Clinton fuxored America by allowing liberals to ';buy'; homes they couldn't afford?

The debt they couldn't repay ultimately led to the downturn in the housing market, which has impacted all facets of the economy.





Now o-wise-one Obama thinks that America going into debt is a wonderful idea and has signed a bill that is guaranteed not only to fuxor the present generations, but also our children and their children.





Why did Americans elect such an incompetent leader?Clinton fuxored America by allowing liberals to ';buy'; homes they couldn't afford?
The American people stopped thinking during this election, and became controlled totally by their emotions. Barrack Obama excited them, inspired them, and offered 95% of them money. And gullible people were taken in. If you prefer style over substance. If you prefer community organizers and voter fraud operatives that are bringing forth a new nation, conceived in Socialism, and dedicated to the proposition that we are created to be subservient to the government.


Barack Hussein Obama Jr is proving himself to be nothing but an empty suit. Sure, he's eloquent.





Obama says one thing and does another. I keep waiting for an announcement that says: We interrupt this financial crisis to bring you a gargantuan federal power grab masquerading as an economic stimulus. The Obama hysteria is embarrassing to witness - Con artists know that being themselves hurts their political agenda. Effective con artists must disguise their true motives. They quickly get to know a lot of people in the group so they can count on this common bond to spread the word about their questionable motives. Even though con artists would like you to believe that they are ';just plain folk,'; they are smart enough to realize that this alone will not sway you to part with your money. They work very hard to come across as smooth, professional and successful. Con Artists Often Push Poorly Understood or Little-Known Ideas. Your best bet is to look behind the surface and do some serious investigating before you part with common sense.


o_OClinton fuxored America by allowing liberals to ';buy'; homes they couldn't afford?
There are things that I think you're overlooking...


1. When the Community Reinvestment Act was initiated, there were some protections in place as well against predatory lending practices. The Community Reinvestment Act has been around for about thirty years, so why the problem now? Deregulation.





2. While a poor person might not be accustomed to the complexities of home buying and mortgage loans, the banks were. The banks used predatory lending practices to make loans that they KNEW were high risk. So they made the loans, bundled them and resold them to strip off their fees and pass on the risks. Now on PBS (2/6) ran an interesting piece on this very subject, of particular interest is 'reverse red-lining'.


http://www.pbs.org/now/shows/506/transcr鈥?/a>





3. Clinton and a veto-proof Republican Congress killed Glass-Steagall in 1999. That's what allowed those fraudulently rated 'exotics' to be passed throughout, and to contaminate, the banking AND speculative investment market pool. And the rating firms played along in the game.


http://www.pbs.org/now/shows/446/index.h鈥?/a>


http://www.counterpunch.org/kaufman09192鈥?/a>





It's convenient to shift the blame for the economic crisis from the banks to poor people, but on closer examination that theory really doesn't hold water.
I agree that Clinton made a huge mistake with the Reinvestment Act but GW had the power to correct the Act while in office. Why did GW let it stand even after he made predictions about the effect it would have on our economy? I wil;l answer that by saying it was done out of political expediency. He did not want to piss off the voters who needed the relaxed regulations in order to buy a home. If we want to fix our country we must be honest in our evaluation of our elected officials actions. Stop backing a party like we are cheering for a football team and hold each politician responsible for his/ her actions.





Obama does appear to be incompetent but if we keep letting him know what we expect by faxes, emails, phone calls, and other methods maybe he will wake up and truly represent WE the People.
Obviously, you have no conception of what has been going on for the past eight years! Predator lenders took advantage of people's trust in promising them loans they could afford. Bankers and other lending agencies are corrupt, beyond most people's understanding. They have had a big influence in the destruction of middle-clase America! Tonight, we are learning about some new fees that banks have dreamed up and it is just another slap in the face of their customers!
Yep.


Only ';liberals'; bought homes they couldn't afford.
Because they FELT like it was a good thing to do. If they had thought about it they wouldn't have done it. Name one thing he did before he was President? I rest my case.
Sorry your fixation with bashing liberals has as much clout as a air biscuit. Wait the air biscuit is in your cranium.
Carter was the buffoon that really started the ball rolling.His reign was also short.Just like Obama's will be.