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<blockquote data-quote="The Other Side" data-source="post: 1030199" data-attributes="member: 17969"><p>You know, we covered all the subjects you are speaking of in other posts, and yet, you have come here to repeat the false claims of the FOX TALKING heads once again. Its amazing to me how many people simply watch a cable news channel, and then believe they are informed, when in reality, they are merely confused by rhetoric and falsehood.</p><p></p><p>If things in this country are WORSE off than they were in 2008, then OBAMA would be losing more than 750 thousand jobs a month, and that aint happening, second, the stock market that was at 14000 under BUSH before he crashed it dropped to 6600, and it would have to be lower than that to be WORSE, and that aint happening as the market is shooting for 14000 once again. The banking industry that technically crashed in 2007 only to be kicked down the road to 2008 with bailouts from BUSH, were saved by a bigger bailout from OBAMA and today our banking industry is solvent and paying back the loans they received. If it was worse, there would be less banks today than in 2008.</p><p></p><p>As for your housing claim, this is where we have to repeat ourselfs. Bill Clinton did not cause the housing crisis. Barney Frank did not create the housing crisis, Nancy Pelosi did not cause the housing crisis and Obama did not cause the housing crisis.</p><p></p><p>Clinton did not order or mandate the interest only loans programs, Clinton did not order the zero downpayment programs, Clinton did not order the building and selling of 6.5 million homes in 10 years and Clinton did not mandate the selling of millions of homes to unqualified buyers. Barney Frank did not mandate the interest only loans, Barney Frank did not mandate the zero downpayment loans, Barney Frank did not mandate the selling of millons of homes to unqualified buyers. </p><p></p><p>Your hero GEORGE W BUSH DID. A housing bubble had to be created, in 2002 GW BUSH mandated just that with a program he called "THE HOME OWNERSHP SOCIETY". I realize you dont have the first clue what that means because you watch FOX NEWS and most likely listen to right wing radio and THEY would be the LAST to tell you of such things.</p><p></p><p>He started by calling for the building of 6.5 million homes in 10 years, he called for the selling of 1.5 million to low income black buyers, he called for 1.5 million to low income hispanics or "recently arrived immigrants" (in his own words), he called on the mortgage companies to create "NEW LOAN INSTRUMENTS" to assist in helping to sell these homes to low income or buyers with bad credit. ( in his own words), these "NEW INSTRUMENTS" were the interest only short term loans that have been blowing up in the countrys faces begining in 2007. 3 year, 5 yr, 7 yr,10yr,,12yr and 15yr interest only loans are all coming due, and as each year passes, the next set of time bombs blows up on our economy.</p><p></p><p>BUSH created the ZERO DOWNPAYMENT ASSISTANCE ACT... meaning that homebuyers did not have to put the normal 20% down that is required to buy a home, and the reason?? He said because the downpayment was a "BARRIER" to home ownership. This meant that all those people who went in with 0 down were behind the 8ball before they ever made the first payment.</p><p></p><p>BUSH also created the DOWNPAYMENT ASSISTANCE ACT where the goverment would give 40 thousand dollars to low income first time home buyers so they could buy a home and in addition, if they were section 8 previously, that same section 8 that would have paid rents, would then go to paying the mortgage. ( now whos the socialist?)</p><p></p><p>BUSH aggressively tried to stimulate the marketplace with fast sales and for a short period, it worked, until it all came crashing down with 5 dollar a gallon gasoline and two wars.</p><p></p><p>As the country dragged down with sky high oil prices, the marketplace staggered and eventually crashed.</p><p></p><p>THIS HAD NOTHING TO DO WITH CLINTON OR FRANK, but FOX SPEWS and the talking heads try to distract you with tales of such. ITs easier to convince you of that than to provide you with facts.</p><p></p><p>How about you listen to BUSH himself explain the same thing I just explained to you? Take the time to watch each video and read what I supplied you. Then ask yourself, why doesnt FOX SPEWS or Limbaugh tell you such things?</p><p><a href="http://www.youtube.com/watch?v=vLUbb2DUYGk&feature=related" target="_blank">Burning Down The House: (Karl Rove - Bush Version) - YouTube</a></p><p></p><p><a href="http://www.youtube.com/watch?v=kNqQx7sjoS8&feature=related" target="_blank">Home Ownership and President Bush - YouTube</a></p><p></p><p><a href="http://www.youtube.com/watch?v=MqR15H0gNBU&feature=related" target="_blank">October 2002 speech by president Bush - YouTube</a></p><p></p><p><a href="http://www.youtube.com/watch?v=CwPG-7FTkyM&feature=related" target="_blank">Bush On Low Income Loans To Encourage Buying Homes - YouTube</a></p><p></p><p><a href="http://georgewbush-whitehouse.archives.gov/news/releases/2002/06/20020617-2.html" target="_blank">President Calls for Expanding Opportunities to Home Ownership</a></p><p></p><p>BUSH CHALLENGE</p><p><strong>Challenging the Private Sector.</strong> The President is calling upon the housing industry, including the, Federal Home Loan Banks, the homebuilders, and the mortgage and finance industry to join with Federal, State, and local governments to help America meet the goal of increasing the supply of affordable housing.</p><p></p><p><a href="http://georgewbush-whitehouse.archives.gov/news/releases/2004/09/20040902-5.html" target="_blank">Increasing Affordable Housing and Expanding Homeownership</a></p><p></p><p>Peace</p><p></p><p>TOS</p></blockquote><p></p>
