3rdnlng Posted April 11, 2014 Share Posted April 11, 2014 (edited) Compared to what Bush did to the military what Obama did was nothing. Bush did a great job using the military as a prop--Mission accomplished! Of course he got his guidance from Jesus...and Cheney Cheney obviously saw Bush as a weak leader and stepped in to dominate him The one by Karl Rove? Are you seriously that stupid? Can you dispute it? Here, try this article back in 2003 from the NYT that follows along with what Karl Rove said: http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago. Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry. The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios. The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates. ''There is a general recognition that the supervisory system for housing-related government-sponsored enterprises neither has the tools, nor the stature, to deal effectively with the current size, complexity and importance of these enterprises,'' Treasury Secretary John W. Snow told the House Financial Services Committee in an appearance with Housing Secretary Mel Martinez, who also backed the plan. Mr. Snow said that Congress should eliminate the power of the president to appoint directors to the companies, a sign that the administration is less concerned about the perks of patronage than it is about the potential political problems associated with any new difficulties arising at the companies. The administration's proposal, which was endorsed in large part today by Fannie Mae and Freddie Mac, would not repeal the significant government subsidies granted to the two companies. And it does not alter the implicit guarantee that Washington will bail the companies out if they run into financial difficulty; that perception enables them to issue debt at significantly lower rates than their competitors. Nor would it remove the companies' exemptions from taxes and antifraud provisions of federal securities laws. Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing. ''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.'' Representative Melvin L. Watt, Democrat of North Carolina, agreed. Edited April 11, 2014 by 3rdnlng Link to comment Share on other sites More sharing options...
Tiberius Posted April 11, 2014 Author Share Posted April 11, 2014 Can you dispute it? Here, try this article back in 2003 from the NYT that follows along with what Karl Rove said: [url="http://www. people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''[/size][/font][/color] Representative Melvin L. Watt, Democrat of North Carolina, agreed. didn't say anything about mortgage backed securities? And if this was so important why didn't the Great Leader Bush fight harder for it? Link to comment Share on other sites More sharing options...
3rdnlng Posted April 11, 2014 Share Posted April 11, 2014 didn't say anything about mortgage backed securities? And if this was so important why didn't the Great Leader Bush fight harder for it? Look at when the article was written you dumbass. Click on the link and see that Bush was hounding Congress nearly all of his 8 years: http://elenaives.com/attempts-president-bush-reform-fannie-mae-freddie-mac/ May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further. “Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance sub-prime loans.” (President George W. Bush, Radio Address, 5/3/08) “[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator.” (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08) “Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans.” (President George W. Bush, Radio Address, 5/31/08) Link to comment Share on other sites More sharing options...
DC Tom Posted April 11, 2014 Share Posted April 11, 2014 Look at when the article was written you dumbass. Click on the link and see that Bush was hounding Congress nearly all of his 8 years: http://elenaives.com...ae-freddie-mac/ May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further. “Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance sub-prime loans.” (President George W. Bush, Radio Address, 5/3/08) “[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator.” (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08) “Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans.” (President George W. Bush, Radio Address, 5/31/08) Why are you arguing with him? Link to comment Share on other sites More sharing options...
3rdnlng Posted April 11, 2014 Share Posted April 11, 2014 Why are you arguing with him? Probably the same reason you do. Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted April 11, 2014 Share Posted April 11, 2014 didn't say anything about mortgage backed securities? And if this was so important why didn't the Great Leader Bush fight harder for it? What issue do you take with mortgage backed securites? Link to comment Share on other sites More sharing options...
DC Tom Posted April 11, 2014 Share Posted April 11, 2014 Probably the same reason you do. I don't argue with him. I abuse him. Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted April 11, 2014 Share Posted April 11, 2014 Link to comment Share on other sites More sharing options...
Tiberius Posted April 13, 2014 Author Share Posted April 13, 2014 Look at when the article was written you dumbass. Click on the link and see that Bush was hounding Congress nearly all of his 8 years: [url=http://elenaives.com/attempts-president-bush-reform-fannie-mae-freddie-mac/]http://elenaives.com/attempts-president-bush-reform-fannie-mae-freddie-mac/ reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans.” (President George W. Bush, Radio Address, 5/31/08)[/size][/font][/color] prove that his reforms would have stopped the housing crisis Link to comment Share on other sites More sharing options...
Chef Jim Posted April 13, 2014 Share Posted April 13, 2014 prove that his reforms would have stopped the housing crisis Great point because doing nothing worked out real well. Link to comment Share on other sites More sharing options...
