Lets face the awful truth, the democrats elected a traitor to the White House

[i'va biggen]

Originally Posted by JD Barleycorn

I'm waiting to hear a rebuttal....crickets.

Does the budget control act ring a bell?

[The_Waco_Kid]

did EVA say something? who cares. chimp

[JD Barleycorn]

Originally Posted by i'va biggen

Does the budget control act ring a bell?

Does the revelation that Obama was behind the budget control act ring a bell? Ask Bob Woodward. I also mentioned this already.

[i'va biggen]

Originally Posted by JD Barleycorn

Does the revelation that Obama was behind the budget control act ring a bell? Ask Bob Woodward. I also mentioned this already.

Dismiss the fact it went through congress, and the fucktards have done nothing to date to keep it from going into effect Oct this year.

[IIFFOFRDB]

Originally Posted by i'va biggen

Dismiss the fact it went through congress, and the fucktards have done nothing to date to keep it from going into effect Oct this year.

Yekim did you hear about the 0zombie Kings latest plot to bring down our country? Check it out... http://www.frontpagemag.com/fpm/2615...n-john-perazzo

OBAMANOMICS IN CATASTROPHIC ACTION

How Obama's new mortgage program is steering America toward another housing-market collapse.

January 22, 2016 John Perazzo


Remember a few years ago, when the American housing market collapsed as a direct result of government policies that—in the name of racial justice—pressured banks to approve mortgage loans for massive numbers of underqualified nonwhite applicants? Remember how that collapse set in motion the financial crisis that then-presidential candidate Barack Obama repeatedly called “the worst economy since the Great Depression”? And remember how Obama—who had long been a leading proponent of precisely the policies that had triggered the crisis—cast himself as the savior who was going to restore fiscal sanity and untangle the whole big mess?

Well, now Savior Obama and his White House are excitedly introducing Americans to their latest brainchild, the “HomeReady” mortgage program—offered through Fannie Mae and designed to help borrowers in “low-income” and “high-minority” census tracts. “For the first time,” boasts Fannie Mae, “income from a non-borrower household member [e.g., a roommate or family member] can be considered to determine an applicable debt-to-income ratio for the loan.” And if those combined incomes aren't enough to qualify an applicant for a mortgage loan, HomeReady comes with additional built-in “flexibilities” like “allowing income from non-occupant borrowers, such as parents.” In other words, just keep rounding up everyone you know, until you can scrape together a 3% down payment and show a combined income that's high enough to qualify for an individual loan. This makes the slipshod lending standards that caused the crisis of 2008 look exacting by comparison.

What about minority applicants with bad credit? No problem there, either! As Investor's Business Daily notes, “You can qualify with a FICO credit score as low as 620, which is subprime.” In fact, even the term “subprime loan”—meaning a loan that has a high interest rate and less favorable terms in order to compensate the lender for the high credit risk incurred—has received a thorough makeover from Obama & Company. From now on, such transactions are going to be called “alternative loans.” See? No more “subprime” crises—ever again! Ain't it grand?

The government policies that led to the housing market collapse of 2008 initially emerged in the mid-1970s, when Democrats in Congress began a campaign to help low-income minorities become homeowners. This led to the passage, in 1977, of the Community Reinvestment Act (CRA), a mandate for banks to make special efforts to seek out and lend to borrowers of meager means. Founded on the premise that government intervention is necessary to counteract the fundamentally racist and inequitable nature of American society and the free market, the CRA was eventually transformed from an outreach effort into a strict quota system by the Clinton administration. Under the new arrangement, if a bank failed to meet its quota for loans to low-income minorities, it ran the risk of getting a low CRA rating from the FDIC. This, in turn, could derail the bank's efforts to expand, relocate, merge, etc. From a practical standpoint, then, banks had no recourse but to drastically lower their standards on down-payments and underwriting, and to approve many loans even to borrowers with weak credit credentials. As Hoover Institution Fellow Thomas Sowell explains, this led to “skyrocketing rates of mortgage delinquencies and defaults,” and the rest is history.

The CRA was by no means the only mechanism designed by government to impose race-based lending quotas on financial institutions. For instance, the Department of Housing and Urban Development (HUD) instituted rules encouraging lenders to dramatically hike their loan-approval rates for minority applicants and began bringing legal actions against mortgage bankers who failed to do so, regardless of the reason. Moreover, HUD pressured Fannie Mae and Freddie Mac, the two largest sources of housing finance in the United States, to earmark a steeply rising number of their own loans for low-income borrowers. Many of these were subprime mortgages.

