The MORTGAGE MESS (a 4 step fraud): Step 1. “Redlining” — Spawn GSEs (like Fannie), faking outrage over lenders NOT lending money to those who can’t repay. Step 2. “Community Reinvestment Act” — alter FEDERAL LAW so “community organizers” (like ACORN & Greenlining) dictate lending practices to lenders. Step 3. “Predatory Lending” — Fake outrage over lenders having lent money to those who can’t repay, as the toxic debt collapses. Step 4. Call it “deregulation”, and blame others. *** DEMOCRAT PARTY = FASCIST PARTY Democrat race hustlers and class warfare mongers bred this trillion-dollars nightmare with calls for “social justice”, and accusations of “redlining”. The Democrat fascists established federal laws like FFIEC CRA & granted “community organizers”, like ACORN & Greenlighting, authority to dictate race-based lending practices to lenders. In conjunction with their other Affirmative Racism laws, the Democrats thereby intimidated lenders into ABANDONING sound lending practices. This “Obamination” quickly spread to all sectors of borrowers, so that, eg, white Liberals tried to get rich off of it, too. Even today, Obama calls for “social justice” to expand such corrosive policies to other industries. Yet, Democrats are blaming those who warned against such fascism, while imbecilic Republicans keep trying to be polite and low key. *** LINKS: THE MELTDOWN’S ACORN www.nypost.com The Real Culprits In This Meltdown www.ibdeditorials.com Barney Frank’s Fannie and Freddie …
60 thoughts on “Coulter on Bailout Lies — “Social Justice” Obamination”
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Bush was a rookie compared to Obama’s spending. Other than bailout and amnesty, I generally like Bush. President Hussein is a nightmare waiting to fall asleep.
Other than the things he did right, you pretty much liked Bush, huh. lol
ImWilson1:
You have zero understanding
It wasn’t JUST “subprime loans” that caused this crisis
Many exotic loans were created (interest only ARMs offering lower start payments so one could qualify easier, ALT-A loans, & easier qualifying FHA loans w/no credit required) — This was the Democrats’ agenda — everyone is a homeowner & sing Kum-bahYah
Couple that w/the Dems ignoring Bush’s warnings & blocking Repub legislation to bring more oversight to Fannie/Freddie
So your saying that the deregulation of the banking mortgage industry had something to do with it. Lets see who was it that passed the deregulation? Oh yeah the Bush Administration.
You do understand when you give Wall Street a new toy they will see how much and how quickly they can produce a profit no matter the end result. With no regulation it creates a dog eat dog situation. Now when the CRA was passed in 96 did it also include deregulation? No that would have been stupid.
Have a nice day.
ImWilson:
LOL!! You are so brainwashed that it’s actually quite sad
The legislation to deregulate, Gramm-Leach-Bliley, was signed by CLINTON!
Bush signed ZERO legislation to regulate!
PURE & UTTER STUPIDITY
*Bush signed ZERO legislation to de-regulate
I like that LOL you use a bill that was written by Republicans attached to a budget bill that needed to be passed by the Clinton Administration. If he wasn’t held hostage over the budget it never would have been signed.
Now on to Bush. Now the bill you cited, did this mean that banks would no longer be regulated? No. Did this mean that bank regulators would go away? No. It simply meant that banks could enter brokerage, insurance, and other businesses to a modest degree, with restrictions.
Now whose Administration was responsible for the oversight? The Bush Administration, and they made sure that the government stayed out of business and avoided any regulation as long as they were making lots of money. As the market grew they allowed more phony financial instruments like derivatives and bundled sub-prime paper. Lets not forget the fourth State Of The Union address when Bush touted increased Home ownership as one of his accomplishments. And 2007 pushing for reform of FHA.
ImWilson1: LMAO!!
You really are ignorant. You actually think that mortgage backed securities were created by Bush? This has gone on for decades idiot!
Bill S190 was attached to NOTHING — it was in committee. Look it up & quit trying to make up lies
Republicans are/were for staying out of regulating who banks must lend to — they are/were for regulating Fan/Fred’s accounting. You see what mess it created, right?
You are obviously CLUELESS
Democrat regulaton was what caused the global crisis we see now. Barney Frank and Maxine Watters were caught red handed forcing banks to take bad loans.
Let’s give Obama his due, too.
The Chicago Sun-Times boasted in their Obama slobberfest, “Strong, silent type”, how Obama sued banks on behalf of ACORN for the “crime” of not lending to those who couldn’t repay, or what Democrat race-hustlers call “Red Lining”. Of course, now they blame the victim banks for doing what Democrats forced them to do, calling it “predatory lending”.
Democrats are one long running bad joke against humanity.
