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Is There Anything Here Not True?

Discussion in 'Uncategorized Threads' started by JBrooks, Sep 25, 2008.

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  1. JBrooks

    JBrooks TS Member

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    THEY GAVE YOUR MORTGAGE TO A LESS QUALIFIED MINORITY
    September 24, 2008


    On MSNBC this week, Newsweek's Jonathan Alter tried to connect John McCain to the current financial disaster, saying: "If you remember the Keating Five scandal that (McCain) was a part of. ... He's really getting a free ride on the fact that he was in the middle of the last great financial scandal in our country."

    McCain was "in the middle of" the Keating Five case in the sense that he was "exonerated." The lawyer for the Senate Ethics Committee wanted McCain removed from the investigation altogether, but, as The New York Times reported: "Sen. McCain was the only Republican embroiled in the affair, and Democrats on the panel would not release him."

    So John McCain has been held hostage by both the Viet Cong and the Democrats.

    Alter couldn't be expected to know that: As usual, he was lifting material directly from Kausfiles. What is unusual was that he was stealing a random thought sent in by Kausfiles' mother, who, the day before, had e-mailed: "It's time to bring up the Keating Five. Let McCain explain that scandal away."

    The Senate Ethics Committee lawyer who investigated McCain already had explained that scandal away -- repeatedly. It was celebrated lawyer Robert Bennett, most famous for defending a certain horny hick president a few years ago.

    In February this year, on Fox News' "Hannity and Colmes," Bennett said, for the eight billionth time:

    "First, I should tell your listeners I'm a registered Democrat, so I'm not on (McCain's) side of a lot of issues. But I investigated John McCain for a year and a half, at least, when I was special counsel to the Senate Ethics Committee in the Keating Five. ... And if there is one thing I am absolutely confident of, it is John McCain is an honest man. I recommended to the Senate Ethics Committee that he be cut out of the case, that there was no evidence against him."

    It's bad enough for Alter to be constantly ripping off Kausfiles. Now he's so devoid of his own ideas, he's ripping off the idle musings of Kausfiles' mother.

    Even if McCain had been implicated in the Keating Five scandal -- and he wasn't -- that would still have absolutely nothing to do with the subprime mortgage crisis currently roiling the financial markets. This crisis was caused by political correctness being forced on the mortgage lending industry in the Clinton era.

    Before the Democrats' affirmative action lending policies became an embarrassment, the Los Angeles Times reported that, starting in 1992, a majority-Democratic Congress "mandated that Fannie and Freddie increase their purchases of mortgages for low-income and medium-income borrowers. Operating under that requirement, Fannie Mae, in particular, has been aggressive and creative in stimulating minority gains."

    Under Clinton, the entire federal government put massive pressure on banks to grant more mortgages to the poor and minorities. Clinton's secretary of Housing and Urban Development, Andrew Cuomo, investigated Fannie Mae for racial discrimination and proposed that 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low- to moderate-income borrowers by the year 2001.

    Instead of looking at "outdated criteria," such as the mortgage applicant's credit history and ability to make a down payment, banks were encouraged to consider nontraditional measures of credit-worthiness, such as having a good jump shot or having a missing child named "Caylee."

    Threatening lawsuits, Clinton's Federal Reserve demanded that banks treat welfare payments and unemployment benefits as valid income sources to qualify for a mortgage. That isn't a joke -- it's a fact.

    When Democrats controlled both the executive and legislative branches, political correctness was given a veto over sound business practices.

    In 1999, liberals were bragging about extending affirmative action to the financial sector. Los Angeles Times reporter Ron Brownstein hailed the Clinton administration's affirmative action lending policies as one of the "hidden success stories" of the Clinton administration, saying that "black and Latino homeownership has surged to the highest level ever recorded."

    Meanwhile, economists were screaming from the rooftops that the Democrats were forcing mortgage lenders to issue loans that would fail the moment the housing market slowed and deadbeat borrowers couldn't get out of their loans by selling their houses.

    A decade later, the housing bubble burst and, as predicted, food-stamp-backed mortgages collapsed. Democrats set an affirmative action time-bomb and now it's gone off.

    In Bush's first year in office, the White House chief economist, N. Gregory Mankiw, warned that the government's "implicit subsidy" of Fannie Mae and Freddie Mac, combined with loans to unqualified borrowers, was creating a huge risk for the entire financial system.

