Obama recession

[Jagger]

American public doesn't believe that it's an "Obama Recession"

http://mediamatters.org/items/200903310045?f=h_top

It looks like the Right Wing Propaganda Machine isn't working any more.

[stephanie]

I'll tell ya..I am the last person in favor of censoring anything..but if I owned a board, I think I would prevent anything from that lying, scumbag propaganda site for the Communist (Democrat) party website, media matters..and their paid trolls.:thumb:

[Kathianne]

Actually the reporting of responses has been interesting. See for yourself:

http://www.washingtonpost.com/wp-srv/politics/polls/postpoll_033109.html?hpid=topnews

Like nearly all polls since inauguration, look at the 'strongly...'

[Jagger]

that lying, scumbag propaganda site for the Communist (Democrat) party website, media matters..I challenge you, and anyone else, to point out where Media Matters ever lied about anything.

[stephanie]

I challenge you, and anyone else, to point out where Media Matters ever lied about anything.

everything they say..there I pointed it out to ya..

[Jagger]

everything they say..there I pointed it out to ya..

I challenge you, or any other Conservative/Socialist/Marxist/Communist/Republican/Christian, to point out a lie in the following statement made by Media Matters:


The suggestion that the financial crisis was caused by banks lending irresponsibly to comply with the CRA is widely discredited. According to housing experts, a large number of subprime loans were not made under the CRA, which applies only to depository institutions. A study released earlier this year by a law firm specializing in CRA compliance estimated that in the 15 most populous metropolitan areas, 84.3 percent of subprime loans in 2006 were made by financial institutions not governed by the CRA. Moreover, Janet Yellen, president and CEO of the Federal Reserve Bank of San Francisco, stated in a March 2008 speech that "studies have shown that the CRA has increased the volume of responsible lending to low- and moderate-income households."

http://mediamatters.org/items/200810100022

[Yurt]

I challenge you, or any other Conservative/Socialist/Marxist/Communist/Republican/Christian, to point out a lie in the following statement made by Media Matters:


The suggestion that the financial crisis was caused by banks lending irresponsibly to comply with the CRA is widely discredited. According to housing experts, a large number of subprime loans were not made under the CRA, which applies only to depository institutions. A study released earlier this year by a law firm specializing in CRA compliance estimated that in the 15 most populous metropolitan areas, 84.3 percent of subprime loans in 2006 were made by financial institutions not governed by the CRA. Moreover, Janet Yellen, president and CEO of the Federal Reserve Bank of San Francisco, stated in a March 2008 speech that "studies have shown that the CRA has increased the volume of responsible lending to low- and moderate-income households."

http://mediamatters.org/items/200810100022

are you claiming those are one and the same?

[PostmodernProphet]

I challenge you, or any other Conservative/Socialist/Marxist/Communist/Republican/Christian, to point out a lie in the following statement made by Media Matters:


The suggestion that the financial crisis was caused by banks lending irresponsibly to comply with the CRA is widely discredited. According to housing experts, a large number of subprime loans were not made under the CRA, which applies only to depository institutions. A study released earlier this year by a law firm specializing in CRA compliance estimated that in the 15 most populous metropolitan areas, 84.3 percent of subprime loans in 2006 were made by financial institutions not governed by the CRA. Moreover, Janet Yellen, president and CEO of the Federal Reserve Bank of San Francisco, stated in a March 2008 speech that "studies have shown that the CRA has increased the volume of responsible lending to low- and moderate-income households."

http://mediamatters.org/items/200810100022

here's some....
"The suggestion that the financial crisis was caused by banks lending irresponsibly to comply with the CRA is widely discredited."
"According to housing experts, a large number of subprime loans were not made under the CRA, which applies only to depository institutions."
"A study released earlier this year by a law firm specializing in CRA compliance estimated that in the 15 most populous metropolitan areas, 84.3 percent of subprime loans in 2006 were made by financial institutions not governed by the CRA."
"studies have shown that the CRA has increased the volume of responsible lending to low- and moderate-income households."

[Jagger]

here's some....
"The suggestion that the financial crisis was caused by banks lending irresponsibly to comply with the CRA is widely discredited."

