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Sept. '99 NY Times article - Warns of bad loans!!

Discussion in 'Politics, Elections & Legislation' started by Bob Schultz, Feb 27, 2009.

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  1. Bob Schultz

    Bob Schultz Well-Known Member Supporting Vendor

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    Sept.

    http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&scp=1&sq=Fannie%20Mae%20-%20Holmes&st=cse


    Above is a link to a NY Times article in 1999 which clearly warns us of the bad lending policies instituted by Klinton and the Dems which put us in so much trouble today!

    Bush may have not been the best watchdog but he did not start this mess!

    Bob Schultz
     
  2. tallpaul

    tallpaul Member

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    Maybe if I cry and complain that I was duped by "Predatory Lending," fail to pay my mortgage for a couple of months, maybe I too can get on the Bail-out Gravy Train. After all, how was I supposed to figure out by myself what I could reasonable afford to pay on a monthly basis? Once again, a society slowly drifting away from personal accountability, and what does Nobama do? Reward bad behavior. Funny how Bill Clinton just recently washed his hands of the current economic downturn. And how the current administration keeps referring to "The prior administration" for this mess. "Taxation without representation is tyranny!" I ask each of you, what do you get for the taxes you pay? I get my roads plowed in the winter time, and that's about it. Now the government is talking about taxing us for the number of miles we drive. Unbelievable...
     
  3. zinger

    zinger Member

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    now Bob, I heard just this morning from "the Donald" that it was entirely all Bush's fault! Don't be confusing the left wingers with facts!
     
  4. W.P.T.

    W.P.T. TS Member

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    The people who are crying the loudest are the ones who deserve the least ... They bought homes because they could not afford to rent an apartment with having to pay the first and last months rent and the security deposit ... They were much better off to go and buy a house for 125% of its inflated value and be done with it ... Now that this inflation bubble has burst and everyone has shit all over themself because they are tied to a home thats worth less than 1/2 of what they paid for it, they are blameing the lenders for making them do it ... Then theres the other crowd who had a home bought and paid for, for a number of years and all of a sudden their home is worth its weight in "Gold" and they all of a sudden have bank a account and cash it in by taking out a non qualifying loan without needing to prove their home is worth what they want to borrow against it or their abilty to pay it back ... The people who fell into this so called trap are the ones to blame because they did not deserve and could not afford a home or they would of had one before it all started ... Thats just the way it is and now they are never going to have a home unless we all buy it for them thanks to Obama and his band of Merry men and Ladies, and they still won't deserve it ... I was taught to buy something, pay for it and then buy something else, pay for it and so forth ... Now, I have no bills, and no debt except for what I am going to have to pay for all of the bust outs who don't deserve to have anything ... WPT ... (YAC) ...
     
  5. halfmile

    halfmile Well-Known Member

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    Clinton can wash his hands all he wants, the stain of the mortgage debacle will never go away.

    The repeal of the Glass-Steadman act opened up an era of "no responsibility" to the lenders who immediately began to write and sell all the paper they could create.

    While it's true that actual start was Carter's CRA, nothing happened(typical Carter action) till the leash was off the money men.

    The world is awash in usury, and the wolf of interest is having a mighty feast.

    The year of Jubilee is long overdue.

    HM
     
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