Finger pointing at its best ;)

[Nirvana]

http://www.youtube.com/watch?v=H5tZc8oH--o

If this is the fault of the democrats from a law passed 13 years ago, why didn't the current administration do anything about this for 8 years?

[classicman]

The Clinton Administration started it, the Bush Administration compounded the problem. Its pointless to blame one or the other - politicians are the problem.

I find it hard to believe that the evil conservative elitist republicans were out there touting the "everyone should own a home" - sounds much more like a leftist democratic mantra to me. Bushithead just made it worse.

[TheMercenary]

Heh.

[classicman]

"This video is no longer available due to a copyright claim by Warner Music Group "

Now THAT sounds like a conspiracy theory..... I wonder who knows who at WMG - certainly not GWB.

[SamIam]

Originally Posted by classicman

The Clinton Administration started it, the Bush Administration compounded the problem. Its pointless to blame one or the other - politicians are the problem.

I find it hard to believe that the evil conservative elitist republicans were out there touting the "everyone should own a home" - sounds much more like a leftist democratic mantra to me. Bushithead just made it worse.

I agree that both parties are equally to blame. But what the "evil" Republicans were most likely shouting was, "Here's a way to make a quick buck for me. Too bad if it doesn't work out for you."

[TheMercenary]

Originally Posted by SamIam

I agree that both parties are equally to blame. But what the "evil" Republicans were most likely shouting was, "Here's a way to make a quick buck for me. Too bad if it doesn't work out for you."

If every single democrat voted for it, it would have passed by simple majority. There is enough of a shit sandwhich for all parties involved to have a bite. Pelosi didn't help things with her speech and she should have saved it till after the final vote. So they have the majority, they own the most of it IMHO. 94 Democrats said no.

But if you look deep into the history of what got us here there is not a single party that is responsible for the mess. If you look at how the vote came out you can see that there were almost as many that voted for it as voted against it in both parties collectively.

Obama continues to blame the current financial crisis on “deregulation”. Either Obama knows that claim to be false or he is ignorant of how this crisis evolved:

The path to our current cirisis started with these steps;

Step 1). Mortgage Underwriting standards were lowered - begining in the early 1990’s. http://www.foxnews.com/story/0,2933,424945,00.html

The Federal Reserve’s Board of Governor’s created a new set of standards to govern Mortgage Lending practices. http://www.foxnews.com/story/0,2933,424945,00.html

The Federal Reserve’s involvement in creating this problem gives one reason to question if the Public should trust the Federal Reserve to oversee the proposed bailout.

The lowered standards minimized the importance of a borrowers Credit History, Downpayment, Job History or Income. These “tried and true” criteria were called “outdated”. The Boston Federal Reserve created a Manual outling the ”new criteria” in 1992. http://www.foxnews.com/story/0,2933,424945,00.html

These rules were “pushed” by Fannie Mae to the extreme. Those who co-operated were rewarded.

One lender singled out by Fannie Mae for special praise for following these new criteria was Countrywide:

continues:

http://mcauleysworld.wordpress.com/2...olitical-spin/

[classicman]

Any particular politicians "in the pockets" of Countrywide.

[ZenGum]

We all know that 85% of problems are caused by - TOP - management, so this young lad knows just where to point.



And don't we all agree with him.

[classicman]

lol - seriously though - If the dems are gonna blame this on the reps and vice versa....lets track the money and see who got what and from whom. I know there was/is an adviser to McCain who was related to the Freddie Fannie deal. Now I hear rumors about Obama's people being connected to Countrywide.

[classicman]

Here is another one of "those emails"

Body count. In the last six months 292 killed (murdered) in Chicago, 221 killed in Iraq.

Sens. Barack Obama & Dick Durbin, Rep. Jesse Jackson Jr., Gov. Rod Blogojevich, House leader Mike Madigan, Atty. Gen. Lisa Madigan, Mayor Richard Daley...our leadership in Illinois...all Democrats. Thank you for the combat zone in Chicago. Of course they're all blaming each other. Can't blame Republicans, as there aren't any!

