1. Attention: We have put together a thread with tips and a tutorial video to help with using the new software. Please take a moment to check out the thread here: Trapshooters.com Tutorial & Help Video.
    Dismiss Notice

George Bush Haters....

Discussion in 'Politics, Elections & Legislation' started by bigdogtx, Feb 20, 2009.

Thread Status:
Not open for further replies.
  1. bigdogtx

    bigdogtx Well-Known Member

    Joined:
    Aug 5, 2006
    Messages:
    10,650
    http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=2

    In case the link is too long, cut and paste in your browsers

    Dam George Bush,,,,caused the economic downturn,,,,hmmm, seems like there is ANOTHER name in this article which in a liberal bastion of the MSM,,,,I will cut and paste for you libs that cannot understand how to copy the link or admit to truth about your poster boy and hussein's buddy Franklin Raines,,,,hummmm, veeerrrrrrryyyyyy interesting

    Notice the DATE!!!!



    Fannie Mae Eases Credit To Aid Mortgage Lending
    By STEVEN A. HOLMES

    Published: September 30, 1999


    In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

    The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

    Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

    In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.

    ''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''

    Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.

    In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

    ''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

    Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.

    Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.

    Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.

    Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent.

    In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent.

    Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings.

    In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.

    The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants.


    In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent.

    Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings.

    In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.

    The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants.

    END OF ARTICLE.
     
  2. atashooter

    atashooter Member

    Joined:
    Jan 29, 1998
    Messages:
    625
    Can you imagine 9-11 with Gore at the helm... I thank God for GWB.
     
  3. grnberetcj

    grnberetcj Active Member

    Joined:
    Jan 29, 1998
    Messages:
    5,680
    Something extra here...Timeline.

    Curt
     
  4. bigdogtx

    bigdogtx Well-Known Member

    Joined:
    Aug 5, 2006
    Messages:
    10,650
    If you don't know your history,,,,you are doomed to repeat it!!

    Kinda brings us to "our current problem" again!!!
     
  5. bigdogtx

    bigdogtx Well-Known Member

    Joined:
    Aug 5, 2006
    Messages:
    10,650
    democrats don't want public debate as they proved with the recent porkulus bill,,,,no debate,,,,they didn't even READ it,,,,and now they want to silence any oppostion to their methods!!!!!!!!!!
     
  6. WGB

    WGB Member

    Joined:
    Jan 29, 1998
    Messages:
    191
    >>>>atashooter
    >>>>Can you imagine 9-11 with Gore at the helm... I thank God for GWB.


    Now that is funny, sad but funny. Out of the 19 hijackers 15 were from Saudi Arabia and the rest were Kuwaitis, Yemeni etc. So George attacks Iraq because he is a moron and does not know what to do. The 911 planners are still on the loose.

    Sad but true 50% of Americans still think we attacked Iraq because of 911, some of us are not real smart.

    Just in case you think I am voicing support for Gore or Kerry......notice, in the above post there is nothing about the idiot Gore or the weasel Kerry being my choice for president either. But I would ahve to believe (even being a conservative) that nobody except a partially trained monkey could have done worse than George.
     
  7. Jamesquinn

    Jamesquinn TS Member

    Joined:
    Jan 31, 2009
    Messages:
    91
    "some of us are not real smart."

    You're talking about OICU812, bigdogtx, slideaction and JBrooks, right?
     
  8. H82MIS

    H82MIS TS Member

    Joined:
    Jan 29, 1998
    Messages:
    2,052
    Jamesqueer,,you can't get alomg on any forum can you,,,

    this one is from gunbroker,,,

    boy, you need a life,,,

    An internet loser that just loves to stir up sh@@,,,,

    Go away!!!!!!




    JamesQuinn
    Junior Member



    USA
    130 Posts
    Posted - 02/11/2009 : 5:56:29 PM
    --------------------------------------------------------------------------------

    quote:
    --------------------------------------------------------------------------------
    Originally posted by castalot


    quote:
    --------------------------------------------------------------------------------
    Oh boy! another internet tough guy keyboard kommando!

    Oh, and don't bother sending me your phone number, I don't have the time to waste on sad little pee-pee touchers like yourself.

    Castalot, you are the poster child for an abortion, you believer in fairy tales, suppressor of women's rights, and gay basher.
    --------------------------------------------------------------------------------



    I am not a tough guy. Just a guy that commands respect in person. I have done so my whole adult life. I have no doubt that you would not return a call if I gave you my number. You just lack the balls needed to do something like that. You, are just one of several douche bags on this forum that back down if the thought of private confrontation arises.

    You are the kind of guy that would hide under a desk at the first sound of gun fire, and those who know you the best, would testify to that truth.

    --------------------------------------------------------------------------------



    Wrong, Wrong, Wrong, "Castalot". My name is James Quinn. I live in Pacolet, SC. You're more than welcome to meet me anywhere, anytime.

    And your name and hometown is?

    Ahh...blank and blank. Just like all neocon puzzies.

    At least you're good for a laugh.
     
  9. JBrooks

    JBrooks TS Member

    Joined:
    Nov 6, 2006
    Messages:
    3,707
    So went looking for Quinn in his Portalet but he wasn't home.
     
  10. djpk69

    djpk69 TS Member

    Joined:
    Jan 29, 1998
    Messages:
    725
    Bill Clinton / GWB's et.al / of them RODE INTO THE WEST and are now RETIRED. Today is TODAY. I think WGB has it right.
     
  11. Paladin

    Paladin Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    4,403
    "The very change that swept Democrats into D.C. will surely sweep them away again if they squeeze ordinary citizens too much to pay for the failings of others."


    "And if you live your life right, pay your bills and take care of your mortgage, all you might get is the mini-tax break of $400 per person. That’s about enough money for each of you to go to lunch once a week -– but only for a fast food lunch. At $7.69 a week, Obama’s “Making Work Pay” tax credit doesn’t make work pay very well."




    "The Roman Caesars appeased their people with bread and circuses. In 2009, Obama has offered us bread, too. But this time it’s just a few items from the Dollar Menu at McDonald’s. And, for circuses, the passage of his 1,071-page American Recovery and Reinvestment Act certainly ought to qualify. More than 300 Senators and Representatives –- nearly all of them Democrats –- voted for the largest spending bill in history without ever reading the darn thing!"


    "We’re still mad as hell. And now Democrats can’t blame anyone else for a change."
     
  12. grunt

    grunt TS Supporters TS Supporters

    Joined:
    Jan 29, 1998
    Messages:
    5,924
    Location:
    Thousand Oaks Ca
    I thought it was an arm rest.
     
  13. JBrooks

    JBrooks TS Member

    Joined:
    Nov 6, 2006
    Messages:
    3,707
    I thought it was a urinal but that they hadn't made it deep enough.
     
Thread Status:
Not open for further replies.