Additional pressure was applied by community organizations like ACORN, which routinely and frivolously accused banks of engaging in racially discriminatory lending practices that violated the mandates of the CRA. These groups often sued banks to prevent them from expanding or merging as they wished. Barack Obama, ACORN's committed ally, was strongly in favor of this practice. In a 1994 class-action lawsuit against Citibank, Obama represented ACORN in demanding more favorable terms for subprime homebuyer mortgages. After four years of being dragged through the mud, a beleaguered Citibank—anxious to put an end to the incessant smears (charging racism) that Obama and his fellow litigators were hurling in its direction (to say nothing of its mounting legal bills)—agreed to settle the case.

Forbes magazine puts it bluntly: “Obama has been a staunch supporter of the CRA throughout his public life.” In other words, he has long advocated the very policies that reduced the real-estate market to rubble. And now, because he is a socialist ideologue who reveres big-government interventionism and deplores the free market, he is actively pushing those very same practices again.

Obama claims, of course, to be motivated only by a desire to help downtrodden minorities get a fair shake. But in practice, his approach has served only to devastate those purported “beneficiaries.” For example, by 2009, as a result of the government policies that had brought about the housing crisis, the median net worth of black and Hispanic households nationwide had declined by 53% and 66%, respectively—whereas white net worth had fallen by a mere 16%. These disparities, explains the Federal Reserve, were largely due to the fact that African Americans and Hispanics—“because of their comparatively poor credit ratings”—were disproportionately represented among those who had fallen into the financial trap of the subprime mortgages encouraged by the CRA and similar government policies.

It's a story we've seen many times: Leftist masterminds come up with a scheme to bring “justice” to the downtrodden. But when the dust eventually settles, there is only misery all around.

[cptjohnstone]

Originally Posted by The_Waco_Kid

did EVA say something? who cares. chimp

Eva never "says" anything but he does babble alot

[i'va biggen]

Originally Posted by cptjohnstone

Eva never "says" anything but he does babble alot

Where is your token kid pic hillbilly? You are getting as bad as gay rey was stalking his woomby.

[CuteOldGuy]

Originally Posted by i'va biggen

Dismiss the fact it went through congress, and the fucktards have done nothing to date to keep it from going into effect Oct this year.

What about the other points? Why won't you answer my question? Which ones were caused by the sequester, and what are merits of the other points?


You brought it up. Answer, or just admit you're stupid and don't know what you're talking about.

[Yssup Rider]

Either ask him the right questions or admit you're stupid and just jerking off...

[CuteOldGuy]

Originally Posted by Yssup Rider

Either ask him the right questions or admit you're stupid and just jerking off...

Assup the WK. You know how stupid LittleEva is, since he's the only one on here who thinks you have a brain. So I have to ask him questions he can answer. Fine. I'll try to ask him a question simple enough for both of you to comprehend.


LittleEva, can you spell "cat"? If you can get that one right, then go back to my original question and answer that. If you can't spell "cat" then run to Assup, your WK, and he will give you the oral comfort you've come to expect from him.

[gary5912]

Originally Posted by i'va biggen

You are aware some of your points are bullshit, and some were caused by sequestration which the other side had a hand in. No I am nor WK for Obie, don't go there.

you bring it up, then tell people not to go there, you really are a dumb fuck, you and asswipe must be related

[lustylad]

Originally Posted by i'va biggen

You are getting as bad as gay rey was stalking his woomby.

Woomby? You mean Mr. 40 Posts a Day? The guy you claimed you always ignored and about whom you said you would leave eccie for a year if anyone proved you ever responded to him, only to WELSH on the bet after you incontrovertibly lost it, thereby showing everyone on this board WHAT A FUCKING LYING COWARDLY PUSSY YOU ARE???

THAT WOOMBY?

.

[i'va biggen]

Originally Posted by CuteOldGuy

What about the other points? Why won't you answer my question? Which ones were caused by the sequester, and what are merits of the other points?


You brought it up. Answer, or just admit you're stupid and don't know what you're talking about.

As smart as you claim to be (as you are always calling someone stupid) and you read judy's opinions did you think they were facts? Why didn't you ask him for links? Dull knife I am ashamed of you. Plus why because you are whining at me do you think I am obligated to follow your commands?

[i'va biggen]

Originally Posted by gary5912

you bring it up, then tell people not to go there, you really are a dumb fuck, you and asswipe must be related

You remind me of gay rey with that comment.

[i'va biggen]

Originally Posted by lustylad

Woomby? You mean Mr. 40 Posts a Day? The guy you claimed you always ignored and about whom you said you would leave eccie for a year if anyone proved you ever responded to him, only to WELSH on the bet after you incontrovertibly lost it, thereby showing everyone on this board WHAT A FUCKING LYING COWARDLY PUSSY YOU ARE???

THAT WOOMBY?

.

Did you ever count how many of his 40 a day you replied to? You are like a fucking parrot.