State pension fund $44 Billion in debt, worst in country. Cook County ( Chicago) sales tax 10.25% highest in country. (Look 'em up if you want). Chicago school system one of the worst in country. This is the political culture that Obama comes from in Illinois. He's gonna 'fix' Washington politics?

[Cicero]

Greed drives all these markets. Selling the American dream has always made a fast buck or two........Even to people that we have decided to boot out.

[classicman]

What about those we are about to elect in?

[TheMercenary]

Originally Posted by classicman

lol - seriously though - If the dems are gonna blame this on the reps and vice versa....lets track the money and see who got what and from whom. I know there was/is an adviser to McCain who was related to the Freddie Fannie deal. Now I hear rumors about Obama's people being connected to Countrywide.

Yea, actually I believe that Obama got more money from Fredd and Fanny than McCain did.

[TheMercenary]

Obama number 2 on the list.... McCain number 63 on the list

http://www.opensecrets.org/news/2008...d-freddie.html

[classicman]

Got this one emailed to me from a client

The Obama Ayers Relationship

In 1995, During Obama's First State Senate Campaign, William Ayers And Wife Bernadine Dohrn Hosted A Meeting Of Chicago Liberals At Their Home For Obama, Which One Attendee Said Was Aimed At "Launching Him." "In 1995, State Senator Alice Palmer introduced her chosen successor, Barack Obama, to a few of the district's influential liberals at the home of two well known figures on the local left: William Ayers and Bernardine Dohrn. While Ayers and Dohrn may be thought of in Hyde Park as local activists, they're better known nationally as two of the most notorious -- and unrepentant -- figures from the violent fringe of the 1960s anti-war movement. ... 'I can remember being one of a small group of people who came to Bill Ayers' house to learn that Alice Palmer was stepping down from the senate and running for Congress,' said Dr. Quentin Young, a prominent Chicago physician and advocate for single-payer health care, of the info rmal gathering at the home of Ayers and his wife, Dohrn. '[Palmer] identified [Obama] as her successor.' ... Dr. Young and another guest, Maria Warren, described it similarly: as an introduction to Hyde Park liberals of the handpicked successor to Palmer, a well-regarded figure on the left. 'When I first met Barack Obama, he was giving a standard, innocuous little talk in the living room of those two legends-in-their-own-minds, Bill Ayers and Bernardine Dohrn,' Warren wrote on her blog in 2005. 'They were launching him -- introducing him to the Hyde Park community as the best thing since sliced bread.'" (Ben Smith, "Obama Once Visited '60s Radicals," The Politico, 1/22/08)

From March Of 1995 Until September Of 1997, Obama And Ayers Attended At Least Seven Meetings Together Relating To The Chicago Annenberg Challenge. (Chicago Annenberg Challenge, Board Of Directors Meeting, Minutes Of The Board, 3/15/95, 3/31/95, 4/13/95, 6/5/95, 9/30/97; National Annenberg Challenge Evaluation Meeting, List Of Participants, 5/24/95; Chicago Annenberg Challenge, Chicago School Reform Collaborative Meeting, Minutes, 10/23/96)

* NOTE: Bill Ayers Was Asked To Help Obama Formulate The Chicago Annenberg Challenge By-Laws. (Chicago Annenberg Challenge Board Of Directors Minutes, 3/15/95)

In 1997, Obama Praised Ayers' Book On The Juvenile Justice System. "The two men were involved in efforts to reform the city's education system. They appeared together on academic panels, including one organized by Michelle Obama to discuss the juvenile justice system, an area of mutual concern. Mr. Ayers's book on the subject won a rave review in The Chicago Tribune by Mr. Obama, who called it 'a searing and timely account.'" (Jo Becker and Christopher Drew, "Pragmatic Politics, Forged On The South Side," The New York Times, 5/11/08)