[QUOTE="The Other Side, post: 1030199, member: 17969"] You know, we covered all the subjects you are speaking of in other posts, and yet, you have come here to repeat the false claims of the FOX TALKING heads once again. Its amazing to me how many people simply watch a cable news channel, and then believe they are informed, when in reality, they are merely confused by rhetoric and falsehood. If things in this country are WORSE off than they were in 2008, then OBAMA would be losing more than 750 thousand jobs a month, and that aint happening, second, the stock market that was at 14000 under BUSH before he crashed it dropped to 6600, and it would have to be lower than that to be WORSE, and that aint happening as the market is shooting for 14000 once again. The banking industry that technically crashed in 2007 only to be kicked down the road to 2008 with bailouts from BUSH, were saved by a bigger bailout from OBAMA and today our banking industry is solvent and paying back the loans they received. If it was worse, there would be less banks today than in 2008. As for your housing claim, this is where we have to repeat ourselfs. Bill Clinton did not cause the housing crisis. Barney Frank did not create the housing crisis, Nancy Pelosi did not cause the housing crisis and Obama did not cause the housing crisis. Clinton did not order or mandate the interest only loans programs, Clinton did not order the zero downpayment programs, Clinton did not order the building and selling of 6.5 million homes in 10 years and Clinton did not mandate the selling of millions of homes to unqualified buyers. Barney Frank did not mandate the interest only loans, Barney Frank did not mandate the zero downpayment loans, Barney Frank did not mandate the selling of millons of homes to unqualified buyers. Your hero GEORGE W BUSH DID. A housing bubble had to be created, in 2002 GW BUSH mandated just that with a program he called "THE HOME OWNERSHP SOCIETY". I realize you dont have the first clue what that means because you watch FOX NEWS and most likely listen to right wing radio and THEY would be the LAST to tell you of such things. He started by calling for the building of 6.5 million homes in 10 years, he called for the selling of 1.5 million to low income black buyers, he called for 1.5 million to low income hispanics or "recently arrived immigrants" (in his own words), he called on the mortgage companies to create "NEW LOAN INSTRUMENTS" to assist in helping to sell these homes to low income or buyers with bad credit. ( in his own words), these "NEW INSTRUMENTS" were the interest only short term loans that have been blowing up in the countrys faces begining in 2007. 3 year, 5 yr, 7 yr,10yr,,12yr and 15yr interest only loans are all coming due, and as each year passes, the next set of time bombs blows up on our economy. BUSH created the ZERO DOWNPAYMENT ASSISTANCE ACT... meaning that homebuyers did not have to put the normal 20% down that is required to buy a home, and the reason?? He said because the downpayment was a "BARRIER" to home ownership. This meant that all those people who went in with 0 down were behind the 8ball before they ever made the first payment. BUSH also created the DOWNPAYMENT ASSISTANCE ACT where the goverment would give 40 thousand dollars to low income first time home buyers so they could buy a home and in addition, if they were section 8 previously, that same section 8 that would have paid rents, would then go to paying the mortgage. ( now whos the socialist?) BUSH aggressively tried to stimulate the marketplace with fast sales and for a short period, it worked, until it all came crashing down with 5 dollar a gallon gasoline and two wars. As the country dragged down with sky high oil prices, the marketplace staggered and eventually crashed. THIS HAD NOTHING TO DO WITH CLINTON OR FRANK, but FOX SPEWS and the talking heads try to distract you with tales of such. ITs easier to convince you of that than to provide you with facts. How about you listen to BUSH himself explain the same thing I just explained to you? Take the time to watch each video and read what I supplied you. Then ask yourself, why doesnt FOX SPEWS or Limbaugh tell you such things? [url=http://www.youtube.com/watch?v=vLUbb2DUYGk&feature=related]Burning Down The House: (Karl Rove - Bush Version) - YouTube[/url] [url=http://www.youtube.com/watch?v=kNqQx7sjoS8&feature=related]Home Ownership and President Bush - YouTube[/url] [url=http://www.youtube.com/watch?v=MqR15H0gNBU&feature=related]October 2002 speech by president Bush - YouTube[/url] [url=http://www.youtube.com/watch?v=CwPG-7FTkyM&feature=related]Bush On Low Income Loans To Encourage Buying Homes - YouTube[/url] [url=http://georgewbush-whitehouse.archives.gov/news/releases/2002/06/20020617-2.html]President Calls for Expanding Opportunities to Home Ownership[/url] BUSH CHALLENGE [B]Challenging the Private Sector.[/B] The President is calling upon the housing industry, including the, Federal Home Loan Banks, the homebuilders, and the mortgage and finance industry to join with Federal, State, and local governments to help America meet the goal of increasing the supply of affordable housing. [url=http://georgewbush-whitehouse.archives.gov/news/releases/2004/09/20040902-5.html]Increasing Affordable Housing and Expanding Homeownership[/url] Peace TOS [/QUOTE]
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