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ACORN Obama and the Mortgage Meltdown

nonniey

By nonniey
in The Tailgate

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Jumbo

Jumbo

Posted
Posted

What's your game

Alright you've got it

Take your aim

Alright you shot it

It's been so long your welcome back my friends

To the show that never ends

Do you know the score

Alright I hear you

I would make a play for sure

If I could only get near you

It's been so long your welcome back my friends

To the show that never ends

What's your name

I can't forget it

I've been there and back again

And I will never regret it

It's been so long your welcome back my friends

To the show that never ends

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Jumbo

Jumbo

Posted
Posted
Let me save the lefties some time and respond to this for them:

"This is obviously a right wing hit piece with no facts. All lies. Obama walks on water, heals the deaf with his voice and the lame with his touch."

Yeh, but then where would the righties be without being able to present their own impressive suspension of critical thinking skills. :silly:

The Klown Wars are taking place on a glass battlefield and the rock cannons are fully charged. BiasShields up and may the Farce be with us. :)

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Destino

Destino

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Posted
Let me save the lefties some time and respond to this for them:

"This is obviously a right wing hit piece with no facts. All lies. Obama walks on water, heals the deaf with his voice and the lame with his touch."

Let me save you some time, I work in the mortgage industry and trying to paint ACORN as a horrible group responsible for this crisis is a waste of time. Notice the article implies that they are behind lending to unqualified borrowers but they don't provide any numbers?

Frankly I find it disgusting that this crisis, that without question started with the lending organizations themselves, has been used by clueless right wingers to slam programs seeking to spread home ownership in bad areas. How much time have you spent researching the types of loans that failed? How much time have you spent at conferences thrown by organization like PMI or NAHREP that sought to examine the data and find out what is going wrong? I've spent a lot of time looking at the foreclosure rates, types of loans failing, and why people are losing their homes. Just because you come from a bad neighborhood and don't make a ton of money doesn't mean that you won't pay your mortgage. Just because banks don't see a need to do business there doesn't mean there aren't worthy applicants. What it means is the loan amounts are too small and the proportion of worthy clients is too small for banks to want to open branches there.

One would think right wingers would support home ownership as a solution. When people own the bricks they are more likely to care about their neighborhoods and not want to see them crime ridden and trashed. Don't right wingers believe in an "ownership society"?

ACORN forces mortgage applicants to go through classes before they are qualified for a safe loan. That's leaps and bounds ahead of the standard lending practices that caused this crisis we are in. You want to see foreclosure rates? Take a look at subprime lending operations. Look closer and see how many of these operations conned poorer americans, and minorities into taking a subprime loan when they could have qualified for a prime product by lying to them. It's a damn shame that a loan officer has to disclose affiliated businesses to a client BUT NOT IF THEY ARE QUALIFIED FOR A PRIME PRODUCT WHILE TRYING TO SELL THEM A HIGH RISK SUBPRIME LOAN.

But yeah... let's blame ACORN. Damn groups trying to help hard working americans that meet the same standards as FHA loans get into mortgage they afford. Something needs to be done about these people.

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DRSmith

DRSmith

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Posted

It appears there were attempts earlier to get a billed passed and give money to Acorn

Open letter to the U.S. Senate and House of Representatives

As groups representing millions of taxpayers nationwide, we are writing to

respectfully urge you to vote “no” on the Dodd-Frank mortgage housing bill,

which may be considered by the full Senate later this month.

This legislation contains over $500 million a year in new permanent, mandatory

spending, and creates a new $300 billion taxpayer loan guarantee liability that

nearly doubles the size of the Federal Housing Administration (FHA).

First, the Dodd plan creates a new housing trust fund that will collect more than

$530 million a year through a new levy on Fannie Mae and Freddie Mac. The

trust fund in turn makes these funds available to politically active community

groups like ACORN outside of normal appropriations oversight.

http://www.freedomworks.org/uploads/dodd-frank-coalition.pdf

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IHOPSkins

IHOPSkins

Posted
Posted
.....I work in the mortgage industry and trying to paint ACORN as a horrible group responsible for this crisis is a waste of time.....
Yup

They are just a HORRIBLE group convicted of VOTER FRAUD

ACORN Workers Indicted For Alleged Voter Fraud

http://www.kmbc.com/politics/10214492/detail.html

Investigators said questionable registration forms for new voters were collected by the Association of Community Organizations for Reform Now, a group that works to improve minority and low-income communities.

The four indicted -- Kwaim A. Stenson, Dale D. Franklin, Stephanie L. Davis and Brian Gardner -- were employed by ACORN as registration recruiters. They were each charged with two counts

And

The Acorn Indictments

http://opinionjournal.com/editorial/feature.html?id=110009189

allegations of fraud have tainted Acorn voter drives across the country. Acorn workers have been convicted in Wisconsin and Colorado, and investigations are still under way in Ohio, Tennessee and Pennsylvania.