Only 20 percent of subprime mortgages were issued by depository institutions under the CRA.

http://mediamatters.org/items/200809300012

[avatar4321]

I challenge you, and anyone else, to point out where Media Matters ever lied about anything.

Go to the website. Read a paragraph. 99% chance they are lying.

[PostmodernProphet]

Only 20 percent of subprime mortgages were issued by depository institutions under the CRA.

http://mediamatters.org/items/200809300012

you are confirming the credibility of mediamatters by quoting mediamatters?......

[Trigg]

Are we positive that Jagger isn't really truthmatters in disguise :tinfoil:

[Kathianne]

you are confirming the credibility of mediamatters by quoting mediamatters?......

Damn, coffee all over monitor!

[REDWHITEBLUE2]

Damn, coffee all over monitor! Don't you just hate it when someone posts the truth and it makes you LOL :cheers2:

[Kathianne]

Don't you just hate it when someone posts the truth and it makes you LOL :cheers2:

Well that is why I have my Clorox disinfecting wipes right close to me. :salute:

[Jagger]

Mortgage Data Refutes Charge that the CRA is at the Root of the Financial Crisis http://traigerlaw.com/publications/The_community_reinvestment_act_of_1977-not_guilty_1-26-09.pdf

[PostmodernProphet]

Mortgage Data Refutes Charge that the CRA is at the Root of the Financial Crisis http://traigerlaw.com/publications/The_community_reinvestment_act_of_1977-not_guilty_1-26-09.pdf

this report draws it's conclusions from the fact there was little change in the number of high risk loans from CRA banks between 2006 and 2007......it spends zero attention to CRA loans issued in the 90s.....the problem began to show it's head when the five year ARMs began coming due in 2001-2003 and interest rates jumped....high risk mortgagors were unable to refinance their mortgages in 2006 and 2007.....thus, it is no surprise that the regulated banks were not issuing high risk mortgages in those years......

[Trigg]

this report draws it's conclusions from the fact there was little change in the number of high risk loans from CRA banks between 2006 and 2007......it spends zero attention to CRA loans issued in the 90s.....the problem began to show it's head when the five year ARMs began coming due in 2001-2003 and interest rates jumped....high risk mortgagors were unable to refinance their mortgages in 2006 and 2007.....thus, it is no surprise that the regulated banks were not issuing high risk mortgages in those years......

You just had to start making sense didn't ya????????? :laugh2:

[emmett]

Mortgage Data Refutes Charge that the CRA is at the Root of the Financial Crisis http://traigerlaw.com/publications/The_community_reinvestment_act_of_1977-not_guilty_1-26-09.pdf



Yes but what is your opinion. No link. What do you think? You can think for yourself can't you? Your constant links to bius views don't mean shit Jaggie! At a debate you carry no information. Just your mind.


Here is a test for you!

Trace down all my posts and what will you never find? A link. That's right, I have never posted a single solitary link. I don't even know how. Has it stopped me from being slap in the middle of some of some of the most active, spirited debates on this board? NO! Why. Cause I can think for myself. I'm not in any way suggesting that people who link cannot however i am most certainly saying that it isn't a prerequsite for posting. Let's hear YOUR opinion in well articulated format. Make a point, convince us of one single point you make without a spamalink. I challenge you! I'm calling you out boy! Is the pressure too much for you!

[Jagger]

Americans not falling for media's misleading coverage of economy - http://www.youtube.com/watch?v=pY71TeYQ4s8

[emmett]

Americans not falling for media's misleading coverage of economy - http://www.youtube.com/watch?v=pY71TeYQ4s8


Still can't speak for yourself. What do you think? Give us some Jaggiejargin!

[Kathianne]

Americans not falling for media's misleading coverage of economy - http://www.youtube.com/watch?v=pY71TeYQ4s8

good link, though not really truthful, IMO. Why? Because the original polling was too soon, as I posted before.

Still one of your best posts, weak though it is. Emmett may be having an effect. Now you're a girl?

[5stringJeff]

Why would anyone think a recession that started in late 2007/early 2008 was "the Obama recession?"

And why would anyone think that you could spend and borrow your way out of recession?

