either.

[Maikeru-sama]

I'm not saying you're a racist or anything, but don't Hispanics have a problem w/ African Americans?

What an odd question.

[Hoofbite]

at the very least none of the democrats who spoke in this video should ever see re-election. That probably wont happen either.

To be fair, there are probably some Republicans who weren't pictured who could just as easily be "blamed" for their roles as well.

Blame needs to be shared across the board as both sides are responsible. I couldn't give you names or numbers and I don't intend to look that up but you can bet that both sides are responsible.

But, presenting both sides isn't the purpose of that video. Like a lot of videos on youtube, presenting only a single side is the name of the game. In fact, I'd say that 95% of all political videos are skewed to one side or the other. The 5% that aren't are the actual user created footage of people giving their commentary. You will never see a balanced presentation if it involves clips from TV because TV is pretty unbalanced itself. Take slanted footage and give to a guy with an agenda and some editing software you have all the ingredients for propaganda, which is exactly what that stuff is.

[bbgun]

Well, at least Jonah agrees with me.

Predator Lenders? [Jonah Goldberg]


No Fannie Mae? No Freddie Mac? No CRA? Just corrupt Wall Street "predators"?

C'Mon Sarah!

[Maikeru-sama]

[QUOTE=Hoofbite;2304821]To be fair, there are probably some Republicans who weren't pictured who could just as easily be "blamed" for their roles as well.

Blame needs to be shared across the board as both sides are responsible. I couldn't give you names or numbers and I don't intend to look that up but you can bet that both sides are responsible.
QUOTE]

:hammer:

I thought we were passed blaming one party or the other?

Folks are fooling themselves if they think only the Democrats got paid and were the only ones on the take.

[dbair1967]

[QUOTE=Hoofbite;2304821]To be fair, there are probably some Republicans who weren't pictured who could just as easily be "blamed" for their roles as well.

Blame needs to be shared across the board as both sides are responsible. I couldn't give you names or numbers and I don't intend to look that up but you can bet that both sides are responsible.
QUOTE]

:hammer:

I thought we were passed blaming one party or the other?

Folks are fooling themselves if they think only the Democrats got paid and were the only ones on the take.

they werent the only one's, but their guys are all at the top of the list

[MetalHead]

Not enough liberals have seen it.

[burmafrd]

Bush is a social conservative but has never been a fiscal conservative (the opposite of his father) I would love to have a fiscal conservative in next so I can stomach McCain. Obama is a socialist=and will spend us into the grave if voted in with a democratic congress.

[REDVOLUTION]

Disturbing is the word I would use for that video.

I must say though I cant say if they were covering up or if they were just going with "everything is alright" based on ignorant stupidity.

That one guy just seemed to like to hear himself speak.

[bbgun]

More succinct, but just as damning.

http://www.youtube.com/watch?v=exxVZTKq1vA