    Rep. Barney Frank denounced Mankiw, saying he had no "concern about housing." How dare you oppose suicidal loans to people who can't repay them! The New York Times reported that Fannie Mae and Freddie Mac were "under heavy assault by the Republicans," but these entities still had "important political allies" in the Democrats.

    Now, at a cost of hundreds of billions of dollars, middle-class taxpayers are going to be forced to bail out the Democrats' two most important constituent groups: rich Wall Street bankers and welfare recipients.

    Political correctness had already ruined education, sports, science and entertainment. But it took a Democratic president with a Democratic congress for political correctness to wreck the financial industry.

    COPYRIGHT 2008 ANN COULTER
    DISTRIBUTED BY UNIVERSAL PRESS SYNDICATE
    4520 Main Street, Kansas City, MO 64111
     
  2. crusha

    crusha TS Member

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    Sigh...now, do the old retired "crackers" really want to hear this?
     
  3. Frank C

    Frank C Well-Known Member

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    The Congressional BLACK caucus the conscience of Fanny and Freddie....mash the link
     
  4. chessney

    chessney TS Member

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    Brooksy: Is that all you do,cut and paste all this bulls##t? It get real old..Come up with something original..Ziggy
     
  5. Brian in Oregon

    Brian in Oregon Well-Known Member

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    LOL, because if Brooks simply said it, Ziggy would want proof. But if Brooks posts proof, Ziggy doesn't want to see it.<br>
    <br>
     
  6. recurvyarcher

    recurvyarcher Well-Known Member

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    To be fair, I know a lot of young white "yuppies" who purchased McMansions that they now can't afford and can't sell...
     
  7. JBrooks

    JBrooks TS Member

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    There once was a fruitcake named Ziggy.

    He liked to have sex with a piggy.

    The sow didn't mind,

    when he snuck up behind.

    After all, it wasn't a biggie.

    Original enough for you butthead?
     
  8. grnberetcj

    grnberetcj Active Member

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    Hey Curvy...

    Your Yuppie friend's have a money crisis....and just who's at fault? The American taxpayer or them?

    People have choices, bad ones should not be funded by people who make good ones.

    Curt
     
  9. halfmile

    halfmile Well-Known Member

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    Curt, I didn't see any defense of the Yuppies, just a statement of fact.

    Hit a nerve?

    HM
     
  10. grnberetcj

    grnberetcj Active Member

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    HM..

    Not hardly...I made a statement of bad choices only and who is responsible....

    You misinterpreted the statement. I live in an area that was rural and in the last 15 yrs has filled up with the yuppies Curvy has spoken about...

    Do I feel sorry for their plight...NO! It's just somewhere along the line people quit taking responsibilty for their actions. And whatever happened to living within your means?

    Curt
     
  11. W.P.T.

    W.P.T. TS Member

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    There are going to be a lot more of those McMansions for sale all across America before its all over ... I see cars, motorhomes, skidoos, boats, guns and a vast array of other things that people are trying to dump on a daily basis just so they can put a meal on the table and nothing is selling ... I have never seen so many houses for sale and the prices keep coming down like last month -11.8 % again ... I live in a retirement community and the streets are cluttered with for sale signs, this has got to make you think or at least wonder what the hell is going on ..? The people who live in retirement areas are usually pretty well settled and set in there ways to some degree ... Sun City, Arizona at one time had a high percentage of homes that were bought and paid for and now its just like every where else with pre foreclosure signs in front of every other house on every block ... What were these people thinking ..? WPT ... (YAC) ...
     
  12. halfmile

    halfmile Well-Known Member

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    Newt said it best the other night. "There was a lot of fluff, and now people are going to have to let it go."

    Harleys, jetskis, ATVs, etc. Credit cards will be a big problem. That meltdown is still waiting to hit. People will walk away from them too.

    There were a lot of people borrowing to consume. The debt was still there when the clothes were wore out. Lately, people using credit cards to buy groceries.

    Autos: Not, "How much does it cost?", but rather"how much is the payment going to be?"

    Recipe for disaster. Lots of chickens coming home to roost here, but they look more like buzzards circling to me.

    HM
     
  13. recurvyarcher

    recurvyarcher Well-Known Member

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    I, too, live in a rural area that started to be infiltrated by these types of people. They financed big houses, pools, campers, trucks, autos, pianos, etc. You can see it all from the road as you drive by, along with the Public Auction signs on the front lawns.

    Glad I wasn't raised like that...
     
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