[PostmodernProphet]

Americans not falling for media's misleading coverage of economy - http://www.youtube.com/watch?v=pY71TeYQ4s8

you can't blame banks and Bush for not providing solutions......it's Obama's problem to solve it, he promised to do it when he ran for president.......

[PostmodernProphet]

Emmett may be having an effect. Now you're a girl?

he just wanted an avatar with longer hair than Emmett's......

[actsnoblemartin]

you mean they get paid :coffee:


I'll tell ya..I am the last person in favor of censoring anything..but if I owned a board, I think I would prevent anything from that lying, scumbag propaganda site for the Communist (Democrat) party website, media matters..and their paid trolls.:thumb:

[avatar4321]

Why would anyone think a recession that started in late 2007/early 2008 was "the Obama recession?"

And why would anyone think that you could spend and borrow your way out of recession?

That's exactly what Ive been wondering. Who the hell cares whose recession it is? We are in a recession and we need to deal with it or its going to end up taking peoples lives.

[theHawk]

It looks like the Right Wing Propaganda Machine isn't working any more.

Since when do polls equate to something being true? Just because 60%, or even if 99% of people believe something, doesn't make it a fact. Does anyone really believe that most people off the streets really have any idea how the financial system even works, much less what caused the current status of it? Who the hell cares what the percentage is of a pool of people that are most likely ignorant of all the facts regarding the issue in question?

[bullypulpit]

I'll tell ya..I am the last person in favor of censoring anything..but if I owned a board, I think I would prevent anything from that lying, scumbag propaganda site for the Communist (Democrat) party website, media matters..and their paid trolls.:thumb:

Why? Because it provides, in their unexpurgated form, the pronouncements of the GOP, its apologists and slavish followers, thus revealing them for the liars they are?

It must really suck being a right wing-nut when reality has such a profound "librul" bias.

[bullypulpit]

everything they say..there I pointed it out to ya..

PROVE it dearie.

<center><img src=http://i.zdnet.com/blogs/nelson-muntz.gif></center>

[bullypulpit]

Go to the website. Read a paragraph. 99% chance they are lying.

<center><img src=http://i.zdnet.com/blogs/nelson-muntz.gif></center>

See post #30...

[PostmodernProphet]

It must really suck being a right wing-nut when reality has such a profound "librul" bias.

I'm curious.....I coined the word "librul" on a different board that was populated with Europeans that objected to being linked with American liberals....I've never seen it anywhere else, but I've seen you use it from time to time.....who were you on that board?.......

[Jagger]

here's some....
"The suggestion that the financial crisis was caused by banks lending irresponsibly to comply with the CRA is widely discredited."


We believe that the available evidence runs counter to the contention that the CRA contributed in any substantive way to the current mortgage crisis.

--Randall S. Kroszner

http://www.federalreserve.gov/newsevents/speech/kroszner20081203a.htm

[Kathianne]

We believe that the available evidence runs counter to the contention that the CRA contributed in any substantive way to the current mortgage crisis.

--Randall S. Kroszner

http://www.federalreserve.gov/newsevents/speech/kroszner20081203a.htm



Repetitive posting is considered spamming, stop now.

[Jagger]

Repetitive posting is considered spamming, stop now.
I've never posted that before.

[Kathianne]

I've never posted that before.

Restating the same thing as the post above yours with a different link IS the same thing.

PM if you want to argue, not doing that on the board.

[Jagger]

Who are the most disgusting right wing talk jocks? My vote goes to Michael Savage. Mark Levine is the second most disgusting. My favorite liberal talk jock is Thom Hartman.

[stephanie]

Who are the most disgusting right wing talk jocks? My vote goes to Michael Savage. Mark Levine is the second most disgusting. My favorite liberal talk jock is Thom Hartman.

and we should care??

[5stringJeff]

We believe that the available evidence runs counter to the contention that the CRA contributed in any substantive way to the current mortgage crisis.

--Randall S. Kroszner

http://www.federalreserve.gov/newsevents/speech/kroszner20081203a.htm



Of course the Fed isn't going to blame laws and regulations for the current crisis. The Fed's mandate is based in things like legal tender laws and special privileges that the Federal Reserve Bank has.