Bets on what side of the spectrum they are on

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IHOPSkins

IHOPSkins

Posted
Posted
.....Frankly I find it disgusting that this crisis, that without question started with the lending organizations themselves, has been used by clueless right wingers to slam programs seeking to spread home ownership in bad areas......
I find it "disgusting" that Democrats are screaming for regulation NOW....when they were fighting oversight and regulation of Freddie and Fannie for YEARS

IE Barney Frank and his ilk

Stop obfuscating

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Larry

Larry

Posted
Posted
Trying to find some way to make Obama the villian in this mess is really bringing out the desperation in people. It's sad - but very predictable.

Actually I've been enjoying watching all the different theories that keep getting pushed

First, it was all obviously caused by the Democrats getting control of Congress. Obviously this collapse was caused within the last year.

Then, it was Clinton's fault. Couldn't possibly have happened in between Clinton and '07. If it wasn't caused in '07, then it must have been caused in '99 or earlier.

Then I started seeing everybody announcing that it was all caused in '77. This was obviously The Reason. (The fact that the vast majority of the collapsing loans were written by companies that are exempt from the '77 law is clearly irrelevant.)

(I guess if you can't Blame Clinton then you'll just have to Blame Carter.)

I'm certain that any day now it will be revealed that it was LBJ.

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GibbsFactor

GibbsFactor

Posted
Posted
Actually I've been enjoying watching all the different theories that keep getting pushed

First, it was all obviously caused by the Democrats getting control of Congress. Obviously this collapse was caused within the last year.

Then, it was Clinton's fault. Couldn't possibly have happened in between Clinton and '07. If it wasn't caused in '07, then it must have been caused in '99 or earlier.

Then I started seeing everybody announcing that it was all caused in '77. This was obviously The Reason. (The fact that the vast majority of the collapsing loans were written by companies that are exempt from the '77 law is clearly irrelevant.)

(I guess if you can't Blame Clinton then you'll just have to Blame Carter.)

I'm certain that any day now it will be revealed that it was LBJ.

The Great Society killed us. Don't get me started on the New Deal.

:mad:

:silly:

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IHOPSkins

IHOPSkins

Posted
Posted
....First, it was all obviously caused by the Democrats getting control of Congress......
Its good you are finally getting in touch with the facts.....

Democrats in 2004: Nothing wrong with Fannie/Freddie, regulation of them is “racist”

Maxine Waters: Through nearly a dozen hearings, we were frankly trying to fix something that wasn’t broke. Mr. Chairman, we do not have a crisis at Freddie Mac, and particularly at Fannie Mae, under the outstanding leadership of Franklin Raines. [Raines would barely avoid prosecution for fraud.]

Gregory Meeks: … I’m just pissed off at OFHEO [the regulators trying to warn Congress of insolvency at the GSEs], because if it wasn’t for you, I don’t think we’d be here in the first place. … There’s been nothing that indicated that’s wrong with Fannie Mae, Freddie Mac has come up on its own … The question that then comes up is the competence that your agency has with reference to deciding and regulating these GSEs.

Lacy Clay: This hearing is about the political lynching of Franklin Raines.

Barney Frank: I don’t see anything in this report that raises safety and soundness problems.

http://crushliberalism.com/2008/09/29/democrats-in-2004-nothing-wrong-with-fanniefreddie-regulation-of-them-is-racist/

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IHOPSkins

IHOPSkins

Posted
Posted
:yikes:The Democrats took control of Congress in 2004? Wow. the things you learn on ES.

And from crushliberalism.com, too.

Larry

answer the point

Democrats stopped oversight, and NOW

They are demanding it AND blamming the republicans

Do you often change the subject?..answer the charge

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IHOPSkins

IHOPSkins

Posted
Posted

Democratic Coverup for Fannie and Freddie Led to 2008 Meltdown

Senator Christopher Dodd (D-CT), the largest recipient of campaign contributions from Fannie and Freddie in the past decade, also turned a blind eye to the risks posed by the GSE’s.

In an article earlier this month, the Washington Post (no friend to the Bush administration), offered this: “Sen. Christopher Dodd, the Democratic chairman of the Senate Banking Committee, has the gall to ask in a Bloomberg Television interview: I have a lot of questions about where was the administration over the last eight years’” before explaining that “Dodd -- who along with Democratic Sens. John Kerry, Barack Obama and Hillary Clinton were the top four recipients of Fannie and Freddie campaign contributions from 1988 to 2008 -- actively opposed such measures and further weakened existing regulation.”

http://www.humanevents.com/article.php?id=28806

Where Was Sen. Dodd?

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/11/AR2008091102841.html

Follow the Money

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Fred Jones

Fred Jones

Posted
Posted

If you only blame the Democrats you are wrong.

If you only blame the current administration you are wrong.

If you only blame any previous administration you are wrong.

If you only the mortgage and banking industry you are wrong.

If you simply blame the Republicans you are wrong.

If you simply blame Congress you are wrong.

If you simply blame all the people that overextended then you are wrong.

If you only blame ACORN you are wrong.

If you only blame the rest of the organizations and people that I got tired of typing you are wrong.

If you blame everyone in the process, you are right.

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