There is enough blame to go around. The Democrats started the ball rolling with their vote buying social engineering schemes. When the Republicans”FINALLY” attempted to address the problems, the Democrats threatened to call them Racists. At that point the Republicans folded like a cheep suit. It appears that as long as both parties are dysfunctional, the media get to set the agenda on how the country is run.
Everybody who could not afford the home they wanted to buy also. Not only were unqualified blacks latinos etc. allowed to take loans forced out of banks by a racist affirmitave action program known as the CRA, which first was a lawsuit enabling reg, then a fucking quota system. For instance if a “minority” wanted to own a home they could not afford although the 100,000 dollar house was in their range they could still bank rob a bank for the 500,000 loan/mortage erc. That and the white yuppies.
I’m a low income head of household and the low fisrt time buyers deal,got me into a house, we found an easy way to resell the property for one hundred thousands dollars over the original value and we made a profit of sixty thousand dollars, I end up buying a houses in Vegas for a real low price and my mortgage payment is less than seven hundred dollars per month Tax and inssurance included, it was a good year thank you. Democrats!!
Ann Coulter get laid!!
I know you and Barry like the bailouts. LOL
I hate this bitch but she is spot on sometimes.
I think it was Republicans that pushed home ownership and the follow on by Democrats was to force the system to offer it to the lower end over their voters in the name of anti-racism and equality.
Thats cause when they are qualified then they dont get any loans and the only time they are not qulified they get loans. This is the America we are living in. The poor are not to blame.
Coulter is great!
Liberalism is a mental disorder!
Deception certainly requires intelligence, but describing it by that admirable term alone is, itself, either more of it or pure ignorance.
Fannie Mae and the other GSEs at the fascist core of the mortgage meltdown are the spawn of Democrats.
From FDR to Clinton, they grew & protected GSEs their ever expanding federal mandates. ACORN and such BOASTED of forcing lenders to submit to suicidal lending practices. All while Democrats spewed derision at anyone who tried to warn against it.
How do you like sucking Barry’s asshole?
“…destroy the economy….” — how?
Fannie Mae — FDR
Community Reinvestment Act (CRA) — Carter, Clinton.
Forcing banks to lower their lending standards — Democrat party platform; Barney Frank & Chris Dodd, and ACORN backed by the Clinton-modified CRA.
Democrats ferociously defended their federal mandates that forced banks into suicidal lending practices, and attacked anyone who dared to notice, such as President Bush’s economic adviser, N. Gregory Mankiw. And that was Bush’s FIRST year.
Thats because the last two years of Bush’s administration he became a democrat. He, Pelosi, Obama and Reid decieded to spend, spend spend. All spending orignates in the house–I doubt you know that. The irony is that the democrats blame him for signing what they drew up, approved of, and submited to him.
ACORN and affirmative action loans is another story.
Fannie and freddie did not cause the subprime mess. the word subprime denoted a loan that was below the standards of the GSEs and the majority were issued before the GSEs got invovled in the subprime markets.
CRA had an effect, but contraty to what you claim, it alleviated the problem..
etc. The republicans are and have always been the true fascist party.
Even if your claims held merit, which they don’t, your logic is that a single bullet can’t kill you because the other 99% of you will be bullet-free.
Also, from FDR’s fascist programs, onward, the government nationalized the home mortgage market. Democrats, from Carter to Clinton, aggressively increased the scope, authority and enforcement of their ever expanding mandates. ACORN types BOASTED on their web pages of the banks they forced to submit to their suicidal lending practices.
None of your claims have any merit. First of all, it is unlikely that CRA and the GSEs started the subprime mess, because it doesn’t fit the known facts. And, you don’t need the GSEs or CRA to explain why the subprime bubbles were formed. Securitization, unaccountable middle men (brokers), and bad lending standards can explain the subprime frenzy as everyone believed they could pass the hidden losses to someone else and keep the profits. CRA regulation reduced predatory lending and subprime.
No. The political division between the Bush admin and democrats remained (remember insuring children? Bush vetoed thats quite a sacrifice to save moneys). The fact of the matter is that spending like a masturbating, slobbering brazen drunkard sailor has been the Republican policy for the last 25+ years. The crucial difference is that the Reps want to spend on various corporate welfare and warfare, at the cost of the majority, while usually under the democrats, incomes of the majority grow.
The “known facts” are the federal gov’t began nationalizing the home mortgage industry with FDR; that their ever expanding mandates forced lenders to abandon sound lending practices; that race hustlers led the charge; that under the happy-sounding slogan of Affordable Housing, such fascism turned a $150,000 house into a $500,000 house; that implicit gov’t guarantees allowed levels of leverage otherwise unobtainable.
Oh, and you misused “Predatory Lending”. You meant “Red Lining”.
Van Jomes for President-Demcorat Party 2012.