3rdnlng Posted April 13, 2014 Share Posted April 13, 2014 (edited) prove that his reforms would have stopped the housing crisis Own it: http://mypetjawa.mu....ives/194210.php "Note that McCain and the GOP and Alan Greenspan and Bush were all warning of this in 2001, 2003, 2005 and 2006. Legislation for reform and oversight of Fannie-Freddie was proposed and was blocked every time - on party line votes - by the Democrats. Ignoring it won't change it, O!bots. DEMOCRATS 08 - PARTY BEFORE COUNTRY." Edited April 13, 2014 by 3rdnlng Link to comment Share on other sites More sharing options...
drinkTHEkoolaid Posted April 13, 2014 Share Posted April 13, 2014 Democrats and Republicans alike are BAD. neither side is perfect. the worst party is the party that wants you to convert to their way of thinking or else. If republicans want to come for the ride they can sit in the back seat. Link to comment Share on other sites More sharing options...
Tiberius Posted April 13, 2014 Author Share Posted April 13, 2014 What issue do you take with mortgage backed securites? In You don't know the role they played in the housing crisis? Wow, you act like you are up on stuff like this. In general, nothing, I actually own stock in a company that deals with them, but their criminal use was a major part of the housing collapse. The crap high risk, variable interest rate mortgages that were bundled up and rated as triple A By the rating agencies were sold out all over the planet and when they collapsed it rolled through the economy.. Own it: http://mypetjawa.mu....ives/194210.php "Note that McCain and the GOP and Alan Greenspan and Bush were all warning of this in 2001, 2003, 2005 and 2006. Legislation for reform and oversight of Fannie-Freddie was proposed and was blocked every time - on party line votes - by the Democrats. Ignoring it won't change it, O!bots. DEMOCRATS 08 - PARTY BEFORE COUNTRY." that doesn't prove anything. How were they going to stop the mortgage backed securiies fraud? That was the problem Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted April 13, 2014 Share Posted April 13, 2014 Explain what mortgage backed securities are, then explain how their "use" was "criminal". Link to comment Share on other sites More sharing options...
Tiberius Posted April 13, 2014 Author Share Posted April 13, 2014 Explain what mortgage backed securities are, then explain how their "use" was "criminal". What, you need someone to quibble with? You just want to play gotcha? If you have a point, make it--I'm guessing you don't Link to comment Share on other sites More sharing options...
3rdnlng Posted April 13, 2014 Share Posted April 13, 2014 In You don't know the role they played in the housing crisis? Wow, you act like you are up on stuff like this. In general, nothing, I actually own stock in a company that deals with them, but their criminal use was a major part of the housing collapse. The crap high risk, variable interest rate mortgages that were bundled up and rated as triple A By the rating agencies were sold out all over the planet and when they collapsed it rolled through the economy.. that doesn't prove anything. How were they going to stop the mortgage backed securiies fraud? That was the problem First of all, I don't need to prove a !@#$ing thing to you. Second of all, it was the CRA and subprime loans that started everything. The dems fought like crazy to prevent regulation that would have prevented the bubble in the first place. Those loans were schit no matter what and would have failed under any circumstances. Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted April 13, 2014 Share Posted April 13, 2014 (edited) What, you need someone to quibble with? You just want to play gotcha? If you have a point, make it--I'm guessing you don't My point is that you have no idea what you're talking about, because you don't have even a cursory understanding of the subject matter. Prove me wrong. What are mortgage backed securities, and how was their "use" "criminal"? Edit: "mortgage backed securities fraud"??? Really? Let's add: "what is fraud?" To the list of questions I'd like for you to answer. Edited April 13, 2014 by TakeYouToTasker Link to comment Share on other sites More sharing options...
Tiberius Posted April 13, 2014 Author Share Posted April 13, 2014 My point is that you have no idea what you're talking about, because you don't have even a cursory understanding of the subject matter. Prove me wrong. What are mortgage backed securities, and how was their "use" "criminal"? Edit: "mortgage backed securities fraud"??? Really? Let's add: "what is fraud?" To the list of questions I'd like for you to answer. what proof do you have I don't know what I am talking about. You are asking the questions, that makes me suspect you have no idea what you are talking about. What role did mortgage backed securities play in the housing crisis, do you even know that? I've already explained it, so that should be too hard for you. Do you agree or disagree with their role in this? What is fraud?? Lol you are simple Link to comment Share on other sites More sharing options...
3rdnlng Posted April 13, 2014 Share Posted April 13, 2014 what proof do you have I don't know what I am talking about. You are asking the questions, that makes me suspect you have no idea what you are talking about. What role did mortgage backed securities play in the housing crisis, do you even know that? I've already explained it, so that should be too hard for you. Do you agree or disagree with their role in this? What is fraud?? Lol you are simple 1717 posts. Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted April 13, 2014 Share Posted April 13, 2014 what proof do you have I don't know what I am talking about. You are asking the questions, that makes me suspect you have no idea what you are talking about. What role did mortgage backed securities play in the housing crisis, do you even know that? I've already explained it, so that should be too hard for you. Do you agree or disagree with their role in this? What is fraud?? Lol you are simple If you truely believe me to be wrong, that's fine. I just ask that you humor me and answer the questions I've asked. I've been working to give you the benefit of the doubt for the last month or so, as, at least in responding to me, you've been far less toxic; and I've appriciated it. Why not continue that streak? Link to comment Share on other sites More sharing options...
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