* During The Time Obama And Ayers Served Together On The Woods Fund, Ayers Was Quoted Saying "I Don't Regret Setting Bombs ... I Feel We Didn't Do Enough." "'I don't regret setting bombs,' Bill Ayers said. 'I feel we didn't do enough.' Mr. Ayers, who spent the 1970's as a fugitive in the Weather Underground, was sitting in the kitchen of his big turn-of-the-19th-century stone house in the Hyde Park district of Chicago." (Dinitia Smith, "No Regrets For A Love Of Explosives," The New York Times, 9/11/01)

* NOTE: Obama, Born August 14th, 1961, Was 40 Years Old When Ayers Was Quoted. (Obama For America Website, www.barackobama.com, Accessed 10/6/08; Dinitia Smith, "No Regrets For A Love Of Explosives," The New York Times, 9/11/01)

Obama And Ayers Are Neighbors In Chicago's Hyde Park Neighborhood. "Twenty-six years later, at a lunchtime meeting about school reform in a Chicago skyscraper, Barack Obama met Mr. Ayers, by then an education professor. Their paths have crossed sporadically since then, at a coffee Mr. Ayers hosted for Mr. Obama's first run for office, on the schools project and a charitable board, and in casual encounters as Hyde Park neighbors." (Scott Shane, "Obama And '60s Bomber: A Look Into Crossed Paths," The New York Times, 10/4/08)

* Obama Spokesman Ben LaBolt Told The New York Times That Last Year Obama And Ayers "Bumped Into Each Other On The Street In Hyde Park." "[Obama spokesman Ben LaBolt] said they have not spoken by phone or exchanged e-mail messages since Mr. Obama began serving in the United States Senate in January 2005 and last met more than a year ago when they bumped into each other on the street in Hyde Park." (Scott Shane, "Obama And '60s Bomber: A Look Into Crossed Paths," The New York Times, 10/4/08)

* Neighbors Have Said "It's Only Natural" That Obama Would Know Ayers, Who Often Opens His Home For Gatherings, As Obama And His Wife "Are A Part Of Our Neighborhood And Part Of Our Social Circle." "Since coming out of hiding in 1980, the couple have raised three boys in Chicago and become part of the fabric of their liberal South Side neighborhood. Neighbors said it's only natural that Obama would know Ayers and Dohrn, who often open their homes for gatherings filled with lively discussions about politics, arts and social issues. Obama and his wife 'are part of our neighborhood and part of our social circle,' said Elizabeth Chandler, a neighbor of Ayers'." (Trevor Jensen, Robert Mitchum and Mary Owen, "Bill Ayers' Turbulent Past Contrasts With Quiet Academ ic Life," Chicago Tribune, 4/17/08)

Ayers' Organization, The Weather Underground, Was A "Violent Left-Wing Activist Group":

"William Ayers ... [Was] A Founding Member Of The Group That Bombed The U.S. Capitol And The Pentagon During The 1970s." (Russell Berman, "Obama's Ties To Left Come Under Scrutiny," The New York Sun, 2/19/08)

* Ayers' Group, The Weather Underground, Is A "Violent Left-Wing Activist Group." "Senator Obama's ties to a former leader of the violent left-wing activist group the Weather Underground are drawing new scrutiny as he battles Senator Clinton for the Democratic presidential nomination." (Russell Berman, "Obama's Ties To Left Come Under Scrutiny," The New York Sun, 2/19/08)

The Weather Underground Produced A Manual Which Begins, "We Are A Guerrilla Organization. We Are Communist Women And Men, Underground In The United States For More Than Four Years." "The coalition was said to be a violence-prone faction inspired by the Weather Underground's ''Prairie Fire,'' a guerrilla warfare manual published in 1974. The manual begins, 'We are a guerrilla organization. We are Communist women and men, underground in the United States for more than four years.'" (Paul L. Montgomery, "2 Women In Brink's Case Identified With Weathermen From Start In '69," The New York Times, 10/ 22/81)