OK Rumpelstiltskin. Go back to sleep for another 30 Years. While the Democrats run the Country more into the ground than they already have then wake up and Blame the Republicans Again
ann coulter rules. stop being afraid of the truth!
you clearly have no idea whats going on in the world. obama is spending far more money than bush already
Time to unwind this mess. I do not know if the USA can realistically escape the “socialist” title anymore. Let see, we prop up Amtrak, USPS, Many Airlines, Fan- Fred to name a few. Then we have a ponzi scheme name Social Security. Medicare and Medicaid are two programs that have huge future obligations they cannot meet, oh I guess they can by printing more debt. Am I supposed to consider this a serious country? Oh, let’s not forget the constant globetrotting missions the military is always on.
Bushe’s budget was $800 bilion, obummer doubled that in 2009 and will double it again in 2010 and 2011 not counting health care. Libturds don’t like facts and truth it interferes with their ideology which trumps both.
Bailouts are a bad idea.
Ameritards cannot even take responsibility for their own financial mistakes, Big Brother will come in and save them. You buy a house that puts a big strain on your monthly budget, then, you go out and buy a bunch of junk with a credit card, then, you get a heloc so you can go out and buy more junk. Why has this society lost all discipline, because they can rely on Big Brother to bail them out.
Anyone who knows anything about what caused the housing crisis is AWARE that it all goes back to political correctness. They had to lower the standards to create more “diversity” (defined by skin color and people who aren’t “white”) in home-ownership.
You’re just an Obama drone repeating media talking points, with no critical thought whatsoever.
Great vid
The government explains away the subprime mess by blaming the lenders, but the lenders wouldn’t have created the loan products if they couldn’t offload them to someone else. The GSE’s backed these products. That’s a fact.
@Bacchant33rd You seem to think that a “corporation” is so completely incompatible with a leftist government that the former would never advocate for the latter. This simply isn’t true. Socialism is for everyone but the men at the top, and, like the top people in government, the big time executives at these corporations would not see their lifestyles change much under socialism. You seem to think that GE and the government aren’t the same thing. Wake up.
Right but you forget that F&F bought trillions in these bundles to meet their own low income lending requirements. Trillions in liquidity that the market would never have provided.
I suppose the trillions of money from federal reserve via fannie and freddie didn’t encourage securitization at all.
Everyone should learn about United Nations Agenda 21. “Social Justice” and redistribution of wealth sounds cool to American liberals. Wait until they find that their money is not being redistributed in America, but to other countries. Is that really what they want? I don’t think so. Remember the blacks waiting in line for their “Obama money?” They really thought redistribution of wealth was coming to them. People on welfare in America are richer than many people in 3rd world countries.
Minority home loans to minorites who had no assets, no education, no previous equity in anything, no job, no source of income to speak of, no hope in 100 lifetime’s of paying even so much as a dime of any of it back and who wouldn’t qualify for even the smallest of loans on their very best days…but it was “racist” not to give them the money. So they bought the homes that they couldn’t afford with money that they didn’t qualify for with no money down and they lost them just as fast.Surprising.
It’s ironic (or perhaps hypocritical is a better term) that when Rush, Hannity & Ann complain about the way “liberals” talk about the wealthy not being taxed proportionately or having too many tax breaks, it’s “class warfare”. However, when they criticize unions, which are typically middle class, civil servants & blue collar workers (ie, factory workers, nurses, tradespeople, etc,), somehow that’s not the same thing. Not only is it class warfare by definition, it’s also to divide & conquer us!
To borrow from the latest Leftist rhetoric, Labor unions –price fixing cartels –benefit the “1%” (labor bosses & the governing class), to the detriment of the “99%”.
Compare the hell-hole of Detroit (GM/AFL-CIO) to the thriving communities of San Antonio, TX (Toyota) or Smyrna, TN (Nissan), and then tell me who’s been waging jihad against the “middle class”.
Your implication alone, that political hustlers can win elections by siding AGAINST the “99%”, is clearly divorced from reality.
I want to say “how’s the kool aid taste” but you’d probably say the exact same thing to me. There’s no sense trying to express why I believe the way I do, there’s not enough space & really would it do any good? The only solace I can take away is at least the two of us are trying to engage others into thought & hopefully action. My guess is a few (or more) beers into a discussion & we’d probably realize we basically want the same thing. We just have very different views on how achieve it. Peace!
Wanting something and achieving it are two different things. The toxic effect of labor unions on society, e.g., Detroit, is an objective reality, not a “view”.
By the way, your Kool Aid reference is from an infamous Leftist, Jim Jones, who also claimed to want lots of happy things for others.
What does it say of those who claim to want something, but bitterly cling to politics that cause the exact opposite effect, even after presented with evidence of the damage their politics have inflicted?
I just dont know WHY the republicans went along with this Democratic progressive ideology that EVERYONE deserves a new home!!
maybe those involved became like everyone else..greedy like the speculators buying these homes and flipping them..